Common use of Acceleration of Benefit Payments Clause in Contracts

Acceleration of Benefit Payments. Notwithstanding the provisions set forth in Paragraphs 1 or 3 of this Agreement, the Corporation may elect to accelerate the payment of any amounts listed in such Paragraphs and make payment in a lump sum equal to the net present value of such payments discounted at an interest rate equal to the thirty (30) year U.S. Treasury Xxxx rate at the time of such proposed payment, without the consent of the Executive or the Executive’s estate, in full satisfaction of the Corporation’s obligations under Paragraph 1 or 3 of this Agreement, as the case may be.