Common use of Key Employee Six Month Deferral Clause in Contracts

Key Employee Six Month Deferral. Notwithstanding anything to the contrary in this Agreement, if Executive qualifies as a “specified employee” as defined in Code Section 409A, a payment of nonqualified deferred compensation paid on account of a Termination of Employment may not be made until at least six (6) months after such Termination of Employment. Any such payment otherwise due in such six (6) month period shall be suspended and become payable at the end of such six (6) month period.

Key Employee Six Month Deferral. Notwithstanding anything to the contrary in this Agreement, if Executive qualifies as a “specified employee” as defined in Code Section 409A, a payment of nonqualified deferred compensation paid on account of a Termination of Employment may not be made until at least six (6) months after such Termination of Employment. Any such payment otherwise due in such six (6) month period shall be suspended and become payable at the end of such six (6) month period.

Key Employee Six Month Deferral. Notwithstanding anything to the contrary in this AgreementSection 4, if Executive qualifies as a “specified employeeSpecified Employee” may not receive a payment of nonqualified deferred compensation, as defined in Code Section 409A409A and the regulations thereunder, a payment of nonqualified deferred compensation paid on account of a Termination of Employment may not be made until at least six (6) months after such Termination a Date of EmploymentTermination. Any such payment of nonqualified deferred compensation otherwise due in such six (6) month period shall be suspended and become payable at the end of such six (6) month period.

Key Employee Six Month Deferral. Notwithstanding anything to the contrary in this Agreement, if Executive qualifies as a “specified employee” as defined in Code Section 409A, a payment of nonqualified deferred compensation paid on account of a Termination of Employment may not be made until at least six (6) months after such Termination of Employment. Any such payment otherwise due in such six (6) month period shall be suspended and become payable at the end of such six (6) month period.six

Key Employee Six Month Deferral. Notwithstanding anything to the contrary in this AgreementSection 2, if Executive qualifies as a “specified employeeSpecified Employee” may not receive a payment of nonqualified deferred compensation, as defined in Code Section 409A409A and the regulations thereunder, a payment of nonqualified deferred compensation paid on account of a Termination of Employment may not be made until at least six (6) months after such Termination a Date of EmploymentTermination. Any such payment of nonqualified deferred compensation otherwise due in such six (6) month period shall be suspended and become payable at the end of such six (6) month period.