Common use of Payments and Withholdings Clause in Contracts

Payments and Withholdings. The amounts provided for in Sections 4.1(a) and 4.1(b) shall be paid in a single lump sum cash payment within ten (10) days after the Termination Date (or earlier, if required by applicable law). The amounts provided for in Sections 4.1(c) and 4.1(d) shall be paid in a single lump sum cash payment within ten (10) days after the Executive gives notice of the applicable election described in such Sections. All payments made pursuant to this Agreement (including Tax Gross-Up Payments) shall be subject to applicable withholdings of income, excise and employment taxes and any other applicable payroll deductions such as the employee contributions to the cost of group health benefits.