Common use of Severance Plan Clause in Contracts

Severance Plan. Executive recognizes and agrees that pursuant to the Nucor Corporation Severance Plan for Senior Officers and General Managers (the “Severance Plan”), Executive shall receive certain Severance Benefits (as defined in the Severance Plan) contingent upon his execution of this Agreement and strict compliance with the covenants contained herein. Based on Executive’s (a) September 16, 1985 date of hire, (b) effective retirement date of December 31, 2009 and (c) current annual base salary of Four Hundred Thirty-Four Thousand Nine Hundred Dollars ($434,900), Executive would be eligible to receive Severance Benefits under the Severance Plan totaling Eight Hundred Eighty Thousand Nine Hundred Twenty Dollars and Seventy-Three Cents ($880,920.73) payable in twenty-four (24) monthly installments of Thirty-Six Thousand Seven Hundred and Five Dollars and Three Cents ($36,705.03) (the “Monthly Severance Plan Payments”). Subject to the provisions of Paragraph 3(c) of this Agreement, the payments of the Monthly Severance Plan Payments shall be made each month following the Effective Date. In the event Executive dies during the Severance Period and provided that Executive was not in breach of his obligations under this Agreement at the time of his death, the remaining Monthly Severance Plan Payments that would have been paid to Executive pursuant to the Severance Plan shall be paid to Executive’s estate in a single sum payment as soon as practicable (but in any event within ninety (90) days) following Executive’s death. All Monthly Severance Plan Payments shall be subject to regular and customary withholding.

Severance Plan. Executive recognizes and agrees that pursuant to the Nucor Corporation Severance Plan for Senior Officers and General Managers (the “Severance Plan”), Executive shall receive certain Severance Benefits (as defined in the Severance Plan) contingent upon his execution of this Agreement and strict compliance with the covenants contained herein. Based on Executive’s (a) September 161, 1985 1975 date of hire, (b) effective retirement date of December August 31, 2009 2010 and (c) current annual base salary of Four Three Hundred Thirty-Four Ninety Five Thousand Nine Three Hundred Dollars ($434,900395,300), Executive would be eligible to receive Severance Benefits under the Severance Plan totaling Eight One Million One Hundred Eighty Fifty Two Thousand Nine Hundred Twenty Fifty Eight Dollars and Seventy-Thirty Three Cents ($880,920.731,152,958.33) payable in twenty-four (24) monthly installments of Thirty-Six Forty Eight Thousand Seven Hundred and Five Thirty Nine Dollars and Ninety Three Cents ($36,705.0348,039.93) (the “Monthly Severance Plan Payments”). Subject to the provisions of Paragraph 3(c) of this Agreement, the payments of the Monthly Severance Plan Payments shall be made each month following the Effective Date. In the event Executive dies during the Severance Period and provided that Executive was not in breach of his obligations under this Agreement at the time of his death, the remaining Monthly Severance Plan Payments that would have been paid to Executive pursuant to the Severance Plan shall be paid to Executive’s estate in a single sum payment as soon as practicable (but in any event within ninety (90) days) following Executive’s death. All Monthly Severance Plan Payments shall be subject to regular and customary withholding.

Severance Plan. Executive recognizes and agrees that pursuant to the Nucor Corporation Severance Plan for Senior Officers and General Managers (the “Severance Plan”), Executive shall receive certain Severance Benefits (as defined in the Severance Plan) contingent upon his execution of this Agreement and strict compliance with the covenants contained herein. Based on Executive’s (a) September 16January 1, 1985 1989 date of hire, (b) effective retirement date of December 31February 28, 2009 2010 and (c) current annual base salary of Four Three Hundred Thirty-Four Ninety Five Thousand Nine Three Hundred Dollars ($434,900395,300), Executive would be eligible to receive Severance Benefits under the Severance Plan totaling Eight Six Hundred Eighty Ninety Seven Thousand Nine Four Hundred Twenty Sixty Dollars and Seventy-Three Eighty Two Cents ($880,920.73697,460.82) payable in twenty-four (24) monthly installments of Thirty-Six Twenty Nine Thousand Seven Hundred and Five Sixty Dollars and Three Eighty Seven Cents ($36,705.0329,060.87) (the “Monthly Severance Plan Payments”). Subject to the provisions of Paragraph 3(c) of this Agreement, the payments of the Monthly Severance Plan Payments shall be made each month following the Effective Date. In the event Executive dies during the Severance Period and provided that Executive was not in breach of his obligations under this Agreement at the time of his death, the remaining Monthly Severance Plan Payments that would have been paid to Executive pursuant to the Severance Plan shall be paid to Executive’s estate in a single sum payment as soon as practicable (but in any event within ninety (90) days) following Executive’s death. All Monthly Severance Plan Payments shall be subject to regular and customary withholding.

