Common use of Results of Termination by Company Clause in Contracts

Results of Termination by Company. Paragraph 5.4(ii) of the Agreement is hereby amended by adding the following to the end thereof: “The payments under this Section 5.4(ii) shall be in a lump sum on the first regular administrative payday for Company executives following the Executive’s “separation from service” within the meaning of Code Section 409A. In the event the Executive is a “specified employee within the meaning of Code Section 409A, amounts that would otherwise be payable under this Paragraph 5.4(ii) during the six-month period immediately following the Date of Termination shall instead be paid, with interest on any delayed payment at the applicable federal rate as provided for in Code Section 7872(f)(2)(A), on the first administrative payday for Company executives that is six months following the Executive’s “separation from service” within the meaning of Code Section 409A.”