Common use of No Section 409A Involuntary Separation; Not A Specified Employee Clause in Contracts

No Section 409A Involuntary Separation; Not A Specified Employee. If the amount payable under this paragraph 5(c) does not qualify as separation pay due to involuntary separation from service within the meaning of Treasury Regulation section 1.409A-1(b)(9)(iii), and if, at the time of separation from service, Executive is not a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) and the Treasury Regulations, the lump sum shall be paid on or before the 30th day after Executive separates from the service of Employer as defined in Section 409A(a)(2)(A) and the Treasury Regulations. Employer, and not Executive, shall determine the date of payment.

No Section 409A Involuntary Separation; Not A Specified Employee. If the amount payable under this paragraph 5(c) does not qualify as separation pay due to involuntary separation from service within the meaning of Treasury Regulation section 1.409A-1(b)(9)(iii), and if, at the time of separation from service, Executive is not a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) and the Treasury Regulations, the lump sum shall be paid and the shares of common stock, if any, shall be issued on or before the 30th day after Executive separates from the service of Employer as defined in Section 409A(a)(2)(A) and the Treasury Regulations. Employer, and not Executive, shall determine the date of payment.