|
|
![]() | ![]() | ![]() | ![]() |
| |||||||||
This excerpt taken from the RVBD 10-Q filed Jul 30, 2007. PAYMENT OF AWARDS 4.1 Right to Receive Payment. Each Actual Award that may become payable under the Plan shall be paid solely from the general assets of the Company or the Affiliate that employs the Participant (as the case may be), as determined by the Company. Nothing in this Plan shall be construed to create a trust or to establish or evidence any Participants claim of any right to payment of an Actual Award other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. 4.2 Timing of Payment. Subject to Section 3.5, payment of each Actual Award shall be made as soon as administratively practicable, as determined in the sole discretion of the Company, but in no event later than two and one-half months after the end of the applicable Performance Period or Progress Period. 4.3 Form of Payment. Each Actual Award shall be paid in cash (or its equivalent) in a single lump sum. 4.4 Payment in the Event of Death. If a Participant dies prior to the payment of an Actual Award (determined under Section 3.5) that was scheduled to be paid to him or her prior to death for a prior Performance Period, the Actual Award shall be paid to his or her designated beneficiary or, if no beneficiary has been designated, to the administrator or representative of his or her estate. |
| |||||||