Make Whole Payment. In order to compensate Employee for all benefits and payments that Employee forfeited when he ceased employment with his former employer, Employee shall receive cash payments equal to $200,000, $100,000 of which shall be payable on the Start Date and $100,000 of which shall be payable on July 2, 2012, provided that Employee remains continuously employed by the Company on such dates.
Appears in 2 contracts
Sources: Employment Agreement (XPO Logistics, Inc.), Employment Agreement (XPO Logistics, Inc.)
Make Whole Payment. In order to compensate compensation Employee for all benefits and payments that Employee forfeited when he ceased employment with his former employer, Employee shall receive a cash payments payment equal to $200,000250,000 (the “Make-Whole Payment”), $100,000 of which shall be payable on the Start Date and $100,000 of which shall be payable on July 2no later than March 15, 2012, provided that that, except to the extent provided in Sections 5(d)(iii) and 5(e)(iii) of this Agreement, Employee remains continuously employed by the Company on such datesthe payment date.
Appears in 1 contract