Payments to the Employee Clause Samples
Payments to the Employee. 2.1 The Company shall on its own behalf, and on behalf of all Associated Companies, pay the following sums to the Employee:-
(a) any outstanding salary and 7.42 days’ holiday pay which has accrued up to the Termination Date less appropriate deductions for income tax and employees’ National Insurance contributions, within 30 days of the later of the Termination Date and the date of this Agreement;
(b) a payment in respect of any outstanding business expenses incurred by the Employee up to the Termination Date in accordance with the Company’s usual policies and procedures relating to expenses, within 7 days of the later of the Termination Date and the date of this Agreement;
(c) a payment of £261,046 as compensation for the loss of the Employee’s notice period less appropriate deductions (if any) for income tax and employees’ National Insurance contributions, within 7 days of the later of the Termination Date and the date of this Agreement;
(d) The Company shall, without any admission of liability whatsoever, pay into the Company’s Group Personal Pension Plan (the “Pension Scheme”) the sum of £50,000, within 7 days of the later of the Termination Date and the date of this Agreement, which shall be applied by the trustees of the Pension Scheme on a money purchase basis for the exclusive purpose of providing benefits to or in respect of the Employee, subject to HM Revenue & Customs limits and to the provisions of the governing documentation of the Pension Scheme:
(e) a payment of £367,350, without any admission of liability whatsoever, as compensation for loss of employment and in respect of the Particular Claims and Proceedings (as defined in Clause 5 below) less any appropriate deductions for income tax and employees’ National Insurance contributions. £183,675 shall be paid 6 months after the Termination Date and £183,675 shall be paid 12 months after the Termination Date.
2.2 The Employee agrees that:
(a) the Company may deduct from the sums referred to in Clause 2.1 any monies owed by the Employee to the Company or any Associated Company including, but not limited to, amounts due in respect of outstanding loan payments and excess holiday pay;
(b) except for the sums and benefits referred to in this Agreement, no other sums or benefits are due to the Employee from the Company or any Associated Company;
(c) notwithstanding the parties’ belief that the first £30,000 in value of the payment and benefits provided, or to be provided, to the Employee pursuant to ...
Payments to the Employee. Any payments to the Employee, his estate or designated beneficiary pursuant to the terms of this Agreement shall be reduced by such amounts as are required to be withheld under all present and future federal, state, and local tax and other laws and regulations.
Payments to the Employee. Upon the execution of this Agreement, Chico's shall pay to Payner, as severance pay, an amount equal to $239,063.73, subject to any applicable federal and state employment taxes and other authorized withholdings, including without limitation social security and wage withholding.
Payments to the Employee under this Subsection IIIC will be made in accordance with the regular payroll practices of the Employer during the remaining term of this Agreement or, at the election of the Employer, such payments may be made in a lump sum.
Payments to the Employee. 2.1 The Company shall on its own behalf, and on behalf of all Associated Companies pay the following sums to the Employee within 14 days of the Termination Date:-
(a) any outstanding salary and holiday pay which has accrued up to the Termination Date less appropriate deductions for income tax and employees’ National Insurance contributions;
(b) a payment in respect of any outstanding business expenses incurred by the Employee up to the Termination Date in accordance with the Company’s usual policies and procedures relating to expenses.
2.2 The Employee agrees that except for the sums and benefits referred to in this Agreement (and the Consultancy Agreement in Annex 4), no other sums or benefits are due to the Employee from the Company or any Associated Company (including, without limitation, any bonuses and/or stock awards pursuant to the 2001 Global Annual Incentive Plan or 2006 Long Term Incentive Plan).
2.3 The Employee and the spouse shall continue to benefit from the Private Health Scheme provided by the Company until 31 May 2009 subject to the rules of the scheme from time to time.
2.4 Unless notified otherwise by the Company on or before the Termination Date, the Employee shall be entitled to purchase from LeasePlan UK Ltd. the Audi A6 registration number BP06DZE for £11,108.00 within 30 days of the Termination Date.
2.5 The Company shall pay for the Employee to receive Executive Outplacement Support from Careers Management Consultants Limited up to a cost of £5,500 plus VAT, such payment to be made directly to Careers Management Consultants Limited upon the receipt of appropriate invoices.
