Common use of Payment Delay Clause in Contracts

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to Section 10 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (A) no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (B) if Executive, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, shall not be provided to Executive prior to the earlier of (x) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, (y) the date of the Executive’s death or (z) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive Employee pursuant to Section 10 8 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless ExecutiveEmployee’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), (ii) if any of the amounts described in Sections 8(a)(i)-(ii) or 8(c)(i)-(ii) above constitute non-qualified deferred compensation subject to Section 409A of the Code then any such amounts that become payable hereunder shall in all cases be paid in two installment payments pursuant to the terms described in the last paragraph of Section 8(a), provided that the first lump-sum payment shall be paid on the 60th day following Employee’s Separation from Service subject to clause (iii) of this Section 9(a) and (Biii) if ExecutiveEmployee, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive Employee pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the ExecutiveEmployee’s termination benefits described in Section 10, 8 shall not be provided to Executive Employee prior to the earlier of (xA) the expiration of the six-month period measured from the date of the ExecutiveEmployee’s Separation from Service, (yB) the date of the ExecutiveEmployee’s death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive Employee within 30 thirty (30) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive Employee is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive the Employee pursuant to Section 10 8 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executivethe Employee’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (Bii) if Executivethe Employee, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive the Employee pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the ExecutiveEmployee’s termination benefits described in Section 10, 8 shall not be provided to Executive the Employee prior to the earlier of (xA) the expiration of the six-month period measured from the date of the ExecutiveEmployee’s Separation from Service, (yB) the date of the ExecutiveEmployee’s death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive the Employee within 30 thirty (30) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive the Employee is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrarycontrary in this Agreement, to the extent any payments to Executive pursuant to Section 10 this Agreement are treated as non-qualified deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), then (Ai) to the extent required by Section 409A of the Code, no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation Separation from service” with the Company Service (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”below), and (Bii) if Executive, Executive is deemed at the time of his her Separation from Service, is determined by the Company Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and Code, then to the Company determines that extent delayed commencement of any portion of the termination benefits payable to which Executive pursuant to is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencementCode, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-six (6) month period measured from the date of the Executive’s Separation from Service, Service or (yB) the date of the Executive’s death or (z) such earlier date as is permitted under Section 409A. death. Upon the expiration earlier of the applicable Code Section 409A(a)(2)(B)(i) deferral periodsuch dates, all payments deferred pursuant to a Payment Delay this Section 6(f) shall be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided hereinExecutive. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his her Separation from Service shall made by the Company Corporation in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Treas. Reg. Section 1.409A-1(i) and any successor provision thereto). For purposes of this Agreement, a “Separation from Service” shall mean Executive’s “separation from service” with the Corporation as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto.

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive the Employee pursuant to Section 10 8 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executive’s the Employee's termination of employment constitutes a “"separation from service” " with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “"Separation from Service”"), and (Bii) if Executivethe Employee, at the time of his Separation from Service, is determined by the Company to be a “"specified employee” " for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive the Employee pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “"Payment Delay”"), then such portion of the Executive’s Employee's termination benefits described in Section 10, 8 shall not be provided to Executive the Employee prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Employee's Separation from Service, (yB) the date of the Executive’s Employee's death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive the Employee within 30 thirty (30) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive the Employee is a “"specified employee” " for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to If the contrary, to the extent any payments to Executive pursuant to Section 10 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (A) no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (B) if Executive, deemed at the time of his Separation from Service, is determined by the Company termination of employment to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and (as determined by the Company determines that in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including, without limitation, Section 1.409A-1(i) of the Department of Treasury Regulations and any successor provision thereto)), to the extent delayed commencement of any portion of the termination benefits payable to which the Executive is entitled under this Agreement (or in accordance with an award granted to Executive pursuant to this Agreement the Prior Agreement), including, without limitation, any portion of the additional compensation awarded pursuant to Section 6, is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, shall not be provided to the Executive prior to the earlier of (xI) the expiration of the six-month period measured from the date of the Executive’s Separation “separation from Service, service” with the Company (yas such term is defined in the Department of Treasury Regulations issued under Section 409A of the Code) or (II) the date of the Executive’s death or (z) such earlier date as is permitted under Section 409A. death. Upon the expiration earlier of the applicable Code Section 409A(a)(2)(B)(i) deferral periodsuch dates, all payments deferred delayed pursuant to a Payment Delay this Section 6(d) shall be paid in a lump sum to Executive within 30 days following such expirationthe Executive, and any remaining payments due under this Agreement (or in accordance with an award granted to Executive pursuant to the Agreement Prior Agreement) shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto)its terms.”

