Benefits to be Provided. Company shall, in consideration of receipt of applicable Premiums, provide the benefits contained in this Agreement through the earlier of the effective date of a Covered Person's termination or the termination of this Agreement.
Benefits to be Provided. If the Executive becomes eligible for benefits under Section 1 above, the Company shall pay or provide to Executive the compensation and benefits set forth in this Section 2; provided, however, that the compensation and benefits to be paid or provided pursuant to paragraphs (a), (b), (c), (d) and (e) of this Section 2 shall be reduced to the extent that the Executive receives or is entitled to receive upon his termination the compensation and benefits (but only to the extent he actually receives such compensation and benefits) described in paragraphs (a), (b), (c), (d) and (e) of this Section 2 pursuant to the terms of an employment agreement with the Company or as a result of a breach by the Company of the employment agreement; and provided, however, that notwithstanding contrary provisions in the employment agreement, to the extent benefits are actually paid or provided under this Agreement, the benefits shall be provided in lump sum payments where specified in paragraphs (a), (b), and (d) below.
Benefits to be Provided. If the Executive becomes eligible for benefits under Section 1 above, the Company shall pay or provide to the Executive the benefits set forth in this Section 2.
(a) SALARY - The Executive will continue to receive his current salary (subject to withholding of all applicable taxes and any amounts referred to in Section 2(c) below) for a period of thirty (30) months from his date of termination in the same manner as it was being paid as of the date of termination; provided, however, that the salary payments provided for hereunder shall be paid in a single lump sum payment, to be paid not later than thirty (30) days after his termination of employment; provided further, that the amount of such lump sum payment shall be determined by taking the salary payments to be made and discounting them to their Present Value. For purposes hereof, the Executive's "current salary" shall be the highest rate in effect during the six-month period prior to the Executive's termination.
Benefits to be Provided. If Executive becomes eligible for benefits under subsection (b) above, the Company shall pay or provide to Executive the compensation and benefits set forth in this subsection (c); provided, however, that the compensation and benefits to be paid or provided pursuant to paragraphs (i) through (v) of this subsection (c) shall be reduced to the extent that Executive receives or is entitled to receive upon Executive's termination the compensation and benefits (but only to the extent Executive actually receives such compensation and benefits) described in paragraphs (i) through (v) of this subsection (c) pursuant to the terms of an employment agreement with the Company or as a result of a breach by the Company of the employment agreement; and, provided, further, after taking into consideration any such reductions, Executive shall continue to be entitled to receive in the aggregate under this Agreement and the employment agreement an amount of compensation and benefits at least equal to 2.99 times Executive's "Base Amount" as defined in Code Section 280G, and any amounts paid under paragraphs (i), (ii) and (iv) of this Agreement shall be paid in the manner provided in such paragraphs.
Benefits to be Provided. If the Executive becomes eligible for benefits under Section 1 above, the Company shall pay or provide to the Executive the compensation and benefits set forth in this Section 2.
Benefits to be Provided. If Executive becomes eligible for benefits under subsection (b) above, the Company shall pay or provide to Executive the compensation and benefits set forth in this subsection (c); provided, however, that the compensation and benefits to be paid or provided pursuant to paragraphs (i), (ii), (iii), (iv) and (v) of this subsection (c) shall be reduced to the extent that Executive receives or is entitled to receive upon Executive's termination the compensation and benefits (but only to the extent Executive actually receives such compensation and benefits)
Benefits to be Provided. If the Executive becomes eligible for benefits under Section 5(c) above, the Association shall pay or provide to Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, the compensation and benefits ("Severance Payments") set forth in this Section 5(d).
Benefits to be Provided. If the Employee becomes eligible for benefits under Section 14.2.1 above, and provided Employee signs and delivers to Employer the Release within the Release Period and allows any Revocation Period to expire without revoking or causing his Release to be revoked, and provided further that Employee has not breached any of the covenants contained in Sections 7 through 9 and Section 15 herein, Employer shall pay or provide to the Employee the benefits set forth in this Section 14.2.2.
Benefits to be Provided. If the Executive becomes eligible for benefits under Section 4.1, the Company shall immediately pay the Executive a lump sum cash payment (less applicable employment and withholding taxes) equal to $167,600 (the "Severance Payment"), which amount is the average of the amount of the Executive's annual salary and annual cash bonuses, payable from the Company, Cotton States Life or any subsidiary or affiliate of the Company or Cotton States Life, for the 2001, 2002 and 2003 calendar years. In the event the Proposed Merger is consummated, Cotton States Life shall be responsible for the Severance Payment to the Executive.
Benefits to be Provided. If the Employee becomes eligible for benefits under Section 14 above, SNB shall pay or provide to the Employee the benefits set forth in this Section 14.2.2.
