Common use of Other Benefits and Payments Clause in Contracts

Other Benefits and Payments. (a) (1) If the Executive becomes entitled to payment under Paragraph 4(a), then the Executive shall be entitled to receive a lump sum payment from Primex at the same time as the payment under Paragraph 4(a) is made equal to the amount contributed or credited by Primex to the Executive's accounts in all defined contribution plans of Primex (whether or not "qualified" plans) during the 12 months preceding the Executive's Termination provided that in the event there are fewer than 12 months in such period the payment required shall be increased proportionately to make it equivalent to a 12 month period. The "amount contributed or credited by Primex" as defined in this Paragraph 5 shall not include any employee contributions, employer matching contributions, dividends or investment gains or losses credited to the Executive's accounts, but only the Primex contributions made or, in the case of supplementary plans, credited, to the accounts. Such payment shall be in lieu of any such contributions or credits by Primex to its defined contribution plans with respect to the period after the Executive's Termination. If Primex is required by law to contribute to such plans with respect to the period after the Executive's Termination, any such contribution shall reduce the payout otherwise due Executive under this Paragraph 5(a)(1). In the event the Executive receives a payment under Paragraph 4(b), the amount required to be paid under the preceding sentences of this Paragraph 5(a)(1) shall be tripled. Notwithstanding the foregoing, in the event at the date of Termination the Executive is more than 69 years old (or more than 68 years old in the case the Executive receives a payment under Paragraph 4(b)) the lump sum payment required to be made under this Paragraph 5(a)(1) shall be reduced such that if it were expressed as equal monthly payments made over a 12-month period (a 24-month period in the case of the Executive receiving a payment under Paragraph 4(b)) and paid in monthly installments on the first of every month following Termination no such monthly payments would be received by the Executive beyond his or her seventieth birthday.

Other Benefits and Payments. (a) (1) If the Executive becomes entitled to payment under Paragraph 4(a3(a), then the Executive shall be entitled to receive a lump sum payment from Primex at the same time as the payment under Paragraph 4(a3(a) is made equal to the amount contributed or credited by Primex to the Executive's accounts in all defined contribution plans of Primex (whether or not "qualified" plans) during the 12 months preceding the Executive's Termination provided that in the event there are fewer than 12 months in such period the payment required shall be increased proportionately to make it equivalent to a 12 month period. The "amount contributed or credited by Primex" as defined in this Paragraph 5 4 shall not include any employee contributions, employer matching contributions, dividends or investment gains or losses credited to the Executive's accounts, but only the Primex contributions made or, in the case of supplementary plans, credited, to the accounts. Such payment shall be in lieu of any such contributions or credits by Primex to its defined contribution plans with respect to the period after the Executive's Termination. If Primex is required by law to contribute to such plans with respect to the period after the Executive's Termination, any such contribution shall reduce the payout otherwise due Executive under this Paragraph 5(a)(14(a)(1). In the event the Executive receives a payment under Paragraph 4(b3(b), the amount required to be paid under the preceding sentences of this Paragraph 5(a)(14(a)(1) shall be tripleddoubled. Notwithstanding the foregoing, in the event at the date of Termination the Executive is more than 69 years old (or more than 68 years old in the case the Executive receives a payment under Paragraph 4(b3(b)) the lump sum payment required to be made under this Paragraph 5(a)(14(a)(1) shall be reduced such that if it were expressed as equal monthly payments made over a 12-month period (a 24-month period in the case of the Executive receiving a payment under Paragraph 4(b3(b)) and paid in monthly installments on the first of every month following Termination no such monthly payments would be received by the Executive beyond his or her seventieth birthday.

Other Benefits and Payments. (a) (1) If the Executive becomes entitled to payment under Paragraph 4(a), then the Executive shall be entitled to receive a lump sum payment from Primex at the same time as the payment under Paragraph 4(a) is made equal to the amount contributed or credited by Primex to the Executive's accounts in all defined contribution plans of Primex (whether or not "qualified" plans) during the 12 months preceding the Executive's Termination provided that in the event there are fewer than 12 months in such period the payment required shall be increased proportionately to make it equivalent to a 12 month period. The "amount contributed or credited by Primex" as defined in this Paragraph 5 shall not include any employee contributions, employer matching contributions, dividends or investment gains or losses credited to the Executive's accounts, but only the Primex contributions made or, in the case of supplementary plans, credited, to the accounts. Such payment shall be in lieu of any such contributions or credits by Primex to its defined contribution plans with respect to the period after the Executive's Termination. If Primex is required by law to contribute to such plans with respect to the period after the Executive's Termination, any such contribution shall reduce the payout otherwise due Executive under this Paragraph 5(a)(1). In the event the Executive receives a payment under Paragraph 4(b), the amount required to be paid under the preceding sentences of this Paragraph 5(a)(1) shall be tripled. Notwithstanding the foregoing, in the event at the date of Termination the Executive is more than 69 years old (or more than 68 years old in the case the Executive receives a payment under Paragraph 4(b)) the lump sum payment required to be made under this Paragraph 5(a)(1) shall be reduced such that if it were expressed as equal monthly payments made over a 12-12- month period (a 24-month period in the case of the Executive receiving a payment under Paragraph 4(b)) and paid in monthly installments on the first of every month following Termination no such monthly payments would be received by the Executive beyond his or her seventieth birthday.