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to Section 10 3 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (Bii) if Executive, at the time of his her Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, 3 shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, (yB) the date of the Executive’s death death, or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his her Separation from Service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive Employee pursuant to Section 10 5(a) are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless ExecutiveEmployee’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (Bii) if ExecutiveEmployee, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive Employee pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the ExecutiveEmployee’s termination benefits described in Section 10, 5(a) shall not be provided to Executive Employee prior to the earlier of (xA) the expiration of the six-month period measured from the date of the ExecutiveEmployee’s Separation from Service, (yB) the date of the ExecutiveEmployee’s death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive Employee within 30 thirty (30) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive Employee is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to Section 10 8 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executive’s 's termination of employment constitutes a “'separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), (ii) if any of the amounts described in Sections 8(a)(i)-(ii) above constitute non-qualified deferred compensation subject to Section 409A of the Code then any such amounts that become payable hereunder shall in all cases be paid in two installment payments pursuant to the terms described in the last paragraph of Section 8(a), provided that the first lump-sure payment shall be paid on the 60th day following Executive's Separation from Service subject to clause (iii) of this Section 9(a) and (Biii) if Executive, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i409A(a)(2)(B)(1) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s 's termination benefits described in Section 10, 8 shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s 's Separation from Service, (yB) the date of the Executive’s 's death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 thirty (30) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).. 9

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to the Executive pursuant to Section 10 3 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless the Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (Bii) if the Executive, at the time of his her Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to the Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, 3 shall not be provided to the Executive prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, (yB) the date of the Executive’s death death, or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the this Agreement shall be paid as otherwise provided herein. The determination of whether the Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his her Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive the Employee pursuant to Section 10 8 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executivethe Employee’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), (ii) if any of the amounts described in Sections 8(a)(i)-(ii) or 8(c)(i)-(ii) above constitute non-qualified deferred compensation subject to Section 409A of the Code then any such amounts that become payable hereunder shall in all cases be paid in two installment payments pursuant to the terms described in the last paragraph of Section 8(a), provided that the first lump-sum payment shall be paid on the 60th day following Employee’s Separation from Service subject to clause (iii) of this Section 9(a) and (Biii) if Executivethe Employee, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive the Employee pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the ExecutiveEmployee’s termination benefits described in Section 10, 8 shall not be provided to Executive the Employee prior to the earlier of (xA) the expiration of the six-month period measured from the date of the ExecutiveEmployee’s Separation from Service, (yB) the date of the ExecutiveEmployee’s death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive the Employee within 30 thirty (30) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive the Employee is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to Section 10 Sections 6, 7, 9 or 11 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (Bii) if Executive, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 106, 7, 9 or 11, as the case may be, shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, (yB) the date of the Executive’s death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to Section 10 8 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “’separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), (ii) if any of the amounts described in Sections 8(a) (i)-(ii) above constitute non-qualified deferred compensation subject to Section 409A of the Code then any such amounts that become payable hereunder shall in all cases be paid in two installment payments pursuant to the terms described in the last paragraph of Section 8(a), provided that the first lump- sure payment shall be paid on the 60th day following Executive’s Separation from Service subject to clause (iii) of this Section 9(a) and (Biii) if Executive, at the time of his Separation from Service, is determined by the Company to be a “specified employeeExecutive” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i409A(a)(2)(B)(1) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, 8 shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, (yB) the date of the Executive’s death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 thirty (30) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employeeExecutive” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to this Section 10 4 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no such amount shall be payable pursuant to such section this Section 4 unless Executive’s termination of employment constitutes a “separation from service” with the Company (Company, as such term is defined in Treasury Regulation Section § 1.409A-1(h) and or any successor provision thereto) thereto (a “Separation from Service”), and (Bii) if Executive, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in this Section 10, 4 shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-six (6) month period measured from the date of the Executive’s Separation from Service, (yB) the date of the Executive’s death or (zC) such earlier date as is permitted under Section 409A. 409A of the Code. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 10 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and or any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to Section 10 3 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (Bii) if Executive, at the time of his Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, 3 shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, (yB) the date of the Executive’s death death, or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments of the Termination Compensation that has become payable to Executive Executive, pursuant to Section 10 are 5 or Section 6 above, is treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no such amount shall be payable pursuant to such section unless Section 5 or Section 6, as applicable, if (i) Executive’s termination of employment constitutes a “separation from service” with the Company (Company, as such term is defined in Treasury Regulation Section § 1.409A-1(h) and or any successor provision thereto) thereto (a “Separation from Service”), and (Bii) if Executivethe Company determines, at the time of his Executive’s Separation from Service, Service that he is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of the payment of any portion or all of the termination benefits payable Termination Compensation to Executive pursuant to this Agreement by reason of such Separation from Service, is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then then, such portion of the Executive’s termination benefits described in Section 10, such Termination Compensation shall not be paid or provided to Executive prior to the earlier earliest of (xA) the expiration of the six-six (6) month period measured from the date of the Executive’s Separation from Service, (yB) the date of the Executive’s death or (zC) such earlier date as is permitted under Section 409A. 409A of the Code. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 10 days following such expiration, without interest, and any then remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and or any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to Section 10 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (A) no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (B) if ExecutiveIf, at the time of his Executive’s Separation from Service, is determined by the Company to be determines that Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement Deferred Payments is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such that portion of the Executive’s termination benefits described in Section 10, shall Deferred Payments will not be provided to Executive prior to until the earlier of (xi) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, (yii) the date of the Executive’s death death, or (ziii) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments Deferred Payments deferred pursuant to a under the Payment Delay shall will be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the this Agreement shall will be paid as otherwise provided hereinin this Agreement. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of at the time of his Executive’s Separation from Service shall will be made by the Company Company, in its discretion, in accordance with the terms Section 409A (including, without limitation, Treasury Regulations Section 1.409A-1(i)). For purposes of Section 409A (including, without limitation, for purposes of Treasury Regulations Section 1.409A-2(b)(2)(iii)), Executive’s right to receive the Code payments under this Agreement, including the severance payments and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) benefits, will be treated as a right to receive a series of separate payments and, accordingly, each installment payment will at all times be considered a separate and any successor provision thereto).distinct payment. ​

