Common use of Payment and Distribution Clause in Contracts

Payment and Distribution. Except as provided below with respect to certain early termination events, the Company shall make the Bonus Payments in accordance with the Company’s normal payroll practices for the payroll period that includes the Bonus Payment Date. Notwithstanding the foregoing or the early termination payment provisions below, if the Executive is a “specified employee” under Section 409A of the Code, then any amounts payable pursuant to this Agreement shall be paid on the day following the six month anniversary of the Executive’s termination of employment.