Common use of Delayed Distribution under Section 409A of the Code Clause in Contracts

Delayed Distribution under Section 409A of the Code. If Executive is a “specified employee,” as defined in Code Section 409A(a)(2)(B)(i), on the date of Executive’s Separation from Service, the payments or benefits under this Agreement subject to Code Section 409A shall be delayed to the extent necessary to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, and such payments or benefits shall be paid or distributed to Executive (or Executive’s estate) during the thirty (30) day period commencing on the earlier of (a) the expiration of the six (6) month period measured from the date of Executive’s Separation from Service, or (b) the date of Executive’s death. Upon the expiration of the applicable six (6) month period under Section 409A(a)(2)(B)(i) of the Code, all payments deferred pursuant to this Section 5.11 shall be paid in a lump sum payment to Executive. Any remaining payments due under the Agreement shall be paid as otherwise provided herein.

Delayed Distribution under Section 409A of the Code. If Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee,” as defined in Code Section 409A(a)(2)(B)(i), Specified Employee on the date of Executive’s Separation from Service's Involuntary Termination, to the extent that the payments or benefits under this Agreement are subject to Code Section 409A shall be of the Code and the delayed payment or distribution of all or any portion of such amounts to the extent necessary which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, and then such payments or benefits portion shall be paid or distributed to Executive (or Executive’s estate) during the thirty (30) day period commencing on the earlier of (a) the expiration of the six (6) month 6)-month period measured from the date of Executive’s 's Separation from Service, Service or (b) the date of Executive’s 's death. Upon the expiration of the applicable six (6) month period under Section 409A(a)(2)(B)(i) of the Code, all payments deferred pursuant to this Section 5.11 3(b) shall be paid in a lump sum payment to Executive. Any remaining payments due under the Agreement shall be paid as otherwise provided herein.

Delayed Distribution under Section 409A of the Code. If Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee,” as defined in Code Section 409A(a)(2)(B)(i), Specified Employee on the date of Executive’s Separation from ServiceInvoluntary Termination, to the extent that the payments or benefits under this Agreement are subject to Code Section 409A shall be of the Code and the delayed payment or distribution of all or any portion of such amounts to the extent necessary which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, and then such payments or benefits portion shall be paid or distributed to Executive (or Executive’s estate) during the thirty (30) day period commencing on the earlier of (a) the expiration of the six (6) month 6)-month period measured from the date of Executive’s Separation from Service, Service or (b) the date of Executive’s death. Upon the expiration of the applicable six (6) month period under Section 409A(a)(2)(B)(i) of the Code, all payments deferred pursuant to this Section 5.11 3(b) shall be paid in a lump sum payment to Executive. Any remaining payments due under the Agreement shall be paid as otherwise provided herein.

Delayed Distribution under Section 409A of the Code. If Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee,” as defined in Code Section 409A(a)(2)(B)(i), Specified Employee on the date of Executive’s Separation from ServiceInvoluntary Termination, to the extent that the payments or benefits under this Agreement are subject to Code Section 409A shall be of the Code and the delayed payment or distribution of all or any portion of such amounts to the extent necessary which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, and then such payments or benefits portion shall be paid or distributed to Executive (or Executive’s estate) during the thirty (30) day period commencing on the earlier of (ai) the expiration of the six (6) month 6)-month period measured from the date of Executive’s Separation from Service, Service or (bii) the date of Executive’s death. Upon the expiration of the applicable six (6) month period under Section 409A(a)(2)(B)(i) of the Code, all payments deferred pursuant to this Section 5.11 5(b) shall be paid in a lump sum payment to Executive. Any remaining payments due under the Agreement shall be paid as otherwise provided herein.