Common use of Payment to Executive Clause in Contracts

Payment to Executive. In consideration of the negative covenants provided for the benefit of the Corporation hereunder, the Corporation will pay the Executive a single lump sum cash amount equal to $5,150,000 as soon as practicable after the date hereof, but in no event later than December 31, 1997. Any amount payable hereunder shall be subject to any and all applicable Federal income and employment tax withholding required at law to be withheld therefrom.

Payment to Executive. In consideration of the negative covenants provided for the benefit of the Corporation hereunder, the Corporation will pay the Executive a single lump sum cash amount equal to $5,150,000 17,380,000 as soon as practicable after the date hereof, but in no event later than December 31, 1997. Any amount payable hereunder shall be subject to any and all applicable Federal income and employment tax withholding required at law to be withheld therefrom.

Payment to Executive. In consideration of the negative covenants provided for the benefit of the Corporation hereunder, the Corporation will pay the Executive a single lump sum cash amount equal to $5,150,000 _______________ as soon as practicable after the date hereof, but in no event later than December 31, 1997. Any amount payable hereunder shall be subject to any and all applicable Federal income and employment tax withholding required at law to be withheld therefrom.