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive Employee pursuant to Section 10 8 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executive’s Employee's termination of employment constitutes a “"'separation from service” " with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “"Separation from Service”"), (ii) if any of the amounts described in Sections 8(a)(i)-(ii) above constitute non-qualified deferred compensation subject to Section 409A of the Code then any such amounts that become payable hereunder shall in all cases be paid in two installment payments pursuant to the terms described in the last paragraph of Section 8(a), provided that the first lump-sure payment shall be paid on the 60th day following Employee's Separation from Service subject to clause (iii) of this Section 9(a) and (Biii) if ExecutiveEmployee, at the time of his Separation from Service, is determined by the Company to be a “"specified employee” " for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive Employee pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i409A(a)(2)(B)(1) of the Code (any such delayed commencement, a “"Payment Delay”"), then such portion of the Executive’s Employee's termination benefits described in Section 10, 8 shall not be provided to Executive Employee prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Employee's Separation from Service, (yB) the date of the Executive’s Employee's death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive Employee within 30 thirty (30) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive Employee is a “"specified employee” " for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall be made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrary, to the extent any payments to Executive pursuant to Section 10 4.1 are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (Ai) no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (Bii) if Executive, at the time of his her Separation from Service, is determined by the Company to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, 4.1 shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, (yB) the date of the Executive’s death or (zC) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his her Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein in this Agreement to the contrary, to the extent any payments to Executive you pursuant to Section 10 1 of Part Two are treated as non-qualified deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), then (A) no amount shall be payable pursuant to such section unless Executive’s your termination of employment constitutes a “separation from service” with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”), and (B) if Executiveyou, at the time of his your Separation from Service, is are determined by the Company to be a “specified employeeExecutive” for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to Executive you pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment Delay”), then such portion of the Executive’s your termination benefits described in Section 101 of Part Two, shall not be provided to Executive you prior to the earlier of (x) the expiration of the six-month period measured from the date of the Executive’s your Separation from Service, (y) the date of the Executive’s your death or (z) such earlier date as is permitted under Section 409A. Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to Executive you within 30 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. The determination of whether Executive is you are a “specified employeeExecutive” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his your Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).

Payment Delay. Notwithstanding anything herein to the contrarycontrary in this Agreement, to the extent any payments to Executive pursuant to Section 10 this Agreement are treated as non-qualified deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), then (Ai) to the extent required by Section 409A of the Code, no amount shall be payable pursuant to such section unless Executive’s termination of employment constitutes a “separation Separation from service” with the Company Service (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a “Separation from Service”below), and (Bii) if Executive, Executive is deemed at the time of his Separation from Service, is determined by the Company Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and Code, then to the Company determines that extent delayed commencement of any portion of the termination benefits payable to which Executive pursuant to is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencementCode, a “Payment Delay”), then such portion of the Executive’s termination benefits described in Section 10, shall not be provided to Executive prior to the earlier of (xA) the expiration of the six-month period measured from the date of the Executive’s Separation from Service, Service or (yB) the date of the Executive’s death or (z) such earlier date as is permitted under Section 409A. death. Upon the expiration earlier of the applicable Code Section 409A(a)(2)(B)(i) deferral periodsuch dates, all payments deferred pursuant to a Payment Delay this Section 17(a) shall be paid in a lump sum to Executive within 30 days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided hereinExecutive. The determination of whether Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his Separation from Service shall made by the Company Corporation in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Treas. Reg. Section 1.409A-1(i) and any successor provision thereto). For purposes of this Agreement, a “Separation from Service” shall mean Executive’s “separation from service” with the Corporation as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto.