Lump-Sum Cash Payment. In the event of a Qualified Termination of Employment (as hereinafter defined) the Corporation will pay to the Executive, as compensation for services rendered to the Corporation a lump-sum cash amount or amounts (subject to any applicable payroll or other taxes required to be withheld) calculated by adding the amounts specified in [subparagraphs (a) through (f)] below, such payments to be made within 10 days following the later of the date of Separation from Service or the date of the Change of Control, except to the extent not yet calculable, in which case such portions shall be paid as soon as practicable following the ability to calculate the amount. Notwithstanding the foregoing, except as provided in Paragraph 5, all amounts payable under the terms of the Plan shall be payable no later than March 15 of the year following the later of the date of Separation from Service or the date of the Change of Control. Notwithstanding anything in this Paragraph 1 to the contrary, any amounts which are payable due to amounts the Executive would have been entitled under a deferred compensation plan required to meet the requirements of Section 409A of the Code and the regulations promulgated thereunder, such amounts shall be payable at the date it would have been payable if the Executive were entitled to this amount under the terms of the deferred compensation plan.
In the event of a Funding Change in Control, notwithstanding anything to the contrary in the Plan, upon a Director’s Separation from Service, that amount in the Deferred Compensation Plan Account(s) of a Participant who was a Director determined as of the date of such Funding Change in Control shall be paid out in a lump sum provided that such Separation from Service occurred within two calendar years following the Funding Change in Control and that such Funding Change in Control constitutes a change in control event for purposes of Code [Section 409A]. The lump sum payment shall be made within ninety (90) days of such Separation from Service as permitted by Code Section 409A.
Lump Sum. If the subaccount established within a Participant’s Deferral Account for Fees is payable in a single distribution, distribution shall be made on the Distribution Date applicable to such subaccount.
Lump Sum. If a Participant’s Post-2022 Account is distributable in a single distribution, distribution shall be made on the Distribution Date applicable to such subaccount.
Lump Sum. A single lump sum payment.
Immediate Lump Sum Payment. Upon a Participant’s Retirement or Disability, the vested balance in his or her Accounts shall be paid to the Participant in a lump sum on the fifteenth (15th) day of the month following the end of the month in which such event occurs, in an amount equal to the balance credited to such Accounts as of the last day of the month in which such event occurs, except as otherwise provided in the following provisions of this [Section 5.1(a)], and/or in [Article VIII] in the case of payments to Specified Employees.
Lump Sum Benefits Payment. The Company shall pay to you in a lump sum, on the payroll date on or after the first anniversary of your Termination Date, a cash amount equal to , less any deductions required by law or authorized by you ( of this gross amount is in addition to Plan benefits, and is provided under the circumstances of your separation of employment in connection with the Merger).
Lump Sum Severance Payment. Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the release of claims required by [Section 4(e)] becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.
Form of Payment – A participant or beneficiary may elect to receive distribution of his account(s) as a lump sum benefit payment. The participant or beneficiary shall file a written request for benefits with the plan administrator before payment will be made. The lump sum benefit payment shall be made in cash from the fund. If the vested accrued benefit is no more than , benefits shall automatically be paid in a lump sum in accordance with [Section 4.3(d)(5)].
Cash Payment. The Company shall pay to the Participant, in a lump sum in cash, the aggregate of the amounts in [(a) and (b)])] below:
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.