Continued Compensation Sample Clauses

Continued Compensation. Should Executive’s employment by Company be terminated without Cause, Executive shall receive as a lump sum within three (3) business days (or sooner if required by law) following such termination the total amount of Executive’s base salary for the remainder of the Initial Term or current Renewal Term. Executive shall have no duty to mitigate damages in order to receive the compensation described by this Subsection, and the compensation shall not be reduced or offset by other income, payments or profits received by Executive from any source.

Continued Compensation. If Executive's employment terminates before a Control Change Date or after the Employment Period because of an event described in Section 6(b) or 6(c), subject to the conditions of Section 7(c), Continued Compensation equal to Executive's Base Period Income (calculated in accordance with Section 6(e)) shall be paid in twelve equal monthly installments. If Executive's employment terminates during the Employment Period because of an event described in Section 6(b) or 6(c), subject to the conditions of Section 7(c), Continued Compensation equal to Executive's Base Period Income shall be paid in twelve equal monthly installments. Continued Compensation payments to Executive shall commence on the first day of the month following Executive's termination of employment with the Company because of an event described in Section 6(b) or 6(c) and shall continue on the first day of each month thereafter until paid in full, subject to receipt by the Company of notification from the Accounting Firm (defined below) of its determination regarding the reduction, if any, of Continued Compensation according to Section 6(g).

Continued Compensation. If a Change In Control occurs and the Corporation or its successor does not desire that Employee remain in his employment with the Corporation or its successor, the Corporation or its successor agrees to pay Employee his salary in effect at the termination date for a term of one (1) year from the termination date or until Employee obtains new employment, whichever is earlier, subject to withholding, deductions and taxation in accordance with applicable law.

Continued Compensation. During the period beginning on the Retirement Date and continuing until the Termination Date (the "Severance Period"), ▇▇▇▇▇ will continue as a non-executive, non-officer, non-policymaking employee of the Company, at an annual salary of $60,000. In addition, ▇▇▇▇▇ shall receive payments in an annual amount of $220,000 as consideration for his obligations under Paragraph 5, and $220,000 for his obligation under Paragraphs 6, 7, and 8. All of the payments under this Paragraph 4.a shall be made in accordance with the Company's normal payroll practices and subject to applicable payroll tax deductions. ▇▇▇▇▇ acknowledges and agrees that he shall not receive any additional compensation beyond that provided in this Paragraph 4 for his services to the Company, including without limitation, his service as Chairman.

Continued Compensation. Continued Compensation equal to three ---------------------- times Executive's Base Period Income shall be paid in 36 equal monthly installments. Continued Compensation payments to Executive shall commence on the first day of the month following Executive's termination of employment with the Company because of an event described in subsection 4(b) or 4(c)(i) and shall -------------------------- continue on the first day of each of the next thirty-five months, subject to receipt by the Company of notification from the Accounting Firm (defined below) of its determination regarding the reduction, if any, of Continued Compensation according to subsection 4(g). ---------------

Continued Compensation. Executive shall be paid severance in an amount equal to one (1) year of his base salary at the time of termination, less applicable withholdings, payable in a lump sum.

Continued Compensation. You shall continue to receive your base salary at the rate in effect pursuant to Section 2(a) above at the time of your termination of employment, in periodic installments, consistent with the Company’s payroll procedures then in effect, for a period of two (2) years following your termination date; provided, however, that (i) in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), payments made under this Section 8(a) shall commence no earlier than the date that is six (6) months after your termination date, and (ii) the first payment that is made under this Section 8(a) shall include any amounts that are required to be delayed pursuant to the foregoing clause (i). provided however that: (i) If your employment with the Company or its successor is terminated other than for Cause or by you for Good Reason within one (1) month prior to or twenty-four (24) months following a Change in Control, the total amount of payments made under this Section 8(a) shall be paid in a lump sum within thirty (30) days of the first date possible in accordance with Section 409A of the Code and not in periodic installments over a two-year period; (ii) in accordance with Section 409A of the Code, payments made under this Section 8(a)(i) shall commence no earlier than the date that is six (6) months after your termination date.

Continued Compensation. Continued Compensation means an amount equal ---------------------- to the Executive's annual base salary that would have been payable during the remainder of the Employment Period following Executive's termination (i) absent Executive's termination of employment and (ii) disregarding any reductions in such annual base salary during the Employment Period. Continued Compensation shall be paid in equal monthly installments during the remainder of the Employment Period following Executive's termination. Continued Compensation payments to Executive shall commence on the later of the fifteenth business day after Executive's employment termination or the first day of the month following his employment termination. At the Company's sole discretion, however, Continued Compensation payments may be commenced on an earlier date or paid in accordance with the Company's normal payroll practice relating to executives. The Company may also elect to make a lump sum payment to Executive equal to the present value of all monthly installments of Continued Compensation due to Executive, on the later of the fifteenth business day after Executive's employment termination or the first day of the month following his employment termination (or such later time as mutually agreed upon by the Company and Executive). For purposes of the preceding sentence, a discount rate equal to 120 percent of the applicable Federal rate (determined under Section 1274(d) of the Internal Revenue Code of 1986, as amended) (the "Code") compounded semiannually shall be used to calculate present value.

Continued Compensation. You shall continue to receive your base salary at the rate in effect pursuant to Section 2(a) above at the time of your termination of employment, for a period of two (2) years following your termination date. You may elect at any time following termination to require that the Company prepay the unpaid balance of this amount, discounted to present value at 7% without thereby relieving you of your obligations under Section 1(d) above.