Example ContractsClausesCash Payment
Cash Payment
Cash Payment contract clause examples

Cash Payment” shall have the meaning set forth in Section 2.1 hereof.

Cash Payment. A lump sum cash payment equal to fifty-two (52) weeks of Executive’s salary as of the date on which Executive’s separation from service occurs, payable as provided in Section 6(b). The lump sum cash payment will be considered wages allocated equally to each of the weeks covered by the payment for purposes of any applicable unemployment compensation or workers compensation laws, and any applicable disability insurance program, but will not be considered to extend Executive’s employment beyond the date of Executive’s separation from service under any Company qualified retirement plan or other Company benefit plan or program.

Cash Payment. A lump sum cash payment equal to fifty-two (52) weeks of Executive’s salary as of the date on which Executive’s separation from service occurs, payable as provided in Section 6(b). The lump sum cash payment will be considered wages allocated equally to each of the weeks covered by the payment for purposes of any applicable unemployment compensation or workers compensation laws, and any applicable disability insurance program, but will not be considered to extend Executive’s employment beyond the date of Executive’s separation from service under any Company qualified retirement plan or other Company benefit plan or program.

Cash Payment. The Company will make a lump-sum cash payment to the Covered Employee in an amount equal to the sum of: (i) twenty-four (24) months of the Covered Employee's annual Base Pay, plus (ii) 200% of the Covered Employee's target bonus established for the year in which the Termination of Employment occurs. As a condition to receiving such payment, the Covered Employee must execute and deliver, no later than sixty (60) days after the Date of Termination and not subsequently rescind, a release of claims substantially in the form attached hereto as Exhibit A (a “Release of Claims”), with only such changes as may be necessary to conform to subsequent changes in applicable employment laws. Payments under this Section 2(a) will be paid on the thirtieth (30th) day following the later of the date that the Change in Control is consummated, the date that the Covered Employee's rights to rescind such Release of Claims expire, or, if applicable, the date provided in Section 2(c). Notwithstanding anything to the contrary in this Agreement, if any payments or benefits under this Agreement are deferred compensation under Section 409A of the Code, and the period during which the Covered Employee may sign the Release of Claims begins in one calendar year and the first payroll date following the period during which the Covered Employee may sign the Release of Claims occurs in the following calendar year, then the payment or benefit shall not be paid or the first payment shall not occur until the later calendar year.

Cash Payment. Upon the earliest to occur of: (i) the undersigned’s death or disability (as defined in Treasury Regulation Section 1.409A-3(i)(4)(i)(A)) or (ii) the consummation of a Covered Transaction (provided that such Covered Transaction constitutes a “change in the ownership or effective control” of the Company or a “change in the ownership of a substantial portion of the assets” of the Company, in each case within the meaning of Code Section 409A and the regulations promulgated thereunder), or (iii) the completion of the Performance Period, the vested portion of such Award, if any, shall be paid in cash following the date of such death, disability, Covered Transaction, or the completion of the Performance Period, subject to the undersigned executing a restrictive covenant agreement (containing nonsolicitation, nondisparagement and nondisclosure provisions) which includes a general release of claims in favor of the Company (such agreement, the “Release”) within sixty (60) days following the date of such death, disability, Covered Transaction or the completion of the Performance Period, with payment to be made within five (5) business days after the date the Release becomes non-revocable; provided, however, that if such sixty (60) day period spans two calendar years, payment shall be made in the second calendar year, regardless of when the Release becomes non-revocable (the date on which such payment is made, the “Payment Date”); provided, further, that if the undersigned is terminated for Cause prior to the Payment Date, the entire Award shall be immediately forfeited with no compensation due to the undersigned (including, without limitation, if at any time following the undersigned’s termination of Continuous Service and prior to the Payment Date, the Board determines that grounds to terminate the undersigned’s Continuous Service for Cause existed at the time of such termination). For the avoidance of doubt, if the Release does not become non-revocable within sixty (60) days following the date of such death, disability, Covered Transaction or the completion of the Performance Period, no Cash Retention Bonus shall be payable.

Cash Payment. Notwithstanding anything in the Plan to the contrary, in lieu of issuing Shares in respect of the Director Stock Award, the Board may, in its discretion, direct that a cash payment be made to the Participant on such terms as determined by the Board (any such Director Stock Award paid in cash, a “Director Cash Award”). If (i) a Participant has elected to receive such Participant’s Director Stock Award in the form of Stock Units and (ii) the Board has elected to pay such Director Stock Award in the form of a Director Cash Award, then the Stock Units issued to the Participant shall be treated in accordance with Section 8.5. For the avoidance of doubt, any Director Cash Award shall be paid under this Plan and no such award shall be deemed made under the Stock Plan.

Cash Payment: Each Non-Employee Director shall be paid the amount of cash retainer applicable to such Non-Employee Director in four (4) equal quarterly payments to be made on the fifth (5th) business day following the end of each fiscal quarter of the Company during which such Non-Employee Director has continuously served as a member of the Board (or applicable committee of the Board), or as soon thereafter as is administratively possible. Notwithstanding anything in this Policy to the contrary, in the event a Non-Employee Director assumes or vacates a position on the Board or one of its committees during a quarter, such Non-Employee Director shall be entitled to a prorated portion of the cash compensation for such position for that quarter based on the percentage of days in that quarter during which such Non-Employee Director served in the position for which the cash retainer is payable under this Policy.

Cash Payment” has the meaning set forth in Section 2.7 below.

Cash Payment. A lump sum cash payment equal to fifty-two (52) weeks of Executive’s salary as of the date on which Executive’s separation from service occurs, payable as provided in Section 6(b), except that if the separation from service occurs during 2008 payment will be made by (A) continuing Executive’s then-current salary installments (in accordance with the Company’s normal pay practice) through December 31, 2008, and (B) payment to Executive as provided in Section 6(b) of a lump sum cash payment in an amount equal to the difference between fifty-two (52) weeks of Executive’s salary and the amount of salary continuation paid under (A). The lump sum cash payment will be considered wages allocated equally to each of the weeks covered by the payment for purposes of any applicable unemployment compensation or workers compensation laws, and any applicable disability insurance program, but will not be considered to extend Executive’s employment beyond the date of Executive’s separation from service under any Company qualified retirement plan or other Company benefit plan or program.

Cash Payment. A lump sum cash payment equal to fifty-two (52) weeks of Executive’s salary as of the date on which Executive’s separation from service occurs, payable as provided in Section 6(b). The lump sum cash payment will be considered wages allocated equally to each of the weeks covered by the payment for purposes of any applicable unemployment compensation or workers compensation laws, and any applicable disability insurance program, but will not be considered to extend Executive’s employment beyond the date of Executive’s separation from service under any Company qualified retirement plan or other Company benefit plan or program.

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