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), the Employer shall pay Accrued Benefit to the Executive. In the event of such a complete termination under subsection (b), the Employer shall pay the present value, calculated using the Discount Rate, of the Change in Control benefit described in Section 2.4. 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 6.38.2, 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 to the ExecutiveBenefit. In the event of such a complete termination under subsection (b)) below, the Employer shall pay the present value, calculated using Executive the Discount Rate, of the Change in Control benefit described in Section 2.4. 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 to the ExecutiveBenefit. In the event of such a complete termination under subsection (b)) below, the Employer shall pay the present value, calculated using Executive the Discount Rate, of the Change in Control benefit described in Section 2.4. Such complete termination of the Agreement shall occur only under the following circumstances and conditions.