Common use of Six-Month Delay in Certain Circumstances Clause in Contracts

Six-Month Delay in Certain Circumstances. Notwithstanding anything in this Agreement to the contrary, if the Severance Payments under Section 6(a)(ii) or the Prorata Bonus payment under Sections 6(b) or 6(d), or any other Termination Benefit, becomes payable or distributable under this Agreement by reason of Executive’s separation from service during a period in which he is a Specified Employee (as defined below), then, subject to any permissible acceleration of payment by the Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes), the amount of the Severance Payments or the Prorata Bonus or other Termination Benefit that would otherwise be payable during the six-month period immediately following Executive’s separation from service will be delayed until the earlier of (i) a date no later than 30 days following Executive’s death or (ii) the first day of the seventh month following Executive’s separation from service.