Common use of Separate Welfare Benefits Payments Clause in Contracts

Separate Welfare Benefits Payments. If payable, the Welfare Benefits Payments shall be payable as a lump sum on the 60th day following termination of employment, to the maximum extent possible, under the short-term deferral rule set forth in Treasury Regulation § 1.409A-1(b)(4) and, to the extent such amounts are not payable as a short-term deferral, such amounts shall be payable instead under the “two-years/two-times” exclusion from Section 409A under Treasury Regulation § 1.409A-1(b)(9)(iii), up to the applicable limits of that exclusion and, to the extent such payment is not covered by the “two-years/two-times” exclusion, such amounts shall be deemed to be deferred compensation under Section 409A and shall be subject to the six-month delay rule set forth in Section 3.5.2, if applicable.

Separate Welfare Benefits Payments. If payable, the Welfare Benefits Payments shall be payable as a lump sum on the 60th day following termination of employment, to the maximum extent possible, under the short-term deferral rule set forth in Treasury Regulation § 1.409A-1(b)(4) and, to the extent such amounts are not payable as a short-term deferral, such amounts shall be payable instead under the “two-years/two-times” exclusion from Section 409A under Treasury Regulation § 1.409A-1(b)(9)(iii), up to the applicable limits of that exclusion and, to the extent such payment is not covered by the “two-years/two-times” exclusion, such amounts shall be deemed to be deferred compensation under Section 409A and shall be subject to the six-month delay rule set forth in Section 3.5.23.6.2, if applicable.

Separate Welfare Benefits Payments. If payable, the Welfare Benefits Payments shall be deemed to be separate payments from the payments under Section 3.3.1(b) equal to the cost of life and disability insurance benefits and payments, to the maximum extent permissible under Section 409A. These amounts shall be payable as a lump sum on the 60th day following termination of employment, to the maximum extent possible, under the short-term deferral rule set forth in Treasury Regulation § 1.409A-1(b)(4) and, to the extent such amounts are not payable as a short-term deferral, such amounts shall be payable instead under the “two-years/two-times” exclusion from Section 409A under Treasury Regulation § 1.409A-1(b)(9)(iii), up to the applicable limits of that exclusion and, to the extent such payment is not covered by the “two-years/two-times” exclusion, such amounts shall be deemed to be deferred compensation under Section 409A and shall be subject to the six-month delay rule set forth in Section 3.5.2, if applicable.

Separate Welfare Benefits Payments. If payable, the Welfare Benefits Payments shall be payable as a lump sum on the 60th 60 th day following termination of employment, to the maximum extent possible, under the short-term deferral rule set forth in Treasury Regulation § 1.409A-1(b)(4) and, to the extent such amounts are not payable as a short-term deferral, such amounts shall be payable instead under the “two-years/two-times” exclusion from Section 409A under Treasury Regulation § 1.409A-1(b)(9)(iii), up to the applicable limits of that exclusion and, to the extent such payment is not covered by the “two-years/two-times” exclusion, such amounts shall be deemed to be deferred compensation under Section 409A and shall be subject to the six-month delay rule set forth in Section 3.5.23.6.2, if applicable.

Separate Welfare Benefits Payments. If payable, the Welfare Benefits Payments shall be deemed to be separate payments from the payments under Section 3.3.1(b) equal to the cost of life and disability insurance benefits and payments, to the maximum extent permissible under Section 409A. These amounts shall be payable as a lump sum on the 60th day following termination of employment, to the maximum extent possible, under the short-term deferral rule set forth in Treasury Regulation § 1.409A-1(b)(4) and, to the extent such amounts are not payable as a short-term deferral, such amounts shall be payable instead under the “two-years/two-times” exclusion from Section 409A under Treasury Regulation § 1.409A-1(b)(9)(iii), up to the applicable limits of that exclusion and, to the extent such payment is not covered by the “two-years/two-times” exclusion, such amounts shall be deemed to be deferred compensation under Section 409A and shall be subject to the six-month delay rule set forth in Section 3.5.23.6.2, if applicable.

Separate Welfare Benefits Payments. If payable, the Welfare Benefits Payments shall be deemed to be separate payments from the payments under Section 3.3.1(b) equal to the cost of life and disability insurance benefits and payments, to the maximum extent permissible under Section 409A. These amounts shall be payable as a lump sum on the 60th day following termination of employment, to the maximum extent possible, under the short-term deferral rule set forth in Treasury Regulation § 1.409A-1(b)(4) and, to the extent such amounts are not payable as a short-term deferral, such amounts shall be payable instead under the “"two-years/two-times” " exclusion from Section 409A under Treasury Regulation § 1.409A-1(b)(9)(iii), up to the applicable limits of that exclusion and, to the extent such payment is not covered by the “"two-years/two-times” " exclusion, such amounts shall be deemed to be deferred compensation under Section 409A and shall be subject to the six-month delay rule set forth in Section 3.5.23.6.2, if applicable.