Common use of Amounts Payable On Account of Termination Clause in Contracts

Amounts Payable On Account of Termination. To the extent necessary to comply with Section 409A, for the purposes of determining when amounts subject to Section 409A that are payable upon Executive’s termination of employment under this Agreement will be paid, “termination of employment” or words of similar import, as used in this Agreement, shall be construed as the date that Executive first incurs a “separation from service” within the meaning of Section 409A.

Amounts Payable On Account of Termination. To the extent necessary to comply with Section 409A, for the purposes of determining when amounts subject to Section 409A that are payable upon ExecutiveEmployee’s termination of employment under this Agreement will be paid, “termination of employment” or words of similar import, as used in this Agreement, shall be construed as the date that Executive Employee first incurs a “separation from service” within the meaning of Section 409A.