Common use of Cessation of Benefit Obligation To Executive Clause in Contracts

Cessation of Benefit Obligation To Executive. Prior to a Change in Control, the Trustee shall liquidate (if necessary) and distribute to the Company the Trust Fund assets allocated to an Executive's account upon written notice from the Committee certifying that the Executive is no longer entitled to any payment under the SERP or a Severance Agreement and that the applicable Severance Agreement is no longer in effect. The notice shall specify the date the Executive ceases to be entitled to any further payments. The Trustee shall distribute the assets to the Company no earlier than six (6) months subsequent to the specified date; provided, however, that if a Change in Control occurs within the six (6) month period, the Trustee shall not make any distributions under this paragraph to the Company.