Common use of SERP Payment Clause in Contracts

SERP Payment. Immediately prior to the Closing Date, the Company shall make a lump sum cash payment to the Executive in an amount equal to $604,933 in full satisfaction of the obligations under the SERP.

SERP Payment. Immediately prior to the Closing Date, the Company shall make a lump sum cash payment to the Executive in an amount equal to $604,933 601,841 in full satisfaction of the obligations under the SERP.