Payments to the Employee. As soon as practicable following the execution of this Agreement, but in no event later than December 29, 2000, the Company shall:
(a) pay to the Employee the full value of the Employee's accrued vacation time under the Vacation Policy, determined as of December 31, 2000 (the "Vacation Amount");
(b) pay to the Employee the full value of the Employee's account balance under the SEDC, determined as of December 26, 2000 (the "SEDC Amount");
(c) pay to the Employee (x) in satisfaction of an equal amount of the Company's obligation under the Letter Agreement with respect to guaranteed bonuses (the "Bonus Amount," and, together with the Vacation Amount and the SEDC Amount, the "Compensation Payment" ); and
(d) pay to the Employee an amount equal to the excess of (1) (y) over (2) the Compensation Payment (such excess being hereinafter referred to as the "Special Compensation Amount").
Payments to the Employee. 3.1 The Company shall make the following payments to the Employee on the terms and conditions set out herein below:
3.1.1 On or before 25th September 2018, the Company shall make payment to the Employee in respect of all her accrued annual leave as at 30th September 2018 taking into account any Annual Leave taken prior to the 30th September 2018.
3.1.2 For the sake of clarity, all benefits to which the Employee is entitled in terms of this Agreement have been calculated and this calculation is attached hereto as Annexure “B”.
3.2 The Employee shall be paid the amounts set out hereinabove, less any deductions including but not limited to income tax, as the Company may be required to deduct.
3.3 The Company shall pay the amounts set out hereinabove, less any deductions including but not limited to income tax, into the Employee’s bank account and as per the Employee’s banking details that currently prevail with the Company’s payroll system, unless otherwise directed by the Employee in writing on or before the Notice Date.
3.4 It is recorded that the aforesaid payments are in respect of all amounts which are now or may in future be owing by the Company or any entity within the Group of Companies to the Employee howsoever arising.
3.5 No additional payments, save for what is recorded herein, will be made by the Company to the Employee, howsoever arising. 2.
Payments to the Employee. 2.1 In accordance with the agreement between the Company and the Employee to separate the Employee from employment under the terms of Employment Agreement between the Company and the Employee dated September 15, 2009, the Company shall on its own behalf, and on behalf of all Associated Companies, pay the following sums to the Employee within 10 days of the Termination Date:-
(a) a payment of $4m (less any amount that the Company pays pursuant to clauses 2.1 (b) and 3.1), without any admission of liability whatsoever, as compensation for loss of employment and in respect of the waiver and settlement of claims and proceedings as set forth and defined in Clause 5 below either, and at the Employee’s prior direction, wholly or partly paid gross without deductions into a pension scheme nominated by the Employee and converted into pounds sterling at the spot rate of exchange applicable on the date of payment, or wholly or partly into a US dollar account nominated by the Employee less any appropriate deductions for income tax and employees’ National Insurance contributions; and
(b) a payment of £500 in respect of the Employee’s obligations under Clause 7.2 of this Agreement less appropriate deductions for income tax and employees’ National Insurance contributions.
(c) The Company confirms it is not aware that the Employee owes any monies to either the Company or any Associated Company including, but not limited to, amounts due in respect of outstanding loan payments, excess holiday pay and any other payments due to the Company.
2.2 The Employee agrees that:
(a) except for the sums and benefits referred to in this Agreement, no other sums or benefits are due to the Employee from the Company or any Associated Company;
(b) notwithstanding the parties’ belief that the first £30,000 in value of the payment and benefits provided, or to be provided, to the Employee pursuant to Clause 2.1(a) of this Agreement is exempt from tax and National Insurance liability he will indemnify the Company against all taxes and employees’ National Insurance contributions in respect of the payments and benefits provided, or to be provided, pursuant to this Agreement, and all costs, claims, expenses or proceedings, penalties and interest incurred by the Company which arise out of or in connection with any liability to pay (or deduct) tax or employees’ National Insurance contributions in respect of such payments and benefits save in relation to any tax or national insurance deducted at sourc...