Catch-Up Payments for Certain Key Employees. The Company shall delay any payments required under this Section 4 for six months following Employee’s termination if Employee is deemed a “key employee,” as that term is defined under Code Section 409A. If payments under Section 4 are delayed, then on the day following the end of the six-month period the Company shall make a catch-up payment equal to the total amount of such payments that would have been made during the six-month period but for the application of Code Section 409A, plus interest calculated at the one-year Treasury Xxxx rate.
Appears in 7 contracts
Samples: Employment Agreement (Kratos Defense & Security Solutions, Inc.), Employment Agreement (Sys), Employment Agreement (Sys)
