Common use of Salary Continuation Payments Clause in Contracts

Salary Continuation Payments. Executive shall be eligible to receive Executive’s base salary for a total period of eighteen (18) months at the annualized rate in effect for him at the time of his Involuntary Termination; provided, however, that if Executive’s Involuntary Termination is due to an event set forth in clause (C)(i) of the “Involuntary Termination” definition, then such salary continuation payments shall be based on the annualized rate of base salary in effect for Executive immediately prior to the applicable reduction. The salary continuation payments shall be made at periodic intervals in accordance with the Corporation’s payroll practices for salaried employees, beginning with the first pay date within the sixty (60)-day period measured from the date of Executive’s Separation from Service due to such Involuntary Termination on which the requisite Release is effective. In no event shall the first such payment be made later than the last day of such sixty (60)-day period on which the Release is so effective, unless a further deferral is required pursuant to Part Five - 3 of this Agreement. The salary continuation payments to which Executive becomes entitled in accordance with this Part Three - 2.A or Part Four - 2.A, if applicable) shall be treated as a right to a series of separate payments for purposes of Section 409A.

Salary Continuation Payments. Executive shall be eligible to receive Executive’s his base salary for up to a total period of eighteen twelve (1812) months at the annualized rate in effect for him under Paragraph 3 at the time of his Involuntary Termination; provided, however, that if Executive’s Involuntary Termination is due to Executive voluntarily terminates employment within ninety (90) days following a material reduction of his base salary that constitutes an event set forth in clause (C)(i) of the “Involuntary Termination” definition, then such salary continuation payments shall be based on the annualized rate of base salary in effect for Executive immediately prior to the applicable such reduction. The salary continuation payments shall be made at periodic intervals in accordance with the Corporation’s payroll practices for salaried employees, beginning with the first pay date within the sixty (60)-day period measured from the date of Executive’s Separation from Service due to such Involuntary Termination on which the requisite Release is effective. In no event shall the first such payment be made later than the last day of such sixty (60)-day period on which the Release is so effective, unless a further deferral is required pursuant to Part Five - 3 Paragraph 18 of this Agreement. The salary continuation payments to which Executive becomes entitled in accordance with this Part Three - 2.A Paragraph 12(a) (or Part Four - 2.AParagraph 14(a), if applicable) shall be treated as a right to a series of separate payments for purposes of Section 409A.409A, and each such payment that becomes due and payable during the period commencing with the date of Executive’s Separation from Service and ending on March 15 of the succeeding calendar year is hereby designated a “Short-Term Deferral Payment” and shall be paid during that period.

Salary Continuation Payments. The Executive shall be eligible to receive Executive’s his or her base salary for a total period of eighteen six (186) months at the annualized rate in effect for him or her at the time of his or her Involuntary Termination; provided, however, that if Executive’s Involuntary Termination is due to Executive voluntarily terminates employment within sixty (60) days following a material reduction in his or her base salary that constitutes an event set forth in clause (C)(i) of the “Involuntary Termination” definition, then such salary continuation payments shall be based on the annualized rate of base salary in effect for the Executive immediately prior to the applicable such reduction. The salary continuation payments shall be made at periodic intervals in accordance with the Corporation’s payroll practices for salaried employees, beginning with the first pay date within the sixty (60)-day period measured from the date of Executive’s Separation from Service due to such Involuntary Termination on which the requisite Release is effective. In no event shall the first such payment be made later than the last day of such sixty (60)-day period on which the Release is so effective, unless a further deferral is required pursuant to Part Five - 3 Section 8 of this Agreement. The salary continuation payments to which Executive becomes entitled in accordance with this Part Three - 2.A Section 2(a) (or Part Four - 2.ASection 5(a), if applicable) shall be treated as a right to a series of separate payments for purposes of Section 409A.409A of the Code, and each such payment that becomes due and payable during the period commencing with the date of Executive’s Separation from Service and ending on March 15 of the succeeding calendar year is hereby designated a “Short-Term Deferral Payment” and shall be paid during that period.

Salary Continuation Payments. The Executive shall be eligible to receive the Executive’s base salary for a total period of eighteen (18) months at the annualized rate in effect for him at the time of his the Executive’s Involuntary Termination; provided, however, that if the Executive’s Involuntary Termination is due to an event set forth in clause (C)(iii)(A) of the “Involuntary Termination” definition, then such salary continuation payments shall be based on the annualized rate of base salary in effect for the Executive immediately prior to the applicable reduction. The salary continuation payments shall be made at periodic intervals in accordance with the Corporation’s payroll practices for salaried employees, beginning with the first pay date within the sixty (60)-day period measured from the date of Executive’s Separation from Service due to such Involuntary Termination on which the requisite Release is effective. In no event shall the first such payment be made later than the last day of such sixty (60)-day period on which the Release is so effective, unless a further deferral is required pursuant to Part Five - – 3 of this Agreement. The salary continuation payments to which the Executive becomes entitled in accordance with this Part Three - 2.A Two – 2(a) (or Part Four - 2.AThree – 2, if applicable) shall be treated as a right to a series of separate payments for purposes of Code Section 409A.