Common use of SERP Payment Clause in Contracts

SERP Payment. In satisfaction of all liabilities and obligations under the Nortek, Inc. Supplemental Retirement Plan (the "SERP"), Employee shall be entitled to a lump sum cash payment of $3,156,380.30 less applicable withholding, payable on the Effective Time. Such payment, however, does not release Employer from its obligations to pay the Employee an additional amount as a Gross Up, pursuant to Sections 6.3 of the SERP or Section 5 of this Agreement.

SERP Payment. In satisfaction of all liabilities and obligations under the Nortek, Inc. Supplemental Retirement Plan (the "SERP"), Employee shall be entitled to a lump sum cash payment of $3,156,380.30 8,563,677.23 less applicable withholding, payable on the Effective Time. Such payment, however, does not release Employer from its obligations to pay the Employee an additional amount as a Gross Up, pursuant to Sections 6.3 of the SERP or Section 5 of this Agreement.

SERP Payment. In satisfaction of all liabilities and obligations under the Nortek, Inc. Supplemental Retirement Plan (the "SERP"), Employee shall be entitled to a lump sum cash payment of $3,156,380.30 ________, less applicable withholding, payable on the Effective Time. Such payment, however, does not release Employer from its obligations to pay the Employee an additional amount as a Gross Up, pursuant to Sections 6.3 of the SERP or Section 5 of this Agreement.