Common use of Effect of Lump Sum Payment Clause in Contracts

Effect of Lump Sum Payment. The lump sum payment under (a) or (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in this section. Benefits under such plans shall be determined as if Executive had remained employed and received such payments over the Severance Period. The lump sum payments under subsections (a), (b) (c) and (d) above 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 4.4, including the provisions relating to the delay in payments to “key employees”, shall apply.

Effect of Lump Sum Payment. The lump sum payment payments under subsections (a) or and (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in this sectionsubsection (c). 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) ), and (c) above are separate payments and (d) above 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 4.43.5, including the provisions relating to the delay in payments to “key employees”, shall apply.

Effect of Lump Sum Payment. The lump sum payment payments under subsections (a) or and (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in this sectionsubsection (c). 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) ), and (c) above are separate payments and (d) above 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 4.43.4, including the provisions relating to the delay in payments to “key employees”, shall apply.

Effect of Lump Sum Payment. The lump sum payment payments under subsections (a) or and (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in this sectionsubsections (c) and (d). 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 4.43.4, including the provisions relating to the delay in payments to “key employees”, shall apply.

Effect of Lump Sum Payment. The lump sum payment payments under subsections (a) or and (b) above shall not alter the amounts Executive is entitled to receive under the benefit plans described in this sectionsubsections (c) and (d). 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 4.43.5, including the provisions relating to the delay in payments to “key employees”, shall apply.