Other Benefits and Payments. (a) (1) If the Executive becomes entitled to payment under Paragraph 4(a3(a), then the Executive shall be entitled to receive a lump sum payment from Primex at the same time as the payment under Paragraph 4(a3(a) is made equal to the amount contributed or credited by Primex to the Executive's accounts in all defined contribution plans of Primex (whether or not "qualified" plans) during the 12 months preceding the Executive's Termination provided that in the event there are fewer than 12 months in such period the payment required shall be increased proportionately to make it equivalent to a 12 month period. The "amount contributed or credited by Primex" as defined in this Paragraph 5 4 shall not include any employee contributions, employer matching contributions, dividends or investment gains or losses credited to the Executive's accounts, but only the Primex contributions made or, in the case of supplementary plans, credited, to the accounts. Such payment shall be in lieu of any such contributions or credits by Primex to its defined contribution plans with respect to the period after the Executive's Termination. If Primex is required by law to contribute to such plans with respect to the period after the Executive's Termination, any such contribution shall reduce the payout otherwise due Executive under this Paragraph 5(a)(14(a)(1). In the event the Executive receives a payment under Paragraph 4(b3(b), the amount required to be paid under the preceding sentences of this Paragraph 5(a)(14(a)(1) shall be tripled. Notwithstanding the foregoing, in the event at the date of Termination the Executive is more than 69 years old (or more than 68 67 years old in the case the Executive receives a payment under Paragraph 4(b3(b)) the lump sum payment required to be made under this Paragraph 5(a)(14(a)(1) shall be reduced such that if it were expressed as equal monthly payments made over a 12-month period (a 2436-month period in the case of the Executive receiving a payment under Paragraph 4(b3(b)) and paid in monthly installments on the first of every month following Termination no such monthly payments would be received by the Executive beyond his or her seventieth birthday.

Other Benefits and Payments. (a) (1) If the Executive becomes entitled to payment under Paragraph 4(a3(a), then the Executive shall be entitled to receive a lump sum payment from Primex at the same time as the payment under Paragraph 4(a3(a) is made equal to the amount contributed or credited by Primex to the Executive's accounts in all defined contribution plans of Primex (whether or not "qualified" plans) during the 12 months preceding the Executive's Termination provided that in the event there are fewer than 12 months in such period the payment required shall be increased proportionately to make it equivalent to a 12 month period. The "amount contributed or credited by Primex" as defined in this Paragraph 5 4 shall not include any employee contributions, employer matching contributions, dividends or investment gains or losses credited to the Executive's accounts, but only the Primex contributions made or, in the case of supplementary plans, credited, to the accounts. Such payment shall be in lieu of any such contributions or credits by Primex to its defined contribution plans with respect to the period after the Executive's Termination. If Primex is required by law to contribute to such plans with respect to the period after the Executive's Termination, any such contribution shall reduce the payout otherwise due Executive under this Paragraph 5(a)(14(a)(1). In the event the Executive receives a payment under Paragraph 4(b3(b), the amount required to be paid under the preceding sentences of this Paragraph 5(a)(14(a)(1) shall be tripled. [doubled] [FN/2: Tripled in case of Chairman and CEO and Vice Chairman.] Notwithstanding the foregoing, in the event at the date of Termination the Executive is more than 69 years old (or more than 68 [FN/3: 67 in case of Chairman and CEO and Vice Chairman] years old in the case the Executive receives a payment under Paragraph 4(b3(b)) the lump sum payment required to be made under this Paragraph 5(a)(14(a)(1) shall be reduced such that if it were expressed as equal monthly payments made over a 12-month period (a [24-month] [FN/4: 36-month in case of Chairman and CEO and Vice Chairman] period in the case of the Executive receiving a payment under Paragraph 4(b3(b)) and paid in monthly installments on the first of every month following Termination no such monthly payments would be received by the Executive beyond his or her seventieth birthday.

Other Benefits and Payments. (a) (1) If the Executive becomes entitled to payment under Paragraph 4(a3(a), then the Executive shall be entitled to receive a lump sum payment from Primex at the same time as the payment under Paragraph 4(a3(a) is made equal to the amount contributed or credited by Primex to the Executive's accounts in all defined contribution plans of Primex (whether or not "qualified" plans) during the 12 months preceding the Executive's Termination provided that in the event there are fewer than 12 months in such period the payment required shall be increased proportionately to make it equivalent to a 12 month period. The "amount contributed or credited by Primex" as defined in this Paragraph 5 4 shall not include any employee contributions, employer matching contributions, dividends or investment gains or losses credited to the Executive's accounts, but only the Primex contributions made or, in the case of supplementary plans, credited, to the accounts. Such payment shall be in lieu of any such contributions or credits by Primex to its defined contribution plans with respect to the period after the Executive's Termination. If Primex is required by law to contribute to such plans with respect to the period after the Executive's Termination, any such contribution shall reduce the payout otherwise due Executive under this Paragraph 5(a)(14(a)(1). In the event the Executive receives a payment under Paragraph 4(b3(b), the amount required to be paid under the preceding sentences of this Paragraph 5(a)(14(a)(1) shall be tripled. Notwithstanding the foregoing, in the event at the date of Termination the Executive is more than 69 years old (or more than 68 67 years old in the case the Executive receives a payment under Paragraph 4(b3(b)) the lump sum payment required to be made under this Paragraph 5(a)(14(a)(1) shall be reduced such that if it were expressed as equal monthly payments made over a 12-month period (a 2436-month period in the case of the Executive receiving a payment under Paragraph 4(b3(b)) and paid in monthly installments on the first of every month following Termination no such monthly payments would be received by the Executive beyond his or her seventieth birthday.