Common use of Distribution on Payment Date Clause in Contracts

Distribution on Payment Date. If a Change in Control occurs before the Payment Date and the Employee is in the active employ of the Company on the Payment Date, upon receipt by the Trust of the final scheduled Company Contribution on May 1, 2010, the Trustee shall make a distribution to the Employee of an amount equal to all amounts allocated to the Employee’s Account as of the Payment Date.

Appears in 7 contracts

Samples: Executive Bonus Agreement, Executive Bonus Agreement (DT Credit Company, LLC), Executive Bonus Agreement (DT Credit Company, LLC)

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Distribution on Payment Date. If a Change in Control occurs before the Payment Date and the Employee is in the active employ of the Company on the Payment Date, upon receipt by the Trust of the final scheduled Company Contribution on May 1], 2010, the Trustee shall make a distribution to the Employee of an amount equal to all amounts allocated to the Employee’s Account as of the Payment Date.

Appears in 3 contracts

Samples: Executive Bonus Agreement (DT Credit Company, LLC), Executive Bonus Agreement (DT Acceptance Corp), Executive Bonus Agreement (DriveTime Automotive, Inc.)

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