Common use of Omitted Payments Clause in Contracts

Omitted Payments. Provided that there are sufficient assets, if the Trustee discontinues the payment of benefits from the Trust pursuant to this Section 3.2 and subsequently resumes such payments, the first payments following such discontinuance shall include the aggregate amount of all payments due to Executives and Beneficiaries under the terms of the Executive Compensation Plans for the period of such discontinuance, plus interest at the applicable federal rate as published by the IRS for the applicable period, less the aggregate amount of any payments made by the Company in lieu of the payments provided for under this Trust Agreement during the period of discontinuance.

Appears in 4 contracts

Samples: Executive Severance Agreement (SpartanNash Co), Executive Severance Agreement (SpartanNash Co), Executive Severance Agreement (SpartanNash Co)

AutoNDA by SimpleDocs

Omitted Payments. Provided that there are sufficient assets, if the Trustee discontinues the payment of benefits from the Trust pursuant to this Section 3.2 and subsequently resumes such payments, the first payments following such discontinuance shall include the aggregate amount of all payments due to Executives and Beneficiaries under the terms of the Executive Compensation Plans for the period of such discontinuance, plus interest at the applicable federal rate as published by the IRS for the applicable period, less the aggregate amount of any payments made by the Company Spartan Stores in lieu of the payments provided for under this Trust Agreement during the period of discontinuance.

Appears in 3 contracts

Samples: Executive Severance Agreement (SpartanNash Co), Severance Agreement (Spartan Stores Inc), Executive Severance Agreement (Spartan Stores Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!