CONTINUED PAYMENT OF BASE SALARY Clause Samples

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CONTINUED PAYMENT OF BASE SALARY. The Employee shall continue to be paid the Base Salary that would have been payable to the Employee pursuant to this Agreement had the Employee continued to be employed for the Term of this Agreement on the Termination Date (such Base Salary for such period being equal to the Employee's Base Salary in effect as of the Termination Date); and (ii) an amount equal to the greater of (A) the total of any performance bonus or bonuses paid to the Employee pursuant to Section 3(b) in the fiscal year of the Company ended immediately prior to the fiscal year in which the Termination Date occurs, and (B) the average of the annual performance bonuses (excluding the signing bonus and any special bonus not based on performance) paid to him by the Company with respect to the two (or, if less, the number of years the Employee has been employed with the Company) fiscal years ended immediately prior to the fiscal year in which the Termination Date occurs.
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CONTINUED PAYMENT OF BASE SALARY. For the eighteen (18) month period subsequent to the Termination Date, the Company shall pay to the Employee, on a bimonthly basis an amount equal to all Base Salary that would have been payable to the Employee pursuant to this Agreement had the Employee continued to be employed for the eighteen (18) months immediately following the Termination Date (such Base Salary for such period being equal to the Employee’s Base Salary in effect as of the Termination Date).
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CONTINUED PAYMENT OF BASE SALARY. The Employee shall continue to be paid the Base Salary that would have been payable to the Employee pursuant to this Agreement had the Employee continued to be employed for the eighteen months (18) months immediately following the Termination Date (such Base Salary for such period being equal to the Employee's Base Salary in effect as of the Termination Date); and (ii) an amount equal to the bonus payments that would have been payable to the Employee pursuant to this Agreement had his annual bonus for each year, or portion thereof, of the eighteen (18) months immediately following the Termination Date been equal to the greater of (A) the total of any performance bonus or bonuses paid to the Employee pursuant to Section 3(b) in the fiscal year of the Company ended immediately prior to the fiscal year in which the Termination Date occurs, and (B) the average of the annual performance bonuses (excluding the signing bonus and any special bonus not based on performance) paid to him by the Company with respect to the three (or, if less, the number of years the Employee has been employed with the Company) fiscal years ended immediately prior to the fiscal year in which the Termination Date occurs.
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CONTINUED PAYMENT OF BASE SALARY. The Company shall pay to the Executive his current base salary of $300,000 through June 30, 2004. Such payments shall be made in accordance with the Company’s regular payroll practices. For clarity, the parties acknowledge that the purpose of this Section 3(a), in combination with Section 2(a), is to provide for the payment of Executive’s current base compensation of $300,000 per year through June 30, 2004.
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CONTINUED PAYMENT OF BASE SALARY. Subject to paragraphs 4 and 5 of this Agreement and subject to Executive’s compliance with Sections 8 and 9 of the Employment Agreement, Executive shall be entitled to receive the continued payment of Executive’s Base Salary (as defined in the Employment Agreement) following the Resignation Date and until January 8, 2013 (the “Continued Base Salary”). Executive shall also be entitled to receive payment of the amount of Executive’s accrued but unused vacation as of Executive’s Resignation Date, payable in accordance with the Company’s customary practices.
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Related to CONTINUED PAYMENT OF BASE SALARY

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $500,000 per annum, which shall be paid in accordance with the customary payroll practices of the Company and shall be pro-rated for partial years of employment. Such annual base salary shall be reviewed (and may be adjusted) from time to time by the Board (such annual base salary, as it may be adjusted from time to time, the “Annual Base Salary”).

  • Base Salary Executive will be paid an annual base salary, during the Term, in the amount set forth in Addendum A, as may be increased or decreased by Employer from time to time (“Base Salary”). The Base Salary shall be payable by Employer in regular installments in accordance with Employer’s general payroll practices (in effect from time to time). All amounts payable to Executive as compensation hereunder shall be subject to all required and customary withholding by Employer.

  • Accrued Salary On the Separation Date, the Company will pay you all accrued salary earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Continued Benefits For a 36 month period after the Date of Termination (the "Benefits Period"), the Company shall provide the Executive with group term life, accident, long-term disability, medical, and health insurance coverage and benefits (collectively, "Welfare Benefits") that (a) subject to clause (b) hereof, are substantially similar in all respects to those which the Executive was receiving immediately prior to the Notice of Termination (without giving effect to any reduction in such benefits subsequent to a Change in Control that would constitute Good Reason); provided, however, (b) if a Change in Control involving National City Corporation occurs within 18 months of the date of this Agreement, in lieu of clause (a) hereof for portion of the Benefits Period commencing on and after the January 1 of the calendar year immediately following the calendar year in which the Change in Control occurred, are not less favorable in all respects to those being provided to actively employed senior executives of the Company from time-to-time after such January 1. During the Benefits Period, the Executive shall be entitled to elect to change his level of coverage and/or his choice of coverage options (such as the Executive only or family medical coverage) with respect to the Welfare Benefits to be provided by the Company to the Executive to the same extent that actively employed senior executives of the Company are permitted to make such changes; provided, however, that in the event of any such changes, the Executive shall pay the amount of any cost increase that would actually be paid by an actively employed senior executive of the Company by reason of making the same changes in his level of coverage or coverage options. In the event that the Executive becomes employed by a new employer and is eligible to receive health insurance and/or other welfare benefits ("New Coverage"), the Welfare Benefits coverage provided under this Section 3.2 shall be secondary to such New Coverage.