Dividends Payable on Vesting. Unless otherwise provided in an Award Agreement, whenever Unrestricted Shares are issued to a Participant pursuant to Section 8(d) above, the Participant shall also receive, with respect to each Share issued, # a number of Shares equal to the stock dividends which were declared and paid to the holders of Shares between the Grant Date and the date such Share is issued, and # a number of Shares having a Fair Market Value equal to any cash dividends that were paid to the holders of Shares based on a record date between the Grant Date and the date such Share is issued.
No STIP Bonus Payable. For any year in which an Officer does not receive a STIP Bonus and the provisions of Section 3.2(a) applicable to Officers at a Pay Level nine (9) or ten (10) do not apply, zero dollars ($0.00) will be used as that year’s STIP Bonus amount in the Average Bonus Amount calculation.
For the purpose of the financial covenant set out in Clause 18.3 (Interest cover), in relation to any Measurement Period ending less than 12 months from the date of this Agreement, Interest Payable shall be calculated ignoring any amounts accrued before the date of this Agreement and in respect of the period after the date of this Agreement shall be increased by a factor of A/B where 'A' is 365 and 'B' is the total number of calendar days between the date of this Agreement and the last day of such Measurement Period.
If the Executive is entitled to receive the severance benefits described in Section 2 of this Agreement, he or she shall not be entitled to receive: # any severance benefits under the terms of any general severance pay policy or plan of the Employer or any successor company; or # any other compensation, benefits or payments under the terms of any other plan of, or agreement with, the Employer.
Fail to pay its accounts payable or collect its accounts receivable in accordance with past practices;
the Base Salary accrued through the termination date, payable under the Companys usual payment practices;
Your gross annualized starting salary will be $525,000, payable in accordance with the Company's regular payroll practices.
3(a), payable in accordance with [[Organization A:Organization]]’s then effective payroll practices (your “Regular Payroll Amount”) as follows:
Base Salary. Employee shall be paid a base salary ("Base Salary"), payable in accordance with the regular payroll practices of , as follows:
•Base Salary: You will receive an annual base salary of $650,000, payable in accordance with the Company’s standard payroll practices, currently bi-weekly, subject to applicable tax withholdings.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.