Timing of Severance Payment. Subject to Section 3(b), the Severance Payment provided for in Section 2(a)(ii) shall be made not later than the tenth (10th) day following the date on which the General Release by Executive becomes irrevocable.
Timing of Severance Payment. The Severance Payment shall be payable to Employee (or, in the event of death, to his estate or legal representative) in cash by the Company over a period of twelve (12) consecutive months, in equal monthly installments subject to the Company’s normal payroll policies commencing on the first regular payroll date that occurs after Employee’s Date of Termination; provided, however, that any installments that otherwise would be payable on the Company’s regular payroll dates between the Date of Termination and the fortieth (40th) calendar day after the Date of Termination will be delayed until the Company’s first regular payroll date that is more than forty (40) days after the Date of Termination and included with the installment payable on such payroll date.
Timing of Severance Payment. (A) Except as otherwise provided herein, the Severance Payment shall be payable in cash by the Company in twenty-four (24) equal monthly installments commencing on the date that is thirty (30) days after Employee’s Date of Termination;
(B) Notwithstanding (A) above, if Employee is terminated within the two (2) year period commencing on the date of a Change of Control, the Severance Payment, if any that is due hereunder, shall be paid to Employee, subject to Section 6(d)(iii) in a lump sum not later than thirty (30) days following Employee’s Date of Termination.
(C) Notwithstanding (A) above, if Employee is terminated within the six (6) month period prior to the date on which a Change of Control occurs, all installments due to Employee under (A) above and not paid prior to the date of the Change of Control shall be payable, subject to Section 6(d)(iii), in a lump sum not later than thirty (30) days following the date of the Change of Control.
Timing of Severance Payment. Assuming that the conditions to receipt of the Severance Payment and other benefits as described in Section 2(c) above have been met, the Company shall pay Employee the benefits described in Sections 2(b)(A)-(C) on the Payment Date. The payments specified in Section 2(b)(D) shall begin after the Payment Date.
Timing of Severance Payment. The Severance Payment shall be payable to Employee (or, in the event of death, to his estate or legal representative) in cash by the Company over a period of 12 consecutive months.
Timing of Severance Payment. The Severance Payment shall be made not later than the tenth business day following the Date of Termination
Timing of Severance Payment. Any cash payable to the Executive under Sections 3(a) and 3(b) of this Agreement shall be payable in a lump sum within 10 calendar days after the Executive’s termination of employment, provided, however, if, at the time of the Executive’s termination of employment, the Executive is a “specified employee” (as defined in Section 409A of the Internal Revenue Code of 1986) and the payment under Sections 3(a) and 3(b) is subject to Section 409A of the Internal Revenue Code of 1986, then such payment shall not be made until six months and one day following the date of the Executive terminates employment, except as may otherwise be permitted under Section 409A of the Internal Revenue Code of 1986.”
Timing of Severance Payment. The xxxxxxs agree that the Severance Payment shall be paid out over a six-month period, as follows: Amount Date of Payment ------ ----------------- $82,500: Immediately upon Company's receipt of this Agreement, executed by Gollin. $27,500 August 15, 2003 $27,500 Septexxxx 15, 2003 $27,500 October 15, 2003 $27,500 November 17, 2003 $27,500 December 15, 2003 $27,500 January 15, 2004 In addition to the above-referenced Severance Payment, Company agrees to pay up to $10,000 of Gollin's legal fees incurred with George Bostick and/or the law xxxx Xxtherland Asbill & Brennan XXX. xxx xxxxxces provided on or bxxxxx xxx xxxx of xxxx Agreement.
Timing of Severance Payment. Upon a Participant's Termination of Employment, the Company shall determine such Participant's eligibility for benefits hereunder. Each eligible Participant shall receive his severance benefit commencing as soon as administratively practicable following his Termination of Employment and the determination of the amount of his benefit hereunder, if any. Such severance benefit payment shall be made in such form as the Company shall determine, in its complete and sole discretion, including, but not limited to:
(a) a single sum payment; or
(b) continuation of his regular payment of compensation as in effect prior to his Termination of Employment. In the event a Participant is paid in accordance with Subparagraph b above and dies during term of payments, all payments cease upon death. Notwithstanding the foregoing provisions of this Section 5.4, in order to prevent this Plan from being deemed a pension plan under ERISA, all such payments to a Participant shall be completed by:
(1) in the case of a Participant whose Termination of Employment is in connection with a Limited Program of Terminations, within the later of:
(i) twenty-four (24) months after such Termination of Employment; or
(ii) twenty-four (24) months after the Participant reaches his Normal Retirement Age; and
(2) in the case of any other Participant, within twenty-four (24) months after his Termination of Employment.
Timing of Severance Payment. The Severance Payment will be paid in equal monthly installments over the 18-month period following the Resignation Date beginning on the sixtieth (60th) day following the Resignation Date, provided that all statutory rescission periods contained in this Agreement have expired without revocation and subject to the provisions of Section V(K) of this Agreement.
