Common use of Subsequent Distribution Prior to Payment Date Clause in Contracts

Subsequent Distribution Prior to Payment Date. If the Employee’s employment is terminated without Cause, or he terminates his employment for Good Reason, within 90 days prior to or at any time following a Change in Control but before the Payment Date, the Employee shall be entitled to a payment (A) from the Company equal to $2,000,000 (total of all scheduled Company Contributions) less all Company Contributions previously paid to the Employees’ Account pursuant to section 3 above, plus (B) from the Trustee equal to all amounts allocated to the Employee’s Account as of the date of his termination of employment. If the Employee terminates his employment with the Company on account of Disability, for purposes of this Agreement, such termination will be treated as a termination by the Company without Cause.

Subsequent Distribution Prior to Payment Date. If the Employee’s employment is terminated without Cause, or he terminates his employment for Good Reason, within 90 days prior to or at any time following a Change in Control but before the Payment Date, the Employee shall be entitled to a payment (A) from the Company equal to $2,000,000 10,000,000 (total of all scheduled Company Contributions) less all Company Contributions previously paid to the Employees’ Account pursuant to section 3 above, plus (B) from the Trustee equal to all amounts allocated to the Employee’s Account as of the date of his termination of employment. If the Employee terminates his employment with the Company on account of Disability, for purposes of this Agreement, such termination will be treated as a termination by the Company without Cause.