Common use of Mechanics of Payment Clause in Contracts

Mechanics of Payment. Any cash portion of the Change of Control Payment payable under this Agreement is payable in a lump sum in cash, of which one-half is payable within thirty (30) days following the Payment Triggering Event and the balance is payable upon the earlier of six (6) months following the Payment Triggering Event or the death of the Employee. Any continuation of benefits portion of the Change of Control Payment commences upon the Payment Triggering Event and extends for the time period defined under the Change of Control Payment.

Mechanics of Payment. Any cash portion of the Change of Control Payment payable under this Agreement is payable in a lump sum in cash, of which one-half is payable within thirty (30) days following the Payment Triggering Event and the balance is payable upon the earlier of six nine (69) months following the Payment Triggering Event or the death of the Employee. Any continuation of benefits portion of the Change of Control Payment commences upon the Payment Triggering Event and extends for the time period defined under the Change of Control Payment.

Mechanics of Payment. Any cash portion of the Change of Control Payment payable under this Agreement is payable in a lump sum in cash, of which one-half is payable within thirty (30) days following the Payment Triggering Event and the balance is payable upon the earlier of six twelve (612) months following the Payment Triggering Event or the death of the Employee. Any continuation of benefits portion of the Change of Control Payment commences upon the Payment Triggering Event and extends for the time period defined under the Change of Control Payment.