Common use of American Jobs Creation Act of 2004 Clause in Contracts

American Jobs Creation Act of 2004. To the extent the American Jobs Creation Act of 2004, as amended, and the regulations thereunder (collectively, the “Act”) apply to any payment to be made to Employee hereunder, the parties’ intent is that such payment, unless expressly provided otherwise (such as in the case of severance payments) or unless deferred pursuant to the terms of a written deferred compensation plan maintained by Employer or one of its affiliates, will be paid no later than (a) March 15th of the calendar year following the end of Employee’s first taxable year in which the amount is no longer subject to a “substantial risk of forfeiture” or (b) March 15th of the calendar year after the end of Employer’s first taxable year in which the amount is no longer subject to a “substantial risk of forfeiture.” The purpose of this provision is reflect the parties’ desire and intent to comply with the Act, to the extent applicable.

American Jobs Creation Act of 2004. To the extent the American Jobs Creation Act of 2004, as amended, and the regulations thereunder (collectively, the “Act”) apply to any payment to be made to Employee Executive hereunder, the parties’ intent is that such payment, unless expressly provided otherwise (such as in the case of severance payments) or unless deferred pursuant to the terms of a written deferred compensation plan maintained by Employer or one of its affiliates, will be paid no later than (a) March 15th of the calendar year following 21/2 months after the end of EmployeeExecutive’s first taxable year in which the amount is no longer subject to a “substantial risk of forfeiture” or (b) March 15th of the calendar year 21/2 months after the end of EmployerExecutive’s first taxable year in which the amount is no longer subject to a “substantial risk of forfeiture.” The purpose of this provision is reflect the parties’ desire and intent to comply with the Act, to the extent applicable.

American Jobs Creation Act of 2004. To the extent the American Jobs Creation Act of 2004, as amended, and the regulations thereunder (collectively, the “Act”) apply to any payment to be made to Employee Executive hereunder, the parties’ intent is that such payment, unless expressly provided otherwise (such as in the case of severance payments) or unless deferred pursuant to the terms of a written deferred compensation plan maintained by Employer or one of its affiliates, will be paid no later than (a) March 15th of the calendar year following 21/2 months after the end of EmployeeExecutive’s first taxable year in which the amount is no longer subject to a “substantial risk of forfeiture” or (b) March 15th of the calendar year 21/2 months after the end of EmployerExecutive’s first taxable year in which the amount is no longer subject to a “substantial risk of forfeiture.” The purpose of this provision is to reflect the parties’ desire and intent to comply with the Act, to the extent applicable.