Common use of Section 409A Delay in Payment Clause in Contracts

Section 409A Delay in Payment. Notwithstanding any other provision of this Exhibit A to the contrary, if Executive is a “specified employee” within the meaning of section 409A of the Code, payments and benefits that would otherwise be paid or provided during the six month period commencing on the Termination Date will be deferred until the first day of the seventh month following the Termination Date if such deferral is necessary to avoid the additional tax under section 409A of the Code. In the case of a series of payments, the first payment shall include the amounts Executive would have been entitled to receive during the six month waiting period. Any such determination shall be made in the reasonable judgment of the Company after consultation with Executive.