Common use of Expiration of Employment Period Clause in Contracts

Expiration of Employment Period. If Executive’s employment shall be terminated due to the normal expiration of the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations, the Prorata Bonus and the timely payment or provision of Other Benefits. Accrued Obligations and the Prorata Bonus shall be paid to Executive in a lump sum in cash within thirty (30) days of the Date of Termination, subject to Section 15 herein. Notwithstanding the foregoing, if the Prorata Bonus becomes payable to Executive under this Section 6(d) during a period in which Executive is a Specified Employee, then, subject to any permissible acceleration of payment by the Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes), Executive’s right to receive payment or distribution of the Prorata Bonus will be delayed until the earlier of (i) a date no later than 30 days following Executive’s death or (ii) the first day of the seventh month following Executive’s separation from service.