Continued Salary Clause Samples
The Continued Salary clause ensures that an employee will keep receiving their regular salary under certain specified circumstances, such as during periods of leave, illness, or after termination with notice. Typically, this clause outlines the duration and conditions under which salary payments will continue, and may specify exceptions or limitations, such as offsets for other income or statutory benefits. Its core practical function is to provide financial security for employees during transitional periods, while also clarifying the employer’s obligations and preventing disputes over salary entitlements.
POPULAR SAMPLE Copied 1 times
Continued Salary. Subject to the Executive entering into an agreement not to compete with BNC in accordance with section 4.5, if BNC terminates the Executive's employment without Cause within 18 months after the date of this Employment Agreement, the Executive shall be entitled to a lump-sum severance payment in cash in the amount of two times his Base Salary, payable no later than 30 days after termination of the Executive's employment. Subject to the Executive entering into an agreement not to compete with BNC in accordance with section 4.5, if the Executive terminates his employment voluntarily within 18 months after the date of this Employment Agreement he shall be entitled to a lump-sum severance payment in cash in an amount equal to his Base Salary, payable no later than 30 days after termination of the Executive's employment. Subject to the Executive entering into an agreement not to compete with BNC in accordance with section 4.5, if the Executive remains employed with BNC for 18 months after the date of this Employment Agreement but his employment thereafter terminates involuntarily but without Cause or voluntarily but with Good Reason, the Executive shall continue to receive the Base Salary for the unexpired term of this Employment Agreement, but he shall not be entitled to continued participation in BNC's or a subsidiary's 401(k) retirement plan(s) or any stock-based plans. BNC and the Executive acknowledge and agree that the compensation and benefits under this paragraph (a) shall not be payable if compensation and benefits are payable or shall have been previously paid to the Executive under Article 5 of this Agreement. That is, the parties acknowledge and agree that the Executive shall not be entitled to duplicative compensation and benefit payments under paragraph (a) and under Article 5 if the Executive's employment is terminated without Cause or if the Executive voluntarily terminates employment.
Continued Salary. If BNC terminates the Executive’s employment without Cause or if the Executive terminates employment for Good Reason, the Executive shall continue to receive the Base Salary for the unexpired term of this Employment Agreement, but he shall not be entitled to continued participation in BNC’s or a subsidiary’s 401(k) retirement plan(s) or any stock-based plans. BNC and the Executive acknowledge and agree that the compensation and benefits under this paragraph (a) shall not be payable if compensation and benefits are payable or shall have been previously paid to the Executive under Article 7 of this Agreement. That is, the parties acknowledge and agree that the Executive shall not be entitled to duplicative compensation and benefit payments under paragraph (a) and under Article 7 if the Executive’s employment is terminated without Cause or if the Executive terminates employment with Good Reason.
Continued Salary. In consideration for the promises made herein, the Company shall provide ▇▇. ▇▇▇▇▇ bi-weekly payments commencing on the next regularly scheduled pay cycle following the date the Release of Claims referenced in paragraph 2 above becomes binding upon him in the amount of $9,200.00, less applicable taxes and withholdings, for a period of two (2) months. The total gross amount of these payments is $36,800.
Continued Salary. An amount equal to his current Annual Base Salary for the shorter of (A) his Short-Term Disability Period, or (B) the period he remains Disabled. For purposes hereof, Executive’s “current Annual Base Salary” shall be the rate in effect on the day immediately prior to the date upon which the Company is made aware of Executive’s Disability. Executive will receive such salary payments in accordance with the Company’s normal executive payroll processes.
Continued Salary. The Company will pay Executive continuing payments of severance pay at a rate equal to $18,900 per month ($226,800 annually), for six (6) months from the Termination Date (the “Severance Payment Period”), to be paid periodically in accordance with the Company’s normal payroll policies.
Continued Salary. From the Effective Date through the one-year anniversary of the Effective Date (the “Continuation Period”), the Company shall pay Executive his base salary at the rate of $300,000 per year in accordance with the Company’s standard payroll practices and subject to: (a) all withholdings required pursuant to any applicable local, state or Federal law; and (b) Section 9.4 below.
Continued Salary. From the Transition Date to December 31, 1999, Morr▇▇ ▇▇▇ll continue to be paid a monthly salary at the rate he was paid immediately prior to the Transition Date. Effective January 1, 2000, and ending on October 1, 2003 (which period constitutes the "Severance Period"), Morr▇▇ ▇▇▇ll be paid a monthly salary at a rate equal to twenty-four (24) forty-fifths (24/45), or 53.33%, of the rate at which he was paid immediately prior to the Transition Date. Said payments shall be made in semi-monthly payments, via direct deposit account, subject to normal payroll deductions. Any vacation pay due Morr▇▇ ▇▇▇ll be deemed included in these continued salary payments. During the Severance Period, Morr▇▇ ▇▇▇ll perform such duties and provide such services as the Company shall reasonably request.
Continued Salary. If the Employer terminates the Executive’s employment without Cause or if the Executive terminates his employment for Good Reason, and such termination is a Separation from Service as herein defined, the Executive shall continue to receive the Base Salary for the remaining term of the Agreement, but he shall not be entitled to continued participation in the Employer’s 401(k) retirement plan or any stock-based plans after the date of separation. The Employer and the Executive acknowledge and agree that the compensation and benefits under this paragraph (a) shall not be payable if compensation and benefits are payable or shall have been previously paid to the Executive under Article 6 of this Agreement. That is, the parties hereto acknowledge and agree that the Executive shall not be entitled to duplicative compensation and benefit payments under paragraph (a) and under Article 6 if the Employer terminates Executive’s employment without Cause or if the Executive terminates his employment with Employer with Good Reason.
Continued Salary. For the time period (the "Severance Period") beginning on the Transition Date and ending on the Retirement Date, Maho▇▇▇ ▇▇▇ll be paid his regular monthly salary in semi-monthly payments, via direct deposit account, subject to normal payroll deductions. The payment of these amounts during the Severance Period shall be deemed to include any vacation pay otherwise due Maho▇▇▇. ▇▇ring the Severance Period, Maho▇▇▇ ▇▇▇ll perform such duties and provide such services as the Company shall reasonably request.
Continued Salary. If Crescent terminates the Executive’s employment without Cause or if the Executive terminates employment for Good Reason, the Executive shall continue to receive the Base Salary for 24 months from the date of termination, but he shall not be entitled to continued participation in Crescent’s or a subsidiary’s 401(k) retirement plan(s) or any stock-based plans. Crescent and the Executive acknowledge and agree that the compensation and benefits under this paragraph (a) shall not be payable if compensation and benefits are payable or shall have been previously paid to the Executive under Article 7 of this Agreement. That is, the parties acknowledge and agree that the Executive shall not be entitled to duplicative compensation and benefit payments under paragraph (a) and under Article 7 if the Executive’s employment is terminated without Cause or if the Executive terminates employment with Good Reason.