Common use of Benefits to be Provided Clause in Contracts

Benefits to be Provided. If the Executive becomes eligible for benefits under Section 4.1, the Company shall immediately pay the Executive a lump sum cash payment (less applicable employment and withholding taxes) equal to $151,067 (the "Severance Payment"), which amount is the average of the amount of the Executive's annual salary and annual cash bonuses, payable from the Company, Cotton States Life or any subsidiary or affiliate of the Company or Cotton States Life, for the 2001, 2002 and 2003 calendar years. In the event the Proposed Merger is consummated, Cotton States Life shall be responsible for the Severance Payment to the Executive.

Benefits to be Provided. If the Executive becomes eligible for benefits under Section 4.1, the Company shall immediately pay the Executive a lump sum cash payment (less applicable employment and withholding taxes) equal to $151,067 137,000 (the "Severance Payment"), which amount is the average of the amount of the Executive's annual salary and annual cash bonuses, payable from the Company, Cotton States Life or any subsidiary or affiliate of the Company or Cotton States Life, for the 2001, 2002 and 2003 calendar years. In the event the Proposed Merger is consummated, Cotton States Life shall be responsible for the Severance Payment to the Executive.

Benefits to be Provided. If the Executive becomes eligible for benefits under Section 4.1, the Company shall immediately pay the Executive a lump sum cash payment (less applicable employment and withholding taxes) equal to $151,067 167,600 (the "Severance Payment"), which amount is the average of the amount of the Executive's annual salary and annual cash bonuses, payable from the Company, Cotton States Life or any subsidiary or affiliate of the Company or Cotton States Life, for the 2001, 2002 and 2003 calendar years. In the event the Proposed Merger is consummated, Cotton States Life shall be responsible for the Severance Payment to the Executive.

Benefits to be Provided. If the Executive becomes eligible for benefits under Section 4.1, the Company shall immediately pay the Executive a lump sum cash payment (less applicable employment and withholding taxes) equal to $151,067 167,933 (the "Severance Payment"), which amount is the average of the amount of the Executive's annual salary and annual cash bonuses, payable from the Company, Cotton States Life or any subsidiary or affiliate of the Company or Cotton States Life, for the 2001, 2002 and 2003 calendar years. In the event the Proposed Merger is consummated, Cotton States Life shall be responsible for the Severance Payment to the Executive.