Common use of Effect of Lump Sum Payment Clause in Contracts

Effect of Lump Sum Payment. The lump sum payments under subsections (a) and (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in subsections (c) and (d). Benefits under such plans shall be determined as if Executive had received such payments monthly over the Severance Period. The lump sum payments under subsections (a), (b), (c) and (d) above are separate payments and are intended to satisfy the “short-term deferral exception” of Section 409A of the Code; provided that, if such exception does not apply, the provisions of Section 3.5, including the provisions relating to the delay in payments to “key employees”, shall apply.

Effect of Lump Sum Payment. The lump sum payments under subsections (a) and (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in subsections subsection (c) and (d). Benefits under such plans shall be determined as if Executive had received such payments monthly over the Severance Period. The lump sum payments under subsections (a), (b), and (c) and (d) above are separate payments and are intended to satisfy the “short-term deferral exception” of Section 409A of the Code; provided that, if such exception does not apply, the provisions of Section 3.5, including the provisions relating to the delay in payments to “key employees”, shall apply.

Effect of Lump Sum Payment. The lump sum payments payment under subsections (a) and or (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in subsections (c) and (d)this section. Benefits under such plans shall be determined as if Executive had remained employed and received such payments monthly over the Severance Period. The lump sum payments under subsections (a), (b), ) (c) and (d) above are separate payments and are intended to satisfy the “short-term deferral exception” of Section 409A of the Code; provided that, if such exception does not apply, the provisions of Section 3.54.4, including the provisions relating to the delay in payments to “key employees”, shall apply.

Effect of Lump Sum Payment. The lump sum payments under subsections (a) and (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in subsections subsection (c) and (d). Benefits under such plans shall be determined as if Executive had received such payments monthly over the Severance Period. The lump sum payments under subsections (a), (b), and (c) and (d) above are separate payments and are intended to satisfy the “short-term deferral exception” of Section 409A of the Code; provided that, if such exception does not apply, the provisions of Section 3.53.4, including the provisions relating to the delay in payments to “key employees”, shall apply.

Effect of Lump Sum Payment. The lump sum payments under subsections (a) and (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in subsections (c) and (d). Benefits under such plans shall be determined as if Executive had received such payments monthly over the Severance Period. The lump sum payments under subsections (a), (b), (c) and (d) above are separate payments and are intended to satisfy the “short-term deferral exception” of Section 409A of the Code; provided that, if such exception does not apply, the provisions of Section 3.53.4, including the provisions relating to the delay in payments to “key employees”, shall apply.