Common use of Security Obligation Clause in Contracts

Security Obligation. The Company shall establish and fund, not later than 30 days prior to the consummation of a Change in Control, a grantor trust in an amount sufficient to satisfy the Company's obligations under Sections 4(d), (e) and (f). If the Company fails to fund such trust within such thirty day period, the entire amount of the Company's severance obligations to the Employee will accelerate and become immediately due and payable.

Security Obligation. The Company shall establish and fund, not later than 30 days prior to the consummation of a Change in Control, a grantor trust in an amount sufficient to satisfy the Company's obligations under Sections Section 4(d), (e) and (f). If the Company fails to fund such trust within such thirty day period, the entire amount of the Company's severance obligations to the Employee will accelerate and become immediately due and payable.

Security Obligation. The Company shall establish and fund, not later than 30 days prior to the consummation of a Change in Control, a grantor trust in an amount sufficient to satisfy the Company's obligations under Sections 4(d), (e) and (fe). If the Company fails to fund such trust within such thirty day period, the entire amount of the Company's severance obligations to the Employee will accelerate and become immediately due and payable.