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Common use of Acceleration of Payments Clause in Contracts

Acceleration of Payments. The Company may, in the Company’s sole discretion, if Employee so requests within thirty (30) days following a Termination by Reason of Disability, elect to pay to Employee a lump sum severance payment by bank cashier’s check equal to the present value of the flow of cash payments that would otherwise be paid to Employee.

Appears in 3 contracts

Samples: Employment Agreement (Opticon Sytems), Employment Agreement (Opticon Sytems), Employment Agreement (Opticon Systems)

Acceleration of Payments. The Company may, in the Company’s sole discretion, if Employee so requests within thirty (30) days following a Termination by Reason of Disability, elect to pay to Employee a lump sum severance payment by bank cashier’s check equal to the present value of the flow of cash payments that would otherwise be paid to Employee.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Plangraphics Inc), Employment Agreement (Hp Transport, Inc.)