Initial Distribution. Upon a Change in Control, the Trustee shall make a distribution to the Employee equal to all amounts allocated to the Employee’s Account as of the date of the Change in Control. If the Change in Control occurs before May 1, 2006, the Company shall make an initial distribution direct to the Employee in an amount equal to $400,000 in lieu of the first scheduled Company Contribution payment on May 1, 2006.
Appears in 7 contracts
Samples: Executive Bonus Agreement, Executive Bonus Agreement (DT Credit Company, LLC), Executive Bonus Agreement (DT Credit Company, LLC)
Initial Distribution. Upon a Change in Control, the Trustee shall make a distribution to the Employee equal to all amounts allocated to the Employee’s Account as of the date of the Change in Control. If the Change in Control occurs before May 1, 2006, the Company shall make an initial distribution direct to the Employee in an amount equal to $400,000 2,000,000 in lieu of the first scheduled Company Contribution payment on May 1, 2006.
Appears in 3 contracts
Samples: Executive Bonus Agreement (DT Credit Company, LLC), Executive Bonus Agreement (DT Acceptance Corp), Executive Bonus Agreement (DriveTime Automotive, Inc.)
