Common use of Required Delay for Some Payments Clause in Contracts

Required Delay for Some Payments. Notwithstanding the payment date set forth in subparagraph (b) above, if the Executive is a “specified employee,” as defined in Treas. Reg. §1.409A-1(i) and any amendment thereof or successor thereto, on the date his termination of employment from the Trust occurs, his Post-2004 Account will not be paid to him under subparagraph (b) above during the first six months after his termination of employment, and will instead be paid to him on the first business day of the seventh calendar month following the calendar month of such termination of employment.

Required Delay for Some Payments. Notwithstanding the payment date set forth in subparagraph (b) above, if the Executive is a “specified employee,” as defined in Treas. Reg. §1.409A-1(i) (and any amendment thereof or successor thereto), on the date of his termination of employment from the Trust occursTrust, his Post-2004 Account will not be paid to him under subparagraph (b) above during the first six months after his termination of employment, and will instead be paid to him on the first business day of the seventh calendar month that is six months plus one day following the calendar month of such termination of employment.

Required Delay for Some Payments. Notwithstanding the payment date set forth in subparagraph (ba) above, if the Executive is a “specified employee,” as defined in Treas. Reg. §1.409A-1(i) and any amendment thereof or successor thereto, on the date his termination of employment from the Trust Company occurs, his Post-2004 Account account will not be paid to him under subparagraph (ba) above during the first six months after his termination of employment, and will instead be paid to him on the first business day of the seventh calendar month following the calendar month of such termination of employment.

Required Delay for Some Payments. Notwithstanding the payment date set forth in subparagraph subsection (b) above, if the Executive is a “specified employee,” as defined in Treas. Reg. §1.409A-1(i) and any amendment thereof or successor thereto, on the date his termination of employment from the Trust occurs, his Post-2004 Account will not be paid to him under subparagraph subsection (b) above during the first six months after his termination of employment, and will instead be paid to him on the first business day of the seventh calendar month following the calendar month of such termination of employment.