Common use of Month Delay for Specified Employees Clause in Contracts

Month Delay for Specified Employees. (i) If the Participant is a “specified employee”, then no payment or benefit that is payable on account of the Participant’s “separation from service”, as that term is defined for purposes of Section 409A, shall be made before the date that is six months after the Participant’s “separation from service” (or, if earlier, the date of the Participant’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. (ii) For purposes of this provision, the Participant shall be considered to be a “specified employee” if, at the time of his or her separation from service, the Participant is a “key employee”, within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.

Month Delay for Specified Employees. (i) i. If the Participant Recipient is a “specified employee”, Specified Employee,” then no payment or benefit that is payable on account of the ParticipantRecipient’s “separation Separation from service”, as that term is defined for purposes of Section 409A, Service” shall be made before the date that is six months after the ParticipantRecipient’s “separation Separation from serviceService” (or, if earlier, the date of the ParticipantRecipient’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. (ii) . For purposes of this provision, the Participant Recipient shall be considered to be a “specified employeeSpecified Employee” if, at the time of his or her separation Separation from serviceService, the Participant Recipient is a “key employee”, ,” within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.

Month Delay for Specified Employees. (ia) If the Participant Executive is a “specified employee”, then no payment or benefit that is payable on account of the ParticipantExecutive’s “separation from service”, as that term is defined for purposes of Section 409A, shall be made before the date that is six months after the ParticipantExecutive’s “separation from service” (or, if earlier, the date of the ParticipantExecutive’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. (iib) For purposes of this provision, the Participant Executive shall be considered to be a “specified employee” if, at the time of his or her separation from service, the Participant Executive is a “key employee”, within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.

Month Delay for Specified Employees. (i) i. If the Participant is a “specified employee”, Specified Employee,” then no payment or benefit that is payable on account of the Participant’s “separation Separation from service”, as that term is defined for purposes of Section 409A, Service” shall be made before the date that is six months after the Participant’s “separation Separation from serviceService” (or, if earlier, the date of the Participant’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. (ii) . For purposes of this provision, the Participant shall be considered to be a “specified employeeSpecified Employee” if, at the time of his or her separation Separation from serviceService, the Participant is a “key employee”, ,” within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.

Month Delay for Specified Employees. (iA) If the Participant Executive is a “specified employee”, then no payment or benefit that is payable on account of the ParticipantExecutive’s “separation from service”, as that term is defined for purposes of Section 409A, shall be made before the date that is six (6) months after the ParticipantExecutive’s “separation from service” (or, if earlier, the date of the ParticipantExecutive’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. (iiB) For purposes of this provision, the Participant Executive shall be considered to be a “specified employee” if, at the time of his or her separation from service, the Participant Executive is a “key employee”, within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.

Month Delay for Specified Employees. (i) If the Participant Recipient is a “specified employeeSpecified Employee”, then no payment or benefit that is payable on account of the ParticipantRecipient’s “separation Separation from serviceService”, as that term is defined for purposes of Section 409A, shall be made before the date that is six months after the ParticipantRecipient’s “separation Separation from serviceService” (or, if earlier, the date of the ParticipantRecipient’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. (ii) For purposes of this provision, the Participant Recipient shall be considered to be a “specified employee” if, at the time of his or her separation Separation from serviceService, the Participant Recipient is a “key employee”, within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.

Month Delay for Specified Employees. (i) If the Participant Executive is a “specified employee”, then no payment or benefit that is payable on account of the ParticipantExecutive’s “separation from service”, as that term is defined for purposes of Section 409A, shall be made before the date that is six months after the ParticipantExecutive’s “separation from service” (or, if earlier, the date of the ParticipantExecutive’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. (ii) For purposes of this provision, the Participant Executive shall be considered to be a “specified employee” if, at the time of his or her separation from service, the Participant Executive is a “key employee”, within the meaning of Section 416(i) of the Code, of the Company (or any person or entity Person with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.

Month Delay for Specified Employees. (ia) If the Participant Executive is a “specified employee”, then no payment or benefit that is payable on account of the ParticipantExecutive’s “separation from service”, as that term is defined for purposes of Section 409A, shall be made before the date that is six months after the Participantdate of Executive’s “separation from service” (or, if earlier, the date of the ParticipantExecutive’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. (iib) For purposes of this provision, the Participant Executive shall be considered to be a “specified employee” if, at the time of his or her separation from service, the Participant Executive is a “key employee”, ,” within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom the Company would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise.