NFL Collective Bargaining Agreement
Severance Pay
Section 3Payment
Severance pay under this Article will continue to be paid in a single lump sum payment by the NFL Club with which the player last earned a Credited Season. The payment will be made automatically on the last day of the calendar quarter in which the eligible player’s “separation from service” as defined in the Severance Plan and within the meaning of Internal Revenue Code Section 409A, occurs, unless his separation from service occurs within twenty (20) days of such date, in which case his severance pay will be paid on the last day of the next following calendar quarter.