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Best Pay
Best Pay contract clause examples

Severance Pay. The Company will pay you a lump sum severance payment (the “Severance Pay”) in an amount equal to twelve (12) months of your Base Salary less the amount of Base Salary you receive during the Transition Period. The Company will pay you the Severance Pay, subject to tax-related deductions and withholdings, within thirty-five (35) days of the Separation Date provided the Supplemental Release (as defined in the Supplemental Release) has become fully effective. You acknowledge and agreed that you are not entitled to any bonus for 2019, 2020 or otherwise and that the Severance Pay shall be your sole post-employment compensation.

Severance Pay. The Company will pay you, as severance, the equivalent of twelve (12) months of your base salary in effect as of the Separation Date (the “Severance Payment”). The Severance Payment will be paid in the form of salary continuation payments on the Company’s regular payroll schedule, subject to standard payroll deductions and withholdings, with the first salary continuation payment being made on or before the Company’s second regularly scheduled payroll pay date that is after the Separation Date Release Effective Date (as defined in the Separation Date Release).

Severance Payment. Pursuant to the terms of your Employment Agreement with the Company dated August 10, 2015 (the “Employment Agreement”), the Company will pay you six (6) months of your base salary, less standard payroll deductions and tax withholdings, as cash severance plus any bonus amounts determined in accordance with Section 4 below (the “Severance”). The Severance will be paid # for the base salary, in the form of continuing base salary payments on the Company’s regular payroll schedule, with such payments to start on the first payroll date thirty (30) days following the Separation Date, and # for the bonus, as provided in Section 4 below. You acknowledge and agree that such continuing payments represent the cash severance you are entitled to under the Employment Agreement.

Severance Pay. The Company will pay you the equivalent of nine (9) months of your base salary in effect as of the Separation Date, subject to standard payroll deductions and withholdings (“Severance Pay”). The Severance Pay will be paid in the form of salary continuation over the nine (9) month period following the Separation Date on the Company’s regular payroll reschedule, with the first payment occurring on the first regularly scheduled payday no earlier than one (1) week after the Effective Date (as defined herein).

Cash Severance Payments. You will be eligible to receive cash severance equal to twelve (12) months of Base Salary following the termination date, subject to payroll withholding and deduction (“Severance Payments”), and paid according to the Company’s regular payroll procedures. Payment of Severance Payments shall commence on the sixtieth (60th) day following your employment termination, which initial payment shall include a lump sum payment equal to the aggregate semi-monthly installments that would otherwise have been due during the period between the termination date and the sixtieth (60th) day, but for the sixty (60)-day delay in this provision. Thereafter, the remaining installments shall be paid on the Company’s regular paydays.

Severance Pay. The Company shall pay you severance pay consisting of nine (9) months of your final base salary rate (the “Severance Pay”). The Company shall pay you Severance Pay in a single lump sum payment during the first two weeks of January, 2021.

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