Common use of Timing and Manner of Payment Clause in Contracts

Timing and Manner of Payment. Subject to any changes imposed by or allowed under the provisions of the Plan, benefits with respect to the Award shall be calculated pursuant to Section 2 and Appendix A. The Committee shall determine, in accordance with such provisions and after the end of the Performance Period, the specific amount to the paid to the Participant with respect to this Award. No payment shall be made with respect to the Award unless and until the Committee has certified, by resolution or other appropriate action in writing, that the amount thereof has been accurately determined in accordance with the terms, conditions and limits of the Award and that the applicable Performance Target was, in fact, satisfied. Any amount payable with respect to the Award shall be paid in cash as soon as practicable following such certification by the Committee. No interest or other earnings shall be paid on or accrue with respect to such amount for the period between the end of the Performance Period and the date of actual payment.