Payment of Noncash Benefits Clause Samples

Payment of Noncash Benefits. The payment for any noncash benefits that constitute Section 409A Deferred Compensation, including, but not limited to, any applicable premium payments related to such noncash benefits, shall be made by Executive during the 6-Month Delay, and Executive shall be reimbursed by the Company for such payments as soon as administratively practicable following the expiration of the 6-Month Delay. The Company shall provide timely notice to Executive of all required payments and rights of election, in accordance with applicable law and the terms of applicable plan documents, but the Executive shall be solely liable for all timely payments and elections as may be necessary to retain such noncash benefits, and the Company shall not be liable to Executive, any dependent and/or qualified beneficiary for any loss of any kind, including the loss of noncash benefits relating to Executive’s failure to timely make any payments or elections as required under the applicable benefit plan or this paragraph 22. By signing this Agreement, Executive acknowledges this provision and the ramifications, including the potential loss of benefits, of the failure to comply with this provision.

Payment of Noncash Benefits. The payment for any noncash benefits, including, but not limited to, any applicable premium payments related to such noncash