Pay Continuation Clause Samples

Pay Continuation. The Employee shall be entitled to monthly payments equal to the Employee's monthly Base Compensation as in effect immediately prior to the Change of Control plus one-twelfth (1/12) of the average of the annual bonus amount paid to the Employee with respect to the three previous calendar years. Such monthly amounts shall be paid according to the normal payroll practice of the Company for 12 months following the date of termination (the "Termination Period").
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Pay Continuation. If an employee who has filed a claim for workers compensation is unable to work due to the injury and has provided his/her supervisor with written authorization to be off work from his/her treating physician, the employee will continue to receive the same wage at the same pay interval that the employee received at the time of injury based upon the employee’s regular working schedule, exclusive of overtime. Such payment shall be deemed timely payment of temporary disability payments pursuant to Oregon law. This compensation will commence after the required three (3) day waiting period has been met, and shall continue for 180 consecutive calendar days from the date upon which payments commence or until the employee has returned to regular or modified work pursuant to written authorization from the employee’s treating physician. If the employee continues to be unable to work beyond 180 consecutive calendar days from the date upon which payments commence as authorized in writing from his/her treating physician, then the employee will begin receiving temporary disability compensation as required by Oregon law. The employee shall not complete qualified payroll periods after the 180 consecutive calendar days of pay continuation if the employee remains unable to work. When receiving temporary disability compensation, the employee may elect to use accrued leave to make up the difference between temporary disability compensation and his/her regular straight time pay. The day of injury shall be considered a work day, and the employee will receive his/her regular straight time pay for that day without charging his/her leave accruals for any time not worked due to the injury.
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Pay Continuation. Contingent on your execution of this Agreement and it becoming effective as described in section 7, the Company will pay you an amount equal to six (6) months of your current base salary ($290,000.00 annualized), less all required local, state, federal and other employment-related taxes and deductions (the “Severance”). The Severance will be paid in one lump sum, in a check in the amount of $145,000 upon execution of this Agreement, in accordance with the company’s standard payroll policies.
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Pay Continuation. The Employee shall be entitled to monthly payments equal to (A) one-twelfth (1/12) of the greater of the Base Compensation in effect immediately prior to the Change of Control and the Base Compensation in effect immediately prior to such termination plus (B) one-thirty-sixth (1/36) of the aggregate amounts paid to the Employee under the Company’s bonus and incentive programs with respect to the three previous calendar years. Such monthly payments shall be paid according to the normal payroll practice of the Company for 18 months following the date of termination (the “Termination Period”).
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Pay Continuation. You will receive Pay Continuation in the gross amount of your annual base salary as of the date of this Agreement, which shall be paid to you in bi-weekly installments, subject to withholdings, in accordance with Key's normal payroll procedures for a period of 52 weeks (e.g., from July 2, 2022 to June 30, 2023) (the "Pay Continuation Period"), or until the Pay Continuation amount is fully paid, whichever occurs first. Such Pay Continuation payments shall commence within 10 business days after the Release becomes effective and irrevocable. The first payment installment will include all amounts accrued from the Termination Date to the date of such installment. In no event shall Pay Continuation payments be made after one year following your Termination Date.
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Pay Continuation agrees to continue EMPLOYEE’S pay through _________________________ or make a one time lump sum payment of $____________.
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Related to Pay Continuation

  • 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.

  • Conversion/Continuation (a) Subject to Section 2.15 and so long as no Specified Event of Default shall have occurred and then be continuing, Borrower shall have the option: (i) to convert at any time all or any part of any Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrower shall pay all amounts due under Section 2.15 in connection with any such conversion; or (ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a Eurodollar Rate Loan. (b) Subject to clause (c) below, Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to effect a conversion or continuation in accordance therewith. (c) Any Conversion/Continuation Notice shall be executed by an Authorized Officer in a writing delivered to Administrative Agent. In lieu of delivering a Conversion/Continuation Notice, Borrower may give Administrative Agent telephonic notice by the required time of any proposed conversion/continuation; provided each such notice shall be promptly confirmed in writing by delivery of the Conversion/Continuation Notice to Administrative Agent on or before the close of business on the date that the telephonic notice is given. In the event of a discrepancy between the telephone notice and the written Conversion/Continuation Notice, the written Conversion/Continuation Notice shall govern. In the case of any Conversion/Continuation Notice that is irrevocable once given, if Borrower provides telephonic notice in lieu thereof, such telephone notice shall also be irrevocable once given. Neither Administrative Agent nor any Lender shall incur any liability to Borrower in acting upon any telephonic notice referred to above that Administrative Agent believes in good faith to have been given by a duly authorized officer or other person authorized on behalf of Borrower or for otherwise acting in good faith.

  • 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”).

  • 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.

  • Conversion and Continuation of Borrowings The Borrower shall have the right at any time (subject to Section 2.02(b)) upon prior written or fax notice to the Administrative Agent (i) not later than 12:30 p.m., one Business Day prior to conversion, to convert any Eurodollar Borrowing into an ABR Borrowing and (ii) not later than 12:30 p.m., three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, subject in each case to the following: (a) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (b) if less than all of the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(b) and 2.02(c) regarding the principal amount and maximum number of Borrowings of the relevant Type; (c) each conversion shall be effected by each Lender and the Administrative Agent recording, for the account of such Lender, the Type of such Loan resulting from such conversion and reducing the Loan (or portion thereof) of such Lender being converted by an equivalent principal amount; accrued interest on any Eurodollar Loan (or portion thereof) being converted shall be paid by the Borrower at the time of conversion; and (d) if any Eurodollar Borrowing is converted at a time other than the end of the Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.16. Each notice pursuant to this Section 2.10 shall be irrevocable (subject to Sections 2.08 and 2.15) and shall refer to this Agreement and specify (i) the identity and amount of the Borrowing that the Borrower requests be converted or continued, (ii) whether such Borrowing is to be converted to or continued as a Eurodollar Borrowing or an ABR Borrowing, (iii) if such notice requests a conversion, the date of such conversion (which shall be a Business Day) and (iv) if such Borrowing is to be converted to or continued as a Eurodollar Borrowing, the Interest Period with respect thereto. If no Interest Period is specified in any such notice with respect to any conversion to or continuation as a Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall advise the Lenders of any notice given pursuant to this Section 2.10 and of each Lender’s portion of any converted or continued Borrowing. If the Borrower shall not have given notice in accordance with this Section 2.10 to continue any Borrowing into a subsequent Interest Period (and shall not otherwise have given notice in accordance with this Section 2.10 to convert such Borrowing), such Borrowing shall, at the end of the Interest Period applicable thereto (unless repaid pursuant to the terms hereof), automatically be converted into an ABR Borrowing. This Section shall not apply to Swingline Borrowings or Protective Advances, which shall at all times be ABR Borrowings.