Common use of No Section 409A Involuntary Separation; Specified Employee Clause in Contracts

No Section 409A Involuntary Separation; 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 a "specified employee," the lump sum shall be paid on the earliest date on which payment may be made under Section 409A(a)(2)(B)(i) (the six month delay rule for specified employees) after Executive separates from the service of Employer as defined in Section 409A(a)(2)(A)(i) and the Treasury Regulations.

No Section 409A Involuntary Separation; 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 a "specified employee," the lump sum shall be paid and the shares of common stock, if any, shall be issued on the earliest date on which payment may be made under Section 409A(a)(2)(B)(i) (the six month delay rule for specified employees) after Executive separates from the service of Employer as defined in Section 409A(a)(2)(A)(i) and the Treasury Regulations.