Common use of Restriction on Timing of Distribution Clause in Contracts

Restriction on Timing of Distribution. Solely to the extent necessary to avoid penalties under Section 409A, distributions under this Agreement may not commence earlier than six (6) months after a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Code Section 409A, Executive hereto is considered a “specified employee,” as defined under 409A. In the event a distribution is delayed pursuant to this Section, the originally scheduled distribution shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Service. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement to Executive may not commence earlier than six (6) months after the date of a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Section 409A of the Code Section 409Aand regulations and guidance promulgated thereunder, Executive hereto is considered a “specified employee,” as defined under 409A. Section 416(i) of the Code. In the event a distribution is delayed pursuant to this SectionSection 2.6, the originally scheduled distribution payment shall be delayed for six (6) 6 months, and shall commence instead on the first day of the seventh month following Separation from Servicethe delay. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement to Executive may not commence earlier than six (6) months after the date of a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Code Section 409A, Executive hereto is considered a “specified employee,” as defined under 409A. Internal Revenue Code Section 416(i). In the event a distribution is delayed pursuant to this SectionSection 2.6, the originally scheduled distribution shall be delayed for six (6) 6 months, and shall commence instead on the first day of the seventh month following Separation from Service. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement to Executive may not commence earlier than six (6) months after the date of a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Section 409A of the Code Section 409Aand regulations and guidance promulgated there under, Executive hereto is considered a “"specified employee,” as defined " under 409A. Section 416(i) of the Code. In the event a distribution is delayed pursuant to this SectionSection 2.6, the originally scheduled distribution payment shall be delayed for six (6) 6 months, and shall commence instead on the first day of the seventh month following Separation from Servicethe delay. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely to the extent necessary to avoid penalties under Section 409A, distributions under this Agreement may not commence earlier than six (6) months after a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Code Section 409A, the Executive hereto is considered a “specified employee,” as defined under 409A. of a publicly-traded company. In the event a distribution is delayed pursuant to this Section, the originally scheduled distribution shall be delayed for six (6) months, months and shall commence instead on the first day of the seventh month following Separation from Service. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement to the Executive may not commence earlier than six (6) months after the date of a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue §409A of the Code Section 409Aand regulations and guidance promulgated thereunder, the Executive hereto is considered a “specified employee,” as defined under 409A. §416(i) of the Code. In the event a distribution is delayed pursuant to this Sectionparagraph, the originally scheduled distribution payment shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Servicethe delay. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement to the Executive may not commence earlier than six (6) months after the date of a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Section 409A of the Code Section 409Aand regulations and guidance promulgated thereunder, the Executive hereto is considered a “specified employee,” as defined under 409A. Section 416(i) of the Code. In the event a distribution is delayed pursuant to this Sectionparagraph, the originally scheduled distribution payment shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Servicethe delay. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement to the Executive may not commence earlier than six (6) months after the date of a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Section 409A of the Code Section 409Aand regulations and guidance promulgated thereunder, the Executive hereto is considered a “"specified employee,” as defined " under 409A. Section 416(i) of the Code. In the event a distribution is delayed pursuant to this Sectionparagraph, the originally scheduled distribution payment shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Servicethe delay. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely to the extent necessary to avoid penalties under Section 409A409A of the Code, distributions under this Agreement may not commence earlier than six (6) months after a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Code Section 409A, Executive the participant hereto is considered a “specified employee,” as defined under 409A. of a publicly-traded company. In the event a distribution is delayed pursuant to this Section, the originally scheduled distribution shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Service. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely to the extent necessary to avoid penalties under Section 409A, distributions under this Agreement may not commence earlier than six (6) months after a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Code Section 409A, Executive the participant hereto is considered a “specified employee,” as defined under 409A. of a publicly-traded company. In the event a distribution is delayed pursuant to this Section, the originally scheduled distribution shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Service. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.. The First, A National Banking Association Supplemental Executive Retirement Agreement

Restriction on Timing of Distribution. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement to the Executive may not commence earlier than six (6) months after the date of a Separation from form Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Section 409A of the Code Section 409Aand regulations and guidance promulgated thereunder, the Executive hereto is considered a “"specified employee,” as defined " under 409A. Section 416(i) of the Code. In the event a distribution is delayed pursuant to this Sectionparagraph, the originally scheduled distribution payment shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Servicethe delay. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely to the extent necessary to avoid penalties under Section 409A, distributions under this Agreement may not commence earlier than six (6) months after a Separation from form Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Code Section 409A, Executive the participant hereto is considered a “specified employee,” as defined under 409A. of a publicly-traded company. In the event a distribution is delayed pursuant to this Section, the originally scheduled distribution shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Service. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.

Restriction on Timing of Distribution. Solely to the extent necessary to avoid penalties under Section 409A, distributions under this Agreement may not commence earlier than six (6) months after a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue Code Section 409A, Executive the participant hereto is considered a “specified employee,” as defined under 409A. of a publicly-traded company. In the event a distribution is delayed pursuant to this Section, the originally scheduled distribution shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Service. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.. The First, a National Banking Association Supplemental Executive Retirement Agreement

Restriction on Timing of Distribution. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement to .the Executive may not commence earlier than six (6) months after the date of a Separation from Service (as described under the “Separation from Service” provision herein) if, pursuant to Internal Revenue §409A of the Code Section 409Aand regulations and guidance promulgated thereunder, the Executive hereto is considered a “specified employee,” as defined under 409A. §416(i) of the Code. In the event a distribution is delayed pursuant to this Sectionparagraph, the originally scheduled distribution payment shall be delayed for six (6) months, and shall commence instead on the first day of the seventh month following Separation from Servicethe delay. If payments are scheduled to be made in installments, the first six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first day of the seventh month, after which all installment payments shall be made on their regular schedule. If payment is scheduled to be made in a lump sum, the lump sum payment shall be delayed for six (6) months and instead be made on the first day of the seventh month.