Effect of Termination on SERP Benefit. Except as otherwise provided in this Amended Participation Agreement, any SERP Benefit shall be payable on all of the same terms and conditions, including timing, set forth in the Plan. If the Executive is terminated without a vested interest in his or her SERP Benefit as determined pursuant to paragraph 4 of this Amended Participation Agreement, the SERP Benefit shall be forfeited and the Executive shall have no rights to any payments hereunder. Notwithstanding any provisions herein to the contrary, in no event shall the SERP Benefit be paid sooner than the date permitted under Section 409A of the Code or Section 8.11 of the Plan related to compliance with Section 409A of the Code.
Appears in 4 contracts
Samples: Participation Agreement (Pride International Inc), Participation Agreement (Pride International Inc), Participation Agreement (Pride International Inc)
Effect of Termination on SERP Benefit. Except as otherwise provided in this Amended Participation Agreement, any SERP Benefit shall be payable on all of the same terms and conditions, including timing, set forth in the Plan. If the Executive is terminated without a vested interest in his or her SERP Benefit as determined pursuant to paragraph 4 of this Amended Participation Agreement, the SERP Benefit shall be forfeited and the Executive shall have no rights to any payments hereunder. Notwithstanding any provisions herein to the contrary, in no event shall the SERP Benefit be paid sooner than the date permitted under Section 409A of the Code or Section 8.11 of the Plan related to compliance with Section 409A of the Code.
Appears in 3 contracts
Samples: Participation Agreement (Pride International Inc), Participation Agreement (Pride International Inc), Participation Agreement (Pride International Inc)