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Best Pay
Best Pay contract clause examples

Separation Pay. The Company agrees to pay Executive the lump sum of Twelve Thousand Sixteen Dollars and Sixty-Seven Cents ($12,016.67), less applicable tax withholdings (“Separation Pay”). This payment will be made on or before the sixtieth (60th) day following the Termination Date, but not later than 60 days after the date Executive has incurred a “separation from service” within the meaning of [section 409A(a)(2)(A)(i)] of the Internal Revenue Code of 1986, as amended. This payment will be subject to all legally required payroll deductions and withholdings.

On the 60th day following the Separation Date, the Company will pay the Executive a lump sum payment in the gross amount of Seven hundred twenty nine thousand and two hundred dollars ($729,200). This payment will be subject to all legally required payroll withholdings.

Separation Pay. An amount, in the aggregate, equal to $1,500,000 less all applicable withholdings, paid in substantially equal installments on the Company’s normal payroll dates over the 12-month period (the “Separation Payment Period”) beginning on the first regularly scheduled payroll date that is at least sixty (60) days following the Employment Termination Date.

The Company shall pay the Executive, subject to tax withholding and other authorized deductions, an amount equal to [twelve (12)]1 months (the “Severance Period”) of the Executive’s base salary at the monthly rate in effect on the Severance Date, such amount to be paid in installments in accordance with the Company’s standard payroll schedule over the [twelve]-month period following the Severance Date (provided that the first such payment shall be made on (or within 10 days following) the sixtieth (60th) day after the Severance Date and shall include each such installment that is scheduled to be paid following the Severance Date and prior to the date of such payment).

An amount equal to $​, less applicable deductions and withholdings, which shall be paid in equal monthly for a period of twelve (12) months. This severance payment will be made on the next payroll date following the sixtieth (60th) day after the date of Executive’s date of termination of employment, provided Executive has executed and not revoked this Agreement.

Severance Pay. The Company will pay to Executive $378,216.08 less all applicable taxes and withholdings, as severance pay (an amount equivalent to twelve (12) months of Executive’s current base salary) (the “Severance Pay”). The Severance Pay will be paid in one lump sum within ten (10) business days following the Separation Date.

Final Paycheck. As soon as administratively practicable on or after the Separation Date, the Company will pay Executive all accrued but unpaid base salary and $9,655.29, which constitutes all accrued and unused paid time off earned through the Separation Date, in each case, subject to standard payroll deductions and withholdings. Executive is entitled to these payments regardless of whether Executive executes this Agreement.

Separation Pay. The Company will pay Executive separation pay in the gross amount of One Million and Six Hundred Twenty-Five Thousand Dollars ($1,625,000.00), which is the equivalent of three and one-quarter (3 1/4) years of Base Salary. The payments shall be payable as salary continuation (each, a “Separation Payment”) during the three and one-quarter (3 1/4) year period immediately following the Retirement Date (“Separation Period”). Each Separation Payment shall be paid pro rata on the Company’s regular payroll dates, commencing with the first payday following the Retirement Date.

Severance Payments. Executive shall be entitled to receive an amount equal to $167,500.08, which constitutes six months of Executive’s base salary at the rate in effect immediately prior to the Separation Date. Such amount shall be paid in a single cash lump sum, less applicable withholdings, on the first payroll date following the Effective Date.

Base Salary. The Company shall pay to Executive an amount equal to six (6) months’ Base Salary. Such severance amount shall be paid in cash in a single lump sum on the 60th day following Executive’s Separation from Service, subject to [Sections 3.1 and 3.3]3] below, and shall be subject to all required tax withholding.

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