Common use of ERISA Limitations Clause in Contracts

ERISA Limitations. (a) No payments made pursuant to the Plan are contingent, either directly or indirectly, upon a Participant’s retirement. (b) In no event shall the amount of a Retention Benefit or similar benefit payable under the Plan exceed two (2) times the applicable Participant’s annual compensation paid during the year immediately preceding his or her Termination Date. (c) Under no circumstances will any Retention Benefits or similar benefits under the Plan be payable to a Participant more that twenty-four (24) months following his or her Termination Date.

ERISA Limitations. (a) No payments made pursuant to the Plan are contingent, either directly or indirectly, upon a Participant’s retirement. (b) In no event shall the amount of a Retention Severance Benefit or similar benefit benefits payable under the Plan exceed two (2) times the applicable Participant’s annual compensation paid during the year immediately preceding his or her Termination Date. (c) Under no circumstances will any Retention Severance Benefits or similar benefits under the Plan be payable to a Participant more that twenty-four (24) months following his or her Termination Date.