Example ContractsClausesForfeiture or Lump Sum Payment
Forfeiture or Lump Sum Payment
Forfeiture or Lump Sum Payment contract clause examples
Previous results

Lump Sum Severance Payment. Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related

Lump Sum Severance Payment. Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

Lump Sum Cash Payment. On the tenth (10th) business day after the Date of Termination, Executive shall receive a lump sum cash payment in an amount equal to the sum of the following:

Single Lump Sum. Unless the Member elects an optional form of payment under the Plan pursuant to Section 3.03 below, the annual Pension Benefit, if any, payable to a Member under Section 3.01 shall be payable to the Member in a single lump sum (the "Regular Form") no later than ninety (90) days after the Member's Distribution Event. The

Single Lump Sum. Unless the Member elects an optional form of payment under the Plan pursuant to Section 3.03 below, the annual Pension Benefit, if any, payable to a Member under Section 3.01 shall be payable to the Member in a single lump sum (the "Regular Form") no later than ninety (90) days after the Member's Distribution Event. The same actuarial factors and assumptions then used by the Retirement Fund will be used to determine actuarial equivalence for purposes of this Section 3.02(a).

Automatic Lump Sum. Notwithstanding anything herein to the contrary, if the vested portion of a Participant’s Account balance is less than $25,000 under the Plan on the benefit commencement date determined pursuant to Section 6.1, distribution shall automatically be made in a single lump sum on the benefit commencement date.

Automatic Lump Sum. Notwithstanding anything herein to the contrary, if the vested portion of a Participant’s Account balance is less than $25,000 under the Plan on the benefit commencement date determined pursuant to Section 6.1, distribution shall automatically be made in a single lump sum on the benefit commencement date.

Lump Sum Payment Following Disability. If a Participant incurs a Disability while an employee of the Company and its Subsidiaries but before the Annual Benefit Commencement Date with respect to a Unit Award, then the payment under the Unit Award shall be a lump sum equal to five times the Annual Benefit. Such lump sum payment shall be in lieu of any other payments (including installment payments) with respect to a Unit Award. The lump sum payment shall be made during the calendar year in which the Participant incurred a Disability. The payment date within the calendar year shall be determined by the Company.

Lump Sum Payment Following Disability. If a Participant incurs a Disability while an employee of the Company and its Subsidiaries but before the Annual Benefit Commencement Date with respect to a Unit Award, then the payment under the Unit Award shall be a lump sum equal to five times the Annual Benefit. Such lump sum payment shall be in lieu of any other payments (including installment payments) with respect to a Unit Award. The lump sum payment shall be made during the calendar year in which the Participant incurred a Disability. The payment date within the calendar year shall be determined by the Company.

Subsequent Lump-Sum Payment Election. For Grandfathered Contribution Amounts only, a Participant who did not make an election pursuant to [Subparagraph 10(a)(ii)] or who has revoked, pursuant to [Subparagraph 10(c)], an election previously made under [Subparagraph 10(a)(ii)] or this [Subparagraph 10(b)] may, before the earlier of a Change in Control or the beginning of the calendar year in which the election is to take effect, elect to have the aggregate amount credited to the Participant’s Grandfathered Account for all calendar years commencing with the first calendar year beginning after the date the election is made, paid in one lump-sum as soon as practicable following a Change in Control, but in no event later than ninety (90) days after such Change in Control.

Next results

Draft better contracts
faster with AllDrafts

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.