Example ContractsClausesBase Salary Continuation
Base Salary Continuation
Base Salary Continuation contract clause examples

Base Salary Continuation. The Company will provide you with continuation of your current base salary for a period of twelve (12) months (the "Base Salary Payments), less required payroll deductions and tax withholdings. Base Salary Payments will commence on the first payroll pay date following the Effective Date and shall be paid in accordance with the Company's payroll schedule then in effect.

Base Salary Continuation. The Company shall continue to pay Executive’s Base Salary, less required withholdings, for a period of 12 months (the “Disability Base Salary Payments”) following Executive’s separation from service; provided that the Disability Base Salary Payments shall be reduced by any insurance or other payments to Executive under policies and plans sponsored by the Company, even if premiums are paid by Executive. Subject [[Organization A:Organization]] provisions of Section 6.11, the Disability Base Salary Payments shall be paid in accordance with the Company’s standard payroll practices; provided, however, that any amounts that would otherwise be scheduled to be paid prior [[Organization A:Organization]] Release Effective Date shall instead accrue and be paid during the first payroll period following the Release Effective Date, and all other payments shall be made as originally scheduled.

Base Salary Continuation. If the Company terminates Executive’s employment without Cause or Executive terminates Executive’s

Base Salary Continuation. The Company shall continue to pay Executive’s Base Salary, less required withholdings, for a period of 12 months (the “Disability Base Salary Payments”) following Executive’s separation from service; provided that the Disability Base Salary Payments shall be reduced by any insurance or other payments to Executive under policies and plans sponsored by the Company, even if premiums are paid by Executive. Subject [[Organization A:Organization]] provisions of [Section 6.11], the Disability Base Salary Payments shall be paid in accordance with the Company’s standard payroll practices; provided, however, that any amounts that would otherwise be scheduled to be paid prior [[Organization A:Organization]] Release Effective Date shall instead accrue and be paid during the first payroll period following the Release Effective Date, and all other payments shall be made as originally scheduled.

Salary Continuation. The Company will continue to pay your base salary for a period of nine months after your Separation, less required deductions and withholdings (the “salary continuation”). The Salary Continuation will be paid at the base salary rate in effect at the time of your Separation and in accordance with the Company’s standard payroll procedures. The Salary Continuation payments will commence within thirty (30) days after the Release Deadline and, once they commence, will be retroactive to the date of your Separation. The Salary Continuation payments will end when you commence new employment or substantial self-employment and you agree to inform the Company immediately in such event.

Salary Continuation. The Company agrees to pay Employee a total of Three Hundred Fifty Thousand Dollars ($350,000.00), at the rate of Thirteen-Thousand Four Hundred Sixty One Dollars and Fifty-Four Cents ($13,461.54) per bi-weekly pay period, less applicable withholdings, for one (1) year beginning on the later of # the Company’s first regular payroll date that occurs on or after the sixtieth (60th) day following the Separation Date or # the Company’s first regular payroll date that occurs at least ten (10) business days following the Supplemental Effective Date (as defined in the Supplemental Release).

Salary Continuation. Employee shall continue to receive Employee's then current Base Salary for a period of twelve (12) months following Employee's termination of employment by the Company for reasons other than Cause. All such severance payments shall be paid in accordance with the Company's normal payroll practices. Such continuation of Employee's Base Salary shall be in lieu of any and all other benefits which Employee is entitled to receive on the date of Employee's termination of employment pursuant to any Company severance and benefit plans and practices or pursuant to other agreements with the Company. Employee shall not be entitled to pro-rated payment of an annual bonus.

Salary Continuation. The Company agrees to pay Employee a total of Three Hundred Sixty-Seven Thousand Dollars ($367,000.00), at the rate of Fourteen-Thousand One Hundred Fifteen Dollars and Thirty-Eight Cents ($14,115.38) per bi-weekly pay period, less applicable withholdings, for one (1) year beginning on the Company’s first regular payroll date that occurs at least ten (10) business days following the Supplemental Effective Date (as defined in the Supplemental Release).

Salary Continuation. If you are subject to an Involuntary Termination, then the Company will continue to pay your base salary for a period of 6 months after your Separation. Your base salary will be paid at the rate in effect at the time of your Separation and in accordance with the Company's standard payroll procedures. The salary continuation payments will commence within 60 days after your Separation and, once they commence, will include any unpaid amounts accrued from the date of your Separation. However, if the 60-day period described in the preceding sentence spans two calendar years, then the payments will in any event begin in the second calendar year.

For a period of months defined above, the Executive Officer will continue to receive his or her regular salary, equal to the base salary received as of the separation date. These payments will be made in accordance with FHLBank’s current payroll cycle and subject to all appropriate withholding and taxation. These payments will be subject to the Executive Officer’s continued adherence to the terms and provisions of the Separation Agreement and may be subject to reduction due to any payments the Executive Officer may owe to FHLBank.

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