Common use of Restriction on Timing of Distributions Clause in Contracts

Restriction on Timing of Distributions. 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” 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 Distributions. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement 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 409Asection 409A of the Code, the Executive hereto is considered a “Specified Employeespecified employee” (defined in section 1.409A-1(i) of a publicly-the Treasury Regulations) of the Employer if any stock of the Employer is publicly traded companyon an established securities market or otherwise. 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 (1st) day of the seventh (7th) month following the Executive’s Separation from Service. If payments are scheduled to be made in installments, the first (1st) six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first (1st) day of the seventh (7th) 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 (1st) day of the seventh (7th) month.

Restriction on Timing of Distributions. 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” 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.. PLUMAS BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

Restriction on Timing of Distributions. Solely Notwithstanding anything to the contrary contained herein and 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” 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 Distributions. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement 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 409Asection 409A of the Code, the Executive hereto is considered a “Specified Employeespecified employee” (defined in section 1.409A-1(i) of a publicly-the Treasury Regulations) of the Employer if any stock of the Employer is publicly traded companyon an established securities market or otherwise. 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 (1st) day of the seventh month following the Executive’s Separation from Service. If payments are scheduled to be made in installments, the first (1st) six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first (1st) day of the seventh (7th) 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 (1st) day of the seventh (7th) month.

Restriction on Timing of Distributions. 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 defined below) (or, if earlier, the “Separation from Service” provision hereindate of death of Executive) if, pursuant to Internal Revenue Code Section 409A, the as may be amended from time to time (“Section 409A”), Executive hereto is considered a “Specified Employeespecified employee” (under Internal Revenue Code Section 416(i)) of a publicly-Bank if any stock of Bank or Company is publicly traded companyon an established securities market, or otherwise. In the event a distribution is delayed pursuant to this SectionSection 5.13, 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, 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 Distributions. Solely Notwithstanding any provision of this Agreement to the extent necessary to avoid penalties under Section 409Acontrary, distributions under this Agreement 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 409Asection 409A of the Code, the Executive hereto is considered a “Specified Employeespecified employee” (defined in section 1.409A- l (i) of a publicly-the Treasury Regulations) of the Employer if any stock of the Employer is publicly traded companyon an established securities market or otherwise. 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 (1st) day of the seventh (7th) month following the Executive’s Separation from Service. If payments are scheduled to be made in installments, the first (1st) six (6) months of installment payments shall be delayed, aggregated, and paid instead on the first (1st) day of the seventh (7th) 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 (1st) day of the seventh (7th) month.