Common use of Long Term Incentive Payment Clause in Contracts

Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts in respect of the LTPP Units. In lieu of such payment, subject to Section 4 hereof, the Executive shall receive a cash payment of $200,000.00 (less applicable tax withholdings) upon the Effective Time. In the event that, pursuant to the proviso in the second sentence of this paragraph 2, MONY elects, in its sole discretion, to make any payment in respect of the LTPP Units prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.

Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 1,500 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts in respect of the LTPP Units. In lieu of such payment, subject to Section 4 hereof, the Executive shall receive a cash payment of $200,000.00 150,000.00 (less applicable tax withholdings) upon the Effective Time. In the event that, pursuant to the proviso in the second sentence of this paragraph 2, MONY elects, in its sole discretion, to make any payment in respect of the LTPP Units prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.

Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 5,000 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts in respect of the LTPP Units. In lieu of such payment, subject to Section 4 5 hereof, the Executive shall receive a cash payment of $200,000.00 500,000.00 (less applicable tax withholdings) upon the Effective Time. In the event that, pursuant to the proviso in the second sentence of this paragraph 2, MONY elects, in its sole discretion, to make any payment in respect of the LTPP Units prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.

Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 1,100 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts in respect of the LTPP Units. In lieu of such payment, subject to Section 4 hereof, the Executive shall receive a cash payment of $200,000.00 110,000.00 (less applicable tax withholdings) upon the Effective Time. In the event that, pursuant to the proviso in the second sentence of this paragraph 2, MONY elects, in its sole discretion, to make any payment in respect of the LTPP Units prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.

Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 5,000 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts in respect of the LTPP Units. In lieu of such payment, subject to Section 4 hereof, the Executive shall receive a cash payment of $200,000.00 500,000.00 (less applicable tax withholdings) upon the Effective Time. In the event that, pursuant to the proviso in the second sentence of this paragraph 2, MONY elects, in its sole discretion, to make any payment in respect of the LTPP Units prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.

Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 15,000 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts in respect of the LTPP Units. In lieu of such payment, subject to Section 4 5 hereof, the Executive shall receive a cash payment of $200,000.00 1,500,000.00 (less applicable tax withholdings) upon the Effective Time. In the event that, pursuant to the proviso in the second sentence of this paragraph 2, MONY elects, in its sole discretion, to make any payment in respect of the LTPP Units prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.

Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 17,000 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts in respect of the LTPP Units. In lieu of such payment, subject to Section 4 5 hereof, the Executive shall receive a cash payment of $200,000.00 1,700,000.00 (less applicable tax withholdings) upon the Effective Time. In the event that, pursuant to the proviso in the second sentence of this paragraph 2, MONY elects, in its sole discretion, to make any payment in respect of the LTPP Units prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.