Common use of Payment of Severance Compensation Clause in Contracts

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.

Appears in 9 contracts

Samples: Noncompetition Agreement (Stanley, Inc.), Noncompetition Agreement (Stanley, Inc.), Noncompetition Agreement (Stanley, Inc.)

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