Common use of Acceleration of Payments Clause in Contracts

Acceleration of Payments. Notwithstanding anything contained in Sections l or 3 of this Agreement that might otherwise be to the contrary, the Company's Board of Directors shall have the power in its discretion to pay the total amount of any Monthly Executive Compensation Benefit payments that may become payable under this Agreement either in a single sum or in a lesser number of installments than if payments were made monthly as would otherwise be provided in Sections l or 3. If the Company's Board of Directors decides to pay Executive's Monthly Executive Compensation Benefit as a single sum, or in such lesser number of installments, then the dollar amount(s)) owed by the Company to Executive or Executive's Beneficiary under this Agreement shall be less than the sum of the nominal dollar amounts that would otherwise be owed under Sections l or 3 in order to take into account the time value of money. The dollar amounts that shall be owed by the Company under this Agreement in the case of a single sum payment or payment in a lesser number of installments than would otherwise be made in Sections l or 3 shall be the amount determined by: