Common use of Restriction on Timing of Distribution Clause in Contracts

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "specified employee" under Section 409A of the Code and regulations thereunder, benefit distributions that qualify as a "separation from service" under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "specified employee" Specified Employee at Separation from Service under such procedures as established by the Bank in accordance with Section 409A of the Code and regulations thereunderCode, benefit distributions that qualify as a "separation are made upon Separation from service" under Section 409A of the Code and regulations thereunder Service may not commence earlier than six (6) months after the date of such separation Separation from serviceService. Therefore, in the event this Section 2.5 is applicable to the Executive, any distribution or series of distributions to be made due to a Separation from Service shall commence no earlier that the first day of the seventh month following the Separation from Service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "“specified employee" ” under Section 409A of the Code and regulations thereunder, benefit distributions that qualify as a "“separation from service" ” under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "“specified employee" ” under Section 409A of the Code and regulations thereunder at the time any benefit distributions otherwise would be payable upon a “separation from service,” as defined in Section 409A of the Code and regulations thereunder, such benefit distributions that qualify as a "separation from service" under Section 409A of shall be deferred and paid to the Code and regulations thereunder may not commence earlier than Executive six (6) months after the date of such separation from service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive Director is considered a "specified employee" under Section 409A of the Code and regulations thereunder, benefit distributions that qualify as a "separation from service" under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "specified employee" Specified Employee at Separation from Service under such procedures as established by the Corporation in accordance with Section 409A of the Code and regulations thereunderCode, benefit distributions that qualify as a "separation are made upon Separation from service" under Section 409A of the Code and regulations thereunder Service may not commence earlier than six (6) months after the date of such separation Separation from serviceService. Therefore, in the event this Section 2.5 is applicable to the Executive, any distribution or series of distributions to be made due to a Separation from Service shall commence no earlier that the first day of the seventh month following the Separation from Service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "“specified employee" ” under Section HOMEFEDERAL BANK Supplemental Executive Retirement Agreement 409A of the Code and regulations thereunder, benefit distributions that qualify as a "separation from service" under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.

Restriction on Timing of Distribution. Notwithstanding any provision of -------------------------------------- this Agreement to the contrary, if the Executive is considered a "specified employee" under Section 409A of the Code and regulations thereunder, benefit distributions that qualify as a "separation from service" under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "“specified employee" ” under Section 409A of the Code and regulations thereunder, benefit distributions that qualify as a "separation from service" under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive Director is considered a "“specified employee" ” under Section 409A of the Code and regulations thereunder, benefit distributions that qualify as a "“separation from service" ” under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "“specified employee" ” under Section 409A of the Code and regulations thereunder, benefit distributions that qualify as a "“separation from service" ” under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.. UNITED LABOR BANK, F.S.B. Executive Deferred Compensation Plan MASTER PLAN DOCUMENT

Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a "specified employee" Specified Employee under Section 409A of the Code and regulations thereunder, benefit distributions that qualify as a "“separation from service" ” under Section 409A of the Code and regulations thereunder may not commence earlier than six (6) months after the date of such separation from service.