Severance Plan. Executive recognizes and agrees that pursuant to the Nucor Corporation Severance Plan for Senior Officers and General Managers (the “Severance Plan”), Executive shall receive certain Severance Benefits (as defined in the Severance Plan) contingent upon his execution of this Agreement and strict compliance with the covenants contained hereinRestrictive Covenants (as hereinafter defined). Based on Executive’s (ai) September 16November 15, 1985 1982 date of hire, (bii) effective retirement date of December 31, 2009 2013 and (ciii) current annual base salary of Four Hundred Thirty-Four Thousand Nine Hundred Dollars ($434,900)925,000, Executive would be eligible to receive Severance Benefits under the Severance Plan totaling Eight Two Million Three Hundred Eighty Ninety Nine Thousand Nine Three Hundred Twenty Forty Four Dollars and Seventy-Three Six Cents ($880,920.732,399,344.06) payable in twenty-four (24) monthly installments of Thirty-Six Ninety Nine Thousand Seven Nine Hundred and Five Seventy Two Dollars and Three Sixty Seven Cents ($36,705.0399,972.67) (the “Monthly Severance Plan Payments”). Subject to the provisions of Paragraph 3(c2(c) of this Agreement, the payments of the Monthly Severance Plan Payments shall be made each month following the Effective Date. In the event Executive dies during the Severance Period first twenty-four (24) months following the Effective Date, and provided that Executive was not in breach of his obligations under this Agreement or the Restrictive Covenants at the time of his death, the remaining Monthly Severance Plan Payments that would have been paid to Executive pursuant to the Severance Plan shall be paid to Executive’s estate in a single sum payment as soon as practicable (but in any event within ninety (90) days) following Executive’s death. All Monthly Severance Plan Payments shall be subject to regular and customary withholding.

Severance Plan. Executive recognizes and agrees that pursuant to the Nucor Corporation Severance Plan for Senior Officers and General Managers (the “Severance Plan”), Executive shall receive certain Severance Benefits (as defined in the Severance Plan) contingent upon his execution of this Agreement and strict compliance with the covenants contained herein. Based on Executive’s (ai) September 16December 1, 1985 1975 date of hire, (bii) effective retirement date of December 31June 3, 2009 2013 and (ciii) current annual base salary of Four Hundred Thirty-Four Forty Eight Thousand Nine Three Hundred and Fifty Dollars ($434,900448,350.00), Executive would be eligible to receive Severance Benefits under the Severance Plan totaling Eight One Million Four Hundred Eighty One Thousand Nine Three Hundred Twenty and Eleven Dollars and Seventy-Three Twelve Cents ($880,920.731,401,311.12) payable in twenty-four (24) monthly installments of Thirty-Six Fifty Eight Thousand Seven Three Hundred and Five Eighty Seven Dollars and Three Ninety Six Cents ($36,705.0358,387.96) (the “Monthly Severance Plan Payments”). Subject to the provisions of Paragraph 3(c) of this Agreement, the payments of the Monthly Severance Plan Payments shall be made each month following the Effective Date. In the event Executive dies during the Severance Period and provided that Executive was not in breach of his obligations under this Agreement at the time of his death, the remaining Monthly Severance Plan Payments that would have been paid to Executive pursuant to the Severance Plan shall be paid to Executive’s estate in a single sum payment as soon as practicable (but in any event within ninety (90) days) following Executive’s death. All Monthly Severance Plan Payments shall be subject to regular and customary withholding.