Payment of Severance Allowance. The Severance Allowance shall be paid to the Manager in a lump sum on the Payment Date if the applicable Change in Control is also a change in control event as defined in Treas. Reg. §1.409A-3(i)(5) (or any successor thereto). In any other case, the Severance Allowance shall be paid in eighteen monthly installments commencing on the Payment Date, each of which is equal to one eighteenth (1/18th) of the amount of the Severance Allowance determined under Section 4(a), which are treated as a right to a series of separate payments for purposes of Section 409A of the Code.
Payment of Severance Allowance. The Severance Allowance shall be paid to the Manager (i) in a lump sum within sixty (60) days after the date of any termination of the Manager covered by Section 3(a), or (ii) in the case of a termination described in Section 3(b), in a lump sum within sixty (60) days after the date of the Change in Control giving rise to such Covered Termination.
Payment of Severance Allowance. The Severance Allowance shall be paid to the Manager in a lump sum on the Payment Date. If a court awards the Manager a severance pay and/or any compensation in relation to the termination of the Manager’s employment, the Manager may no longer assert any rights under this Agreement. If and insofar the Company or any of its affiliates has already made any payments under this Agreement, the Company or any of its affiliates may set off the payments that have been made against any net salary payment to which the Manager is entitled, or recover such from the Manager in any other way.
Payment of Severance Allowance. The Severance Allowance shall be paid to the Manager in a lump sum on the Payment Date.
Payment of Severance Allowance. Payment of any severance allowance for which an employee may be eligible will be made in a lump sum at the time of termination.
Payment of Severance Allowance. The Severance Allowance shall be paid to the Manager in a lump sum on the Payment Date if the applicable Change in Control is also a change in control event as defined in Treas. Reg. §1.409A-3(i)(5) (or any successor thereto). In any other case, the Severance Allowance shall be paid (i) if the Covered Termination occurs before January 1, 2009, in twelve monthly installments commencing on the Payment Date, each of which is equal to one-twelfth (1/12th) of the amount of the Severance Allowance determined under Section 4(a), or (ii) if the Covered Termination occurs after December 31, 2008, in eighteen monthly installments commencing on the Payment Date, each of which is equal to one eighteenth (1/18th) of the amount of the Severance Allowance determined under Section 4(a), which are treated as a right to a series of separate payments for purposes of Section 409A of the Code.
