Severance And Final Wage Payment Dute Date

I have s Separation and Release Agreement from a New Jersey corporation which has following paragraphs:

1. Termination Date. Employee acknowledges that his employment with the Company will terminate August 1st, 2008 ("Termination Date"). The Company agrees that it will pay Employee his regular pay and any accrued but unused vacation through the Termination Date, less applicable tax withholding deductions and prior vacation advances if any.

3. Terms of Separation. Provided the Employee executes and does not revoke this agreement, returns all equipment, materials and reains until termination date and records of the Company which are in his possession, custody or control, assists in the transition of his responsibilities and abides by the provisions of this Agreement, the Company will continue to pay the employee for four (4) weeks his base salary as severance, at the rate in effect immediately prior to the Termination Date, less applicable tax withholdings, on or before August 1st, 2008.

That being said, it is my contention that on or before August 1st, 2008 my employer owes my the amount of my severance, in full.

Am I correct? If so, how would I properly advise my employer of this requirement as a matter of law by virtue of the aforementioned language.

Also, the pay date for the pay cycle ending on August 1st is August 8th. Does my employer by virtue of the severance agreement have to pay me my final wages, including those for accrued but unused vacation on or before August 1st, 2008 or are they allowed to wait until the next pay date?

Thank you for your learned expertise.