Common use of 409A Six Month Delay Clause in Contracts

409A Six Month Delay. If the Employee is a “specified employee” within the meaning of Section 409A of the Code at the time of the Employee’s Termination of Employment, then any payment made to the Employee as a result of such Termination of Employment shall be delayed for six months following the Employee’s termination to the extent required by Section 409A of the Code.

Appears in 15 contracts

Samples: 2023 Stock Incentive Plan Performance Stock Units Award Agreement (Borgwarner Inc), 2018 Stock Incentive Plan Performance Share Award Agreement (Borgwarner Inc), 2023 Stock Incentive Plan Stock Unit Award Agreement (Borgwarner Inc)

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409A Six Month Delay. If the Employee is a “specified employee” within the meaning of Section 409A of the Code at the time of the Employee’s Termination of Employment, then any payment made to the Employee as a result of such Termination of Employment shall be delayed for six months following the Employee’s termination to the extent required by Section 409A of the Code.. 4887-3560-8925.2

Appears in 1 contract

Samples: 2023 Stock Incentive Plan Performance Stock Units Award Agreement (Borgwarner Inc)

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