Payment of Severance Compensation. Except as provided in Section 4.3 below, the cash payments described in Section 4.1(a) shall be made within the time provided by law. No reimbursement of expenses under Section 4.1(a) shall be made after the last day of the year following the year in which the expense was incurred. The payments described in Section 4.1(b) and (c) shall be made in a lump sum within five business days after the later of the Date of Termination or the execution and return of the Release Agreement and expiration of revocation period provided for therein.
Payment of Severance Compensation. The severance compensation set forth in Section 3(a) will be payable in 36 equal monthly installments commencing on the first day of the month following the month in which the Separation from Service occurs. Notwithstanding the above, in the event that the Executive is a “specified employee” within the meaning of Code section 409A, the first six monthly installments shall be paid in a lump sum on the first day of the month following or coincident with the date that is six months following the Separation from Service and all remaining monthly installments shall be paid monthly.
Payment of Severance Compensation. (a) The severance compensation set forth in Section 3 (a) will be payable in 36 equal monthly installments commencing on the first day of the month following the month in which Executive's employment terminates. However, Executive may elect in writing, in accordance with the provisions of this Section, to receive Executive's severance compensation in a lump sum at a later time or in installments in amounts and at times elected by Executive, but Executive's election will not entitle Executive to receive severance compensation sooner than permitted by the preceding sentence.
Payment of Severance Compensation. The Company shall pay the Severance Compensation as follows:
Payment of Severance Compensation. Severance Compensation calculated pursuant to Section 9(a)(ii) shall be due and payable to the Employee in 120 equal and consecutive semi-monthly installments. Such Severance Compensation shall be due and payable commencing in the month following such termination of the Employee's employment on the Company's regular payroll dates for its senior management employees.
Payment of Severance Compensation. (a) The severance compensation set forth in Sections 8.1(a) and 8.1(b) will be payable in 36 equal monthly installments commencing on the first day of the month following the month in which employment terminates. However, the Employee may elect in writing, in accordance with the provisions of this Section, to receive his severance compensation in a lump sum at a later time or in installments in amounts and at times elected by the Employee, but that election will not entitle the Employee to receive severance compensation sooner than permitted by the preceding sentence.
Payment of Severance Compensation. Severance Compensation calculated pursuant to Section 9(a)(iii) shall be due and payable to the Employee in 24 equal and consecutive semimonthly installments unless funded by an insurance policy, in which then the entire amount shall be immediately due and owing. Severance Compensation calculated pursuant to Section 9(a)(ii) shall be due and payable to the Employee in 120 equal and consecutive semi-monthly installments unless funded by an insurance policy, in which then the entire amount shall be immediately due and owing. Such Severance Compensation shall be due and payable commencing in the month following such termination of the Employee's employment (which shall mean in the case of a voluntary termination by the Employee pursuant to Section 8(d), the expiration of the applicable written notice period or the date that the Employee is required to vacate the premises, whichever is earlier), on the Company's regular payroll dates for its senior management employees.
Payment of Severance Compensation. Although the Company is not otherwise obligated to do so, if you timely sign, date, and return this fully signed Agreement to the Company no later than _________________ and allow it to become effective, and you comply with your obligations hereunder, the Company will pay you severance compensation in the form of a continuance of the base salary (not bonus compensation) provided for in the Employment Agreement entered into between you and the Company effective ____________, 2012, payable according to the Company’s regular payroll schedule, policies, and practices, through a date that is 24 months after the effective date of the Employment Agreement, subject to applicable deductions and withholdings (the “Severance Compensation”). Payment of the Severance Compensation will be made in accordance with the Company’s regular payroll schedule, commencing ____ business days following the Effective Date of this Agreement (as defined in Section 13(d)). The first installment of the Severance Compensation will include retroactive payment of any compensation that would have accrued after the termination date and would have been payable to you on the Company’s regular payroll schedule but for the termination of the employment.
Payment of Severance Compensation. Bank will pay to the Executive, his estate or his designated beneficiary the sum of $352,500, less required withholdings for taxes, on the Termination Date (the "Payment"). The Executive hereby accepts and acknowledges this sum as payment in full, and in full satisfaction, of any and all salary, compensation, change in control payments and other entitlements, benefits or compensation of any type owed to the Executive under the Employment Agreement.
Payment of Severance Compensation. (a) Unless Employee elects otherwise on or before December 31, 2008 in accordance with Section 5(b), the severance compensation set forth in Section 3(a) will be payable in a lump sum on the date which is six month following the Employee’s termination of employment.
