Common use of Form and Timing of Severance Benefits Clause in Contracts

Form and Timing of Severance Benefits. The Severance Benefits described in Section 3.4(a) and (b) herein, shall be paid by ML&P in cash to the Executive in a single lump sum as soon as practicable following the Executive's Effective Date of Termination, but in no event beyond ninety (90) calendar days from such date. The Severance Benefits described in Section 3.4 (c) herein shall be provided by ML&P to the Executive immediately upon the Executive's Effective Date of Termination and shall continue to be provided for three (3) full calendar years from the Executive's Effective Date of Termination or until the Executive reaches his Normal Retirement date, whichever occurs earlier. However, the Severance Benefits described in Section 3.4 (c) herein shall be discontinued prior to the end of the three (3) year period immediately upon the Executive receiving substantially similar benefits from a subsequent employer, as determined by the Committee.

Form and Timing of Severance Benefits. The Severance Benefits described in Section 3.4(a) Sections 3.4.a, 3.4.b and (b) herein, 3.8 herein shall be paid by ML&P in cash to the Executive in a single lump sum as soon as practicable following the Executive's Effective Date of Termination, but in no event beyond ninety (90) calendar days from such date. The Severance Benefits described in Section 3.4 (c) 3.4.c herein shall be provided by ML&P to the Executive immediately upon the Executive's Effective Date of Termination and shall continue to be provided for three (3) full calendar years from the Executive's Effective Date of Termination or until the Executive reaches his Normal Retirement date, whichever occurs earlier. However, the Severance Benefits described in Section 3.4 (c) 3.4.c herein shall be discontinued prior to the end of the three (3) year period immediately upon the Executive receiving substantially similar benefits from a subsequent employer, as determined by the Committee.

Form and Timing of Severance Benefits. 5.1 Form and Timing of Severance Benefits. The Severance Benefits described in Section 3.4(a) Sections 3.4.a, 3.4.b and (b) herein, 3.8 herein shall be paid by ML&P in cash to the Executive in a single lump sum as soon as practicable following the Executive's Effective Date of Termination, but in no event beyond ninety (90) calendar days from such date. The Severance Benefits described in Section 3.4 (c) 3.4.c herein shall be provided by ML&P to the Executive immediately upon the Executive's Effective Date of Termination and shall continue to be provided for three two (32) full calendar years from the Executive's Effective Date of Termination or until the Executive reaches his Normal Retirement date, whichever occurs earlier. However, the Severance Benefits described in Section 3.4 (c) 3.4.c herein shall be discontinued prior to the end of the three two (32) year period immediately upon the Executive receiving substantially similar benefits from a subsequent employer, as determined by the Committee.

Form and Timing of Severance Benefits. The Severance Benefits described in Section Sections 3.4(a), (b), (c) and (bd) herein, shall be paid by ML&P in cash to the Executive in a single lump sum as soon as practicable following the Executive's ’s Effective Date of Termination, but in no event beyond ninety (90) calendar days from such date. The Severance Benefits described in Section 3.4 (c3.4(e) herein shall be provided by ML&P BOHC to the Executive immediately upon the Executive's ’s Effective Date of Termination and shall continue to be provided for three two (32) full calendar years from the Executive's ’s Effective Date of Termination or until the Executive reaches his Normal Retirement date, whichever occurs earlier. However, the Severance Benefits described in Section 3.4 (c3.4(e) herein shall be discontinued prior to the end of the three two (32) year period immediately upon the Executive receiving substantially similar benefits from a subsequent employer, as determined by the Committee.

Form and Timing of Severance Benefits. 5.1 Form and Timing of Severance Benefits. The Severance Benefits described in Section 3.4(a) Sections 3.4.a, 3.4.b and (b) herein, 3.8 herein shall be paid by ML&P in cash to the Executive in a single lump sum as soon as practicable following the Executive's Effective Date of Termination, but in no event beyond ninety (90) calendar days from such date. The Severance Benefits described in Section 3.4 (c) 3.4.c herein shall be provided by ML&P to the Executive immediately upon the Executive's Effective Date of Termination and shall continue to be provided for three (3) full calendar years from the Executive's Effective Date of Termination or until the Executive reaches his Normal Retirement date, whichever occurs earlier. However, the Severance Benefits described in Section 3.4 (c) 3.4.c herein shall be discontinued prior to the end of the three (3) year period immediately upon the Executive receiving substantially similar benefits from a subsequent employer, as determined by the Committee.