Common use of Payment Structure Clause in Contracts

Payment Structure. Each payment to be made to the Executive under the provisions of Section 1.1, Section 1.2 and Section 1.3 shall be considered a separate payment and not one of a series of payments for purposes of Section 409A. Further, the coverages provided during one taxable year shall not affect the degree to which coverages will be provided in any other taxable year.

Payment Structure. Each payment to be made to the Executive under the provisions of Section 1.1, Section 1.2 and Section 1.3 1.1 shall be considered a separate payment and not one of a series of payments for purposes of Section 409A. Further, the coverages provided during one taxable year shall not affect the degree to which coverages will be provided in any other taxable year.