Common use of Effect of Complete Termination Clause in Contracts

Effect of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such a complete termination under subsection (a) or (c) below, the Employer shall pay the Executive the Accrued Benefit. In the event of such a complete termination under subsection (b) below, the Employer shall pay the Executive one hundred fifteen percent of the present value, calculated using a four percent discount rate, of the benefit described in Section 2.4 hereof. In any event, such complete termination of the Agreement shall occur only under the following circumstances and conditions.

Effect of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such a complete termination under subsection (a) or (c) below, the Employer shall pay the Executive the Accrued Benefit. In the event of such a complete termination under subsection (b) below, the Employer shall pay the Executive one hundred fifteen percent of the present value, calculated using a four percent discount rate, value of the benefit described in Section 2.4 hereof2.4, calculated using a discount rate of four percent (4.0%). In any event, such complete termination of the Agreement shall occur only under the following circumstances and conditions.

Effect of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such a complete termination under subsection (a) or (c) below, the Employer shall pay the Executive the Accrued Benefit. In the event of such a complete termination under subsection (b) below, the Employer shall pay the Executive one hundred fifteen percent of the present value, calculated using a four percent discount rate, value of the benefit described in Section 2.4 hereof2.4, calculated using an annual discount rate of five and one-half percent (5.5%), compounded monthly. In any event, such Such complete termination of the Agreement shall occur only under the following circumstances and conditions.

Effect of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such a complete termination under subsection in accordance with subsections (a) or (c) below, the Employer shall pay the Executive the Accrued Benefit. In the event of such a complete termination under in accordance with subsection (b) below, the Employer shall pay the Executive one hundred fifteen percent of the present value, calculated determined using a discount rate of four percent discount rate(4.0%), of the benefit described in Section 2.4 hereof. In any either event, such complete termination of the Agreement shall occur only under the following circumstances and conditions.

Effect of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such a complete termination under subsection (a) or (c) below, the Employer shall pay the Executive the Accrued Benefit. In the event of such a complete termination under subsection (b) below, the Employer shall pay the Executive one hundred fifteen percent of the present value, calculated using a four percent (4.0%) discount rate, of the benefit described in Section 2.4 hereof. In any event, such complete termination of the Agreement shall occur only under the following circumstances and conditions.

Effect of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such a complete termination under subsection (a) or (c) below, the Employer shall pay the Executive the Accrued Benefit. In the event of such a complete termination under subsection (b) below, the Employer shall pay the Executive one hundred fifteen percent of the present value, calculated using a four percent discount rate, value of the benefit described in Section 2.4 hereof2.4, calculated using an annual discount rate of four percent (4%), compounded monthly. In any event, such Such complete termination of the Agreement shall occur only under the following circumstances and conditions.

Effect of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such a complete termination under subsection (a) or (c) below, the Employer shall pay the Executive the Accrued Benefit. In the event of such a complete termination under subsection (b) below, the Employer shall pay the Executive one hundred fifteen percent of the present value, calculated using a four percent discount rate, of the benefit described in Section 2.4 hereofhereof for the date the Change in Control occurs. In any event, such complete termination of the Agreement shall occur only under the following circumstances and conditions.

Effect of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code Section 409A and Treasury Regulations -Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such a complete termination under subsection in accordance with subsections (a) or (c) below, the Employer shall pay the Executive the Accrued Benefit. In the event of such a complete termination under in accordance with subsection (b) below, the Employer shall pay the Executive one hundred fifteen percent of the present value, calculated determined using a discount rate of four percent discount rate(4.0%), of the benefit described in Section 2.4 hereof. In any either event, such complete termination of the Agreement shall occur only under the following circumstances and conditions.