Dissolution of the Corporation. The Corporation shall terminate this Agreement and pay severance benefits described in Section 4 to Executive in a lump sum within twelve (12) months of a corporate dissolution, or with the approval of a bankruptcy court (if subject to its jurisdiction), provided that such severance benefits are included in the Executive’s gross income in the latest of: (a) the calendar year in which the Agreement termination and liquidation occurs; or (b) the first calendar year in which payment is administratively practicable.
Appears in 3 contracts
Samples: Management Continuity Agreement (O a K Financial Corp), Management Continuity Agreement (O a K Financial Corp), Management Continuity Agreement (O a K Financial Corp)
Dissolution of the Corporation. The Corporation shall terminate this Agreement and pay severance benefits described in Section 4 7 to Executive in a lump sum within twelve (12) months of a corporate dissolution, or with the approval of a bankruptcy court (if subject to its jurisdiction), provided that such severance benefits are included in the Executive’s gross income in the latest of: (a) the calendar year in which the Agreement termination and liquidation occurs; or (b) the first calendar year in which payment is administratively practicable.
Appears in 3 contracts
Samples: Employment Agreement (O a K Financial Corp), Employment Agreement (O a K Financial Corp), Employment Agreement (O a K Financial Corp)
