Common use of Unfunded Deferred Compensation Clause in Contracts

Unfunded Deferred Compensation. On the Effective Date of a Change of Control, Executive shall become fully vested in all benefits previously accrued under any deferred compensation Plan (including a SERP) that is not qualified under Section 401(a) of the Code (a “Non-Qualified Plan”). Within five business days after the Effective Date of a Change of Control, the Company shall pay to Executive a lump-sum cash amount equal to: (a) the sum of the Lump-Sum Values of all Maximum Annuities that are payable pursuant to all defined benefit Non-Qualified Plans, plus (b) the sum of Executive’s account balances under all defined contribution Non-Qualified Plans. To the extent that, if, for any reason, any portion of such Non-Qualified Plan benefit is not so paid, the Company shall pay Executive in lieu thereof a lump-sum cash payment equal to such unpaid portion within the five-business day period specified in the preceding sentence.

Unfunded Deferred Compensation. On the Effective Date of a Change of Control, Executive shall become fully vested in all benefits previously accrued under any deferred compensation Plan (including a SERP) that is not qualified under Section 401(a) of the Code (a “Non-Qualified Plan”). Within five business days after the Effective Date of a Change of Control, the Company shall pay to Executive a lump-sum cash amount equal to: (a) the sum of the Lump-Sum Values of all Maximum Annuities that are payable pursuant to all defined benefit Non-Qualified Plans, plus (b) the sum of Executive’s account balances under all defined contribution Non-Qualified Plans. To the extent that, if, for any reason, any portion of such Non-Qualified Plan benefit is not so paid, the Company shall pay Executive in lieu thereof a lump-sum cash payment equal to such unpaid portion within the five-business day period specified in the preceding sentence. (5) This text is to be used in Agreements originally entered into prior to November 13, 2007, and being amended and restated on or after this date.

Unfunded Deferred Compensation. On the Effective Date of a Change of Control, Executive shall become fully vested in all benefits previously accrued under any deferred de­ferred compensation Plan (including a SERP) that is not qualified under Section 401(a) of the Code (a “Non-Qualified Plan”). Within five business busi­ness days after the Effective Date of a Change of Control, the Company shall pay to Executive a lump-sum cash amount equal to: (a) the sum of the Lump-Sum Values of all Maximum Annuities that are payable pursuant to all defined benefit Non-Qualified Plans, plus (b) the sum of Executive’s account balances under all defined contribution Non-Qualified Plans. To the extent that, if, for any reason, any portion of such Non-Qualified Plan benefit is not so paid, the Company shall pay Executive in lieu thereof a lump-sum cash payment equal to such unpaid portion within the five-business busi­ness day period specified in the preceding sentence.