Continuation Pay Sample Clauses

The Continuation Pay clause establishes the conditions under which an employee or service member receives additional compensation for agreeing to extend their service or employment beyond an initial commitment period. Typically, this clause outlines eligibility requirements, the amount and timing of the payment, and any obligations the recipient must fulfill to receive or retain the pay, such as a minimum additional service period. Its core practical function is to incentivize retention by providing a financial reward for continued service, thereby helping organizations maintain experienced personnel and reduce turnover.
Continuation Pay. The driver shall be compensated continuation pay if the time between routes is less than twenty-five (25) minutes.
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Continuation Pay. City shall pay City Attorney continuation pay of $5,000 each year, payable in equal monthly installments. City will make normal withholdings from that payment as required by law.
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Continuation Pay. Buyer agrees to provide 13 weeks of continuation pay to Patricia Freeman if her employment with the Company is terminated for ▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇ompany or Patricia Freeman.
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Continuation Pay. Beginning with the 2022-2023 Contract Year and ending no later than the 2024-2025 Contract Year, additional, annual compensation (basic salary) of Twenty Thousand Dollars ($20,000.00) per Contract Year shall be paid to Superintendent, less applicable withholdings, for his services performed for the School Corporation during the completed Contract Year (“Continuation Pay”). Subsequent to the termination of the Comprehensive Contract and/or Superintendent’s employment with the Corporation, Superintendent shall only be entitled to receive annual Continuation Pay for the Contract Year ending before such termination.
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Continuation Pay. Upon satisfaction of the Separation Conditions, Company will provide continuation pay to the Executive in the amount equal to twelve (12) months the (“Continuation Pay Period”) of Executive’s current annual base salary equal to three hundred fifty thousand eight hundred ninety-two dollars and sixty-eight cents ($350,892.68). Continuation Pay shall be made in bi-weekly payments in accordance with the Company’s usual and customary salary payment schedule.
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Continuation Pay. The Company agrees to pay severance in the form of (i) an amount equal to 50% of Employee’s base salary, at Employee’s regular monthly rate of compensation as of the Separation Date, 70% of such amount shall be payable in a lump sum on January 15, 2021 and 30% of such amount shall be paid in equal installments from the Separation Date through June 30, 2021 in accordance with the Company’s payroll practices, in each case, less all applicable deductions and withholdings required by law or authorized by Employee; and (ii) reimbursement to Employee for the cost of the Company’s portion of any continuation coverage for health insurance premiums under the Company’s group health plans elected by Employee pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) (i.e., the Company’s reimbursement will be at the same rate of the Company’s cost sharing as in effect from time to time for active employees of the Company), from the Separation Date through June 30, 2021.
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Continuation Pay. Subject to the limitations of, and in ---------------- consideration of this agreement, you will receive payments of $10,576.92 bi-weekly through January 14, 2001. All future payments in consideration of this agreement will cease immediately upon your accepting employment of any kind with any company considered to be a competitor of CompuCom and will also cease if you become an owner or shareholder (more than 5%), director, lender or consultant to any entity considered to be a competitor of CompuCom. It is your responsibility to notify CompuCom when you obtain a new position. You further agree not to disparage or otherwise criticize CompuCom, its officers, directors, employees, shareholders, affiliates, agents or representatives.
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Related to Continuation Pay

  • Continuation Coverage If Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, then the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (A) a period of six (6) months from the date of termination or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. The reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy. Notwithstanding the first sentence of this Section 3(a)(iii), if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable monthly payment, payable on the last day of a given month, in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s group health coverage in effect on the termination of employment date (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage and will commence on the month following Executive’s termination of employment and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the Company has paid an amount equal to six (6) payments. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax withholdings.

  • Benefit Continuation (a) For leaves taken pursuant to Clause 21.1, 21.2 and 21.3 the Employer shall maintain coverage for medical, extended health, dental, group life and long-term disability, and shall pay the Employer’s share of these premiums. (b) Notwithstanding Clause 21.4(a) above, should an employee be deemed to have resigned in accordance with Clause 21.5 the Employer will recover monies paid pursuant to this clause.

  • Salary Continuation An employee who suffers a compensable workers’ compensation injury, including being assaulted by a student, and who is temporarily and totally disabled as a result of the injury may be eligible to receive compensation from the Bureau of Workers’ Compensation (BWC). This section does not affect or replace the employees’ need to file claims with the BWC for medical treatment.

  • Benefits Continuation In addition, Executive shall be entitled to health and dental insurance benefits for a period of eighteen (18) months following the termination of this Agreement. These benefits will be provided at Employer’s expense, but such period shall count towards the Employer’s continuation of coverage obligation under Section 4980B of the Internal Revenue Code (commonly referred to as “COBRA”).

  • Termination Pay Effective upon the termination of this Agreement, the Employer will be obligated to pay the Executive (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.5, and in lieu of all other amounts and in settlement and complete release of all claims the Executive may have against the Employer. For purposes of this Section 6.5, the Executive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Executive may designate by notice to the Employer from time to time or, if the Executive fails to give notice to the Employer of such a beneficiary, the Executive's estate. Notwithstanding the preceding sentence, the Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the Executive, to determine whether any beneficiary designated by the Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any person or entity purporting to act as the Executive's personal representative (or the trustee of a trust established by the Executive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.