Common use of Limit On Payments; Company Obligation Clause in Contracts

Limit On Payments; Company Obligation. In no event shall a payment from the Trust to or with respect to an Executive exceed the amount allocated to the Executive's account at the time of the payment. The Trustee shall notify the Company if the assets allocated to an Executive's account are insufficient to make a required payment from the Trust. The Company shall be solely responsible for, and shall make as due, all required payments to or with respect to an Executive under the SERP and/or Severance Agreement that are not made from the Trust.