Common use of Limitation for Specified Employees Clause in Contracts

Limitation for Specified Employees. If any Shares shall be issuable with respect to the RSUs as a result of the Team Member’s “separation from service” at such time as the Team Member is a “specified employee” within the meaning of Code Section 409A, then no Shares shall be issued, except as permitted under Code Section 409A, prior to the first business day after the earlier of (i) the date that is six months after the Team Member’s “separation from service”, or (ii) the Team Member’s death.

Appears in 8 contracts

Samples: Restricted Stock Unit Agreement (Target Corp), Restricted Stock Unit Agreement (Target Corp), Restricted Stock Unit Agreement (Target Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.