Timing of Benefit Payments Sample Clauses

Timing of Benefit Payments. If the Executive is a Key Employee, all amounts payable under the Agreement that are subject to Section 409A of the Code shall be paid in a lump-sum on the date that is six months following the Executive's Separation from Service (or on the date of the Executive's death, if earlier). Otherwise, such amounts shall be payable in a lump sum on the date of the Executive's Separation from Service (or on the date of the Executive's death, if earlier), provided that the Company may within the 15-day period specified in Section 4(b) either (i) make the payment to the Executive subject to the Executive’s obligation to promptly return the funds if the release required under Section 13 is revoked by the Executive as provided in the release or (ii) deposit the funds with a third party escrow agent pursuant to customary arrangements where the only condition to release of the escrowed funds to the Executive is that the release has not been revoked by the Executive as provided in the release. For purposes of this Section 5A, a payment that is required to be made on a certain date may be made as soon as practicable following such date, provided that the payment must be made during the same calendar year as the required payment date or, if later, by the 15th day of the third calendar month following the required payment date, or otherwise in accordance with Section 409A of the Code.
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Timing of Benefit Payments. No amount payable under the Plan that is subject to Section 409A of the Code will be paid before the date that is six months following the Participant’s “Separation from Service,” within the meaning of Section 409A of the Code, or on the date of the Participant’s death, if earlier. For purposes of this Section 4.9, a payment that is required to be made on a certain date may be made as soon as practicable following such date, provided that the payment must be made during the same calendar year as the required payment date or, if later, by the 15th day of the third calendar month following the required payment date, or otherwise in accordance with Section 409A of the Code. Executive Severance Plan October 15, 2006
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Timing of Benefit Payments. Benefits shall be paid to Participants (i) in the case of an IPO or cash distributions with respect to a Liquidity Event, in cash within 15 days following the Liquidity Date; and (ii) in the case of distributions with respect to a Liquidity Event in the form of assets other than cash, not later than 60 days following the date on which the value of such assets can reasonably be determined, or, if later, 60 days following the Liquidity Date. The value of distributions in the form of assets other than cash shall be as determined by the Participants and Employer collectively within 5 days of the Liquidity Date and, if no determination is reached, then by a mutually agreeable independent valuation agent selected by the Participants and the Employer with 10 days of the Liquidity Event, the cost of which shall be borne 50% by Employer and 50% by the Participants. If the Participants and Employer are unable to agree upon an independent valuation agent within 10 days of the Liquidity Event, either the Participants or the Employer may request that an appraiser be appointed by the American Society of Appraisers and the appraiser so appointed shall promptly value such assets. If any distribution or payments should be made to shareholders of AJJ on a basis that results in cash payments to some of its shareholders and non-cash distributions to other shareholders, the benefits shall be determined on the basis of the type or types of assets that are included in the distribution to the Employer's subsidiary, Ask Jeeves International, Inc. ("AJI"), or any successor owner of the AJI shares, in respect of the AJJ shares owned by it. Tax Withholding. Participants shall be responsible for all income tax due as a result of a benefit distribution to them. Employer shall make payments of benefits net of any required withholding for United States taxes and similar deductions. Participants shall be considered fully paid, and shall have no further right to payment, if the Employer makes payments on this net basis and complies with applicable United States' laws regarding the remittance of withheld taxes.
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Timing of Benefit Payments. If the Executive is a “specified employee” (within the meaning of Section 409A), all amounts payable under the Agreement as cash severance that are subject to Section 409A shall be paid in a lump-sum on the date that is six months following the Executive’s “separation of service” (within the meaning of Section 409A), or on the date of the Executive’s death, if earlier. Otherwise, such amounts shall be payable in a lump sum on the date of the Executive’s separation from service or on the date of the Executive’s death, if earlier. For purposes of this paragraph 22, a payment must be made during the same calendar year as the required payment date or, if later, by the 15th day of the third calendar month following the required payment date, or otherwise in accordance with Section 409A.
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Timing of Benefit Payments. Benefits under the Plan are not paid until after termination of your employment with Interpublic and its subsidiaries. The Plan is designed for your full vested benefit to become payable after age 60. However, you may receive a reduced benefit beginning as early as age 55, if you have participated in the Plan for at least five years. Regardless of your age, you may not begin receiving your vested benefit under the Plan until your non-competition and non-solicitation agreements (as described in your Participation Agreement) have expired. Breach of your non-competition agreement or non-solicitation agreement will result in the forfeiture of your vested benefit.
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Timing of Benefit Payments 
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Related to Timing of Benefit Payments

  • Distribution of Benefits Members of this unit with at least one year of the service to the District may apply for a number of days consistent with a one-for-one match of their individual sick leave accumulation as of the end of the previous contract year brought forward to the year of the onset of disability. The combined benefit of accumulated personal sick leave and disability bank leave may not exceed one hundred-eighty days and may carry over from one contract year to another. Employees with less than one full year of service in the District will not be require to contribute one of their individual accumulated sick leave days to the disability bank. The Board reviews the right to request re-application and documentation from anyone requesting more than forty (40) days from the pool. Any benefits will be minus other insurance coverage (i.e. worker’s compensation, social security, etc.).

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Payment of Benefits All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

  • Timing of Severance Payments Any severance payment to which Employee is entitled under Sections 3(a)(i)(1), 3(a)(i)(2) and 3(a)(i)(5) shall be paid by the Company to the Employee (or to the Employee's successors in interest pursuant to Section 7(b)) in cash and in full, not later than thirty (30) calendar days following the Termination Date, subject to any delay required under Section 9.

  • Duration of Benefits Eligibility for Income Protection benefits will cease upon the earliest of the following dates: 1.09.01 the date the member is no longer disabled from performing the duties of their regular position, or any alternative employment made available to the member by the City. 1.09.02 the date the member's Income Protection benefits have been expended. 1.09.03 the date the member dies.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Payment in Lieu of Benefits a) All employees not transferred to the Trust who received pay in lieu of benefits under a collective agreement in effect as of August 31, 2014, shall continue to receive the same benefit.

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