Common use of How Severance Benefits Are Paid Clause in Contracts

How Severance Benefits Are Paid. The Company will pay severance benefits in installments through the Company's regular payroll procedure according to Executive's pay schedule at the time of termination of employment; provided however, the Administrator shall have the discretion to cause the Company to pay all severance benefits in a lump sum payment, or to cause the Company to postpone commencement of benefits until the eighth (8th) day following Executive's execution of the Settlement Agreement and Release. Executive's severance benefits shall be subject to mandatory withholding, including federal, state and local income taxes, as well as FICA and withholding for applicable insurance premiums.

How Severance Benefits Are Paid. The Company will pay severance benefits in installments through the Company's ’s regular payroll procedure according to Executive's ’s pay schedule at the time of termination of employment; provided however, the Administrator shall have the discretion to cause the Company to pay all severance benefits in a lump sum payment, or to cause the Company to postpone commencement of benefits until the eighth (8th) day following Executive's ’s execution of the Settlement Agreement and Release. Executive's ’s severance benefits shall be subject to mandatory withholding, including federal, state and local income taxes, as well as FICA and withholding for applicable insurance premiums.

How Severance Benefits Are Paid. The Company will pay severance benefits in installments through the Company's ’s regular payroll procedure according to Executive's Xxxxxxx’x pay schedule at the time of termination of employmentappointment; provided however, the Administrator shall have the discretion to cause the Company to pay all severance benefits in a lump sum payment, or to cause the Company to postpone commencement of benefits until the eighth (8th) day following Executive's Xxxxxxx’x execution of the Settlement Agreement and Release. Executive's Xxxxxxx’x severance benefits shall may be subject to mandatory withholding, including federal, state and local income taxes, as well as FICA and withholding for applicable insurance premiums.