Common use of Termination in the Discretion of the Employer Clause in Contracts

Termination in the Discretion of the Employer. Except as otherwise provided in Sections 14.2, Employer in its discretion may terminate the Plan and distribute benefits to Participants subject to the following requirements: 14.1.1 All arrangements sponsored by Employer that would be aggregated with the Plan under Section 1.409A-1(c) of the Treasury Regulations are terminated. 14.1.2 No payments other than payments that would be payable under the terms of the Plan if the termination had not occurred are made within 12 months of the termination date. 14.1.3 All benefits under the Plan are paid within 24 months of the termination date. 14.1.4 Employer does not adopt a new arrangement that would be aggregated with the Plan under Section 1.409A-1(c) of the Treasury Regulations providing for the deferral of compensation at any time within five years following the date of termination of the Plan.

Termination in the Discretion of the Employer. Except as otherwise provided in Sections 14.214.2 or 14.3, the Employer in its discretion may terminate the Plan and distribute benefits to Participants subject to the following requirements: 14.1.1 All arrangements sponsored by the Employer that would be aggregated with the Plan under Section 1.409A-1(c) of the Treasury Regulations are terminated. 14.1.2 No payments other than payments that would be payable under the terms of the Plan if the termination had not occurred are made within 12 months of the termination date. 14.1.3 All benefits under the Plan are paid within 24 months of the termination date. 14.1.4 The Employer does not adopt a new arrangement that would be aggregated with the Plan under Section 1.409A-1(c) of the Treasury Regulations providing for the deferral of compensation at any time within five years following the date of termination of the Plan.

Termination in the Discretion of the Employer. Except as otherwise provided in Sections 14.214.2 or 14.3, the Employer in its discretion may terminate the Plan and distribute benefits to Participants subject to the following requirements: 14.1.1 All arrangements sponsored by the Employer that would be aggregated with the Plan under Section 1.409A-1(c) of the Treasury Regulations are terminated. 14.1.2 No payments other than payments that would be payable under the terms of the Plan if the termination had not occurred are made within 12 months of the termination date. 14.1.3 All benefits under the Plan are paid within 24 months of the termination date. 14.1.4 The Employer does not adopt a new arrangement that would be aggregated with the Plan under Section 1.409A-1(c1.409A- 1(c) of the Treasury Regulations providing for the deferral of compensation at any time within five years following the date of termination of the Plan.