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

Six-Month Delay in Certain Circumstances. Notwithstanding any other provision of this Agreement, if Employee is a Specified Employee (as defined below) at the time of termination of employment, then, to the extent that payments and benefits under this Agreement constitute “deferred compensation” under Section 409A of the Code and are not eligible for any exemption thereunder (“Non-Exempt Deferred Compensation”), and payment of cash or provision of his benefits is pursuant to a termination of employment, then: (i) the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following Employee’s separation from service will be accumulated through and paid or provided on the first day of the seventh month following Employee’s separation from service (or, if Employee dies during such period, within 30 days after Employee’s death) (in either case, the “Required Delay Period”); and (ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period.

Six-Month Delay in Certain Circumstances. Notwithstanding In the event that, notwithstanding the clear language of the Agreement and the intent of the Company, any other provision of this Agreement, if Employee is a Specified Employee (as defined below) at the time of termination of employment, then, to the extent that payments and benefits amount or benefit under this Agreement constitute “deferred compensation” under Section 409A of the Code and are not eligible for any exemption thereunder (“constitutes Non-Exempt Deferred Compensation”), Compensation and payment is payable or distributable by reason of cash or provision of his benefits is pursuant to the Executive’s separation from service during a termination of employmentperiod in which the Executive qualifies as a “Specified Employee” under Code Section 409A, then, subject to any permissible acceleration of payment under Code Section 409A: (ia) the The amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following Employeethe Executive’s separation from service under the terms of this Agreement will be accumulated through and paid or provided on the first day of the seventh month following Employeethe Executive’s separation from service (or, if Employee the Executive dies during such period, within 30 days after Employeethe Executive’s death) (in either case, the “Required Delay Period”); and (iib) the The normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period.

Six-Month Delay in Certain Circumstances. Notwithstanding any other provision of anything in this AgreementAgreement to the contrary, if Employee is a Specified Employee (as defined below) at the time of termination of employment, then, to the extent any amount or benefit that payments and benefits under this Agreement would constitute “deferred compensation” under Section 409A of the Code and are not eligible for any exemption thereunder (“Non-Exempt Deferred Compensation”Compensation would otherwise be payable or distributable under this Agreement by reason of Employee’s separation from service during a period in which Employee is a “specified employee” (as defined in Section 409A), and payment of cash or provision of his benefits is pursuant to a termination of employment, then: : (i) the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following Employee’s separation from service will be accumulated through and paid or provided provided, without interest, on the first day of the seventh month following EmployeeExecutive’s separation from service (or, if Employee dies during such period, within 30 days after Employee’s death) (in either case, the “Required Delay Period”); and and (ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period.

Six-Month Delay in Certain Circumstances. Notwithstanding In the event that, notwithstanding the clear language of the Agreement and the intent of the Company, any other provision of this Agreement, if Employee is a Specified Employee (as defined below) at the time of termination of employment, then, to the extent that payments and benefits amount or benefit under this Agreement constitute “deferred compensation” under Section 409A of the Code and are not eligible for any exemption thereunder (“constitutes Non-Exempt Deferred Compensation”), Compensation and payment is payable or distributable by reason of cash or provision of his benefits is pursuant to the Executive’s separation from service during a termination of employmentperiod in which the Executive qualifies as a “Specified Employee” under Code Section 409A, then, subject to any permissible acceleration of payment under Code Section 409A: (ia) the The amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following Employeethe Executive’s separation from service under the terms of this Agreement will be accumulated through and paid or provided on the first day of the seventh month following Employeethe Executive’s separation from service (or, if Employee the Executive dies during such period, within 30 days after Employeethe Executive’s death) (in either case, the “Required Delay Period”); Period”); and (iib) the The normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period.

Six-Month Delay in Certain Circumstances. Notwithstanding any other provision of this Agreement, if Employee Executive is a Specified Employee (as defined below) at the time of termination of employment, then, to the extent that payments and benefits under this Agreement constitute “deferred compensation” under Section 409A of the Code and are not eligible for any exemption thereunder (“Non-Exempt Deferred Compensation”), and payment of cash or provision of his benefits is pursuant to a termination of employment, then: (i) the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following EmployeeExecutive’s separation from service will be accumulated through and paid or provided on the first day of the seventh month following EmployeeExecutive’s separation from service (or, if Employee Executive dies during such period, within 30 days after EmployeeExecutive’s death) (in either case, the “Required Delay Period”); and (ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period.

Six-Month Delay in Certain Circumstances. Notwithstanding In the event that, notwithstanding the clear language of the Agreement and the intent of the Company, any other provision of this Agreement, if Employee is a Specified Employee (as defined below) at the time of termination of employment, then, to the extent that payments and benefits amount or benefit under this Agreement constitute “deferred compensation” under Section 409A of the Code and are not eligible for any exemption thereunder (“constitutes Non-Exempt Deferred Compensation”), Compensation and payment is payable or distributable by reason of cash or provision of his benefits is pursuant to the Executive’s separation from service during a termination of employmentperiod in which the Executive qualifies as a “Specified Employee” under Code Section 409A, then, subject to any permissible acceleration of payment under Code Section 409A: (ia) the The amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following Employeethe Executive’s separation from service under the terms of this Agreement will be accumulated through and paid or provided on the first day of the seventh month {OR055187.DOCX; 3} following Employeethe Executive’s separation from service (or, if Employee the Executive dies during such period, within 30 days after Employeethe Executive’s death) (in either case, the “Required Delay Period”); Period”); and (iib) the The normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period.