Common use of Six-Month Delay Rule Clause in Contracts

Six-Month Delay Rule. The “six-month delay rule” will apply to 000X XXXx if these four conditions are met: (A) the Grantee has a separation from service (within the meaning of Treasury Regulation § 1.409A-1(h)) for a reason other than death; (B) a payment in settlement is triggered by such separation from service; and (C) the Grantee is a “specified employee” under Code Section 409A. If it applies, the six-month delay rule will delay a settlement of 000X XXXx triggered by separation from service where the settlement otherwise would occur within six months after the separation from service, subject to the following: (D) any delayed payment shall be made on the date six months and one day after separation from service; (E) during the six-month delay period, accelerated settlement will be permitted in the event of the Grantee’s death and for no other reason (including no acceleration upon a Change in Control) except to the extent permitted under Code Section 409A; and (F) any settlement that is not triggered by a separation from service, or is triggered by a separation from service but would be made more than six months after separation (without applying this six-month delay rule), shall be unaffected by the six-month delay rule.

Six-Month Delay Rule. The “"six-month delay rule” " will apply to 000X XXXx 409A RSUs if these four conditions are met: (A) the Grantee has a separation from service (within the meaning of Treasury Regulation § 1.409A-1(h)) for a reason other than death; (B) a payment in settlement is triggered by such separation from service; and (C) the Grantee is a “specified employee” under Code Section 409A. If it applies, the six-month delay rule will delay a settlement of 000X XXXx 409A RSUs triggered by separation from service where the settlement otherwise would occur within six months after the separation from service, subject to the following: (D) any delayed payment shall be made on the date six months and one day after separation from service; (E) during the six-month delay period, accelerated settlement will be permitted in the event of the Grantee’s death and for no other reason (including no acceleration upon a Change in Control) except to the extent permitted under Code Section 409A; and (F) any settlement that is not triggered by a separation from service, or is triggered by a separation from service but would be made more than six months after separation (without applying this six-month delay rule), shall be unaffected by the six-month delay rule.

Six-Month Delay Rule. The “six-month delay rule” will apply to 000X XXXx the 409A Bonus if these four conditions are met: (A) the Grantee has a separation from service (within the meaning of Treasury Regulation § 1.409A-1(h)) for a reason other than death; (B) a payment in settlement is triggered by such separation from service; and (C) the Grantee is a “specified employee” under Code Section 409A. If it applies, the six-month delay rule will delay a settlement payment of 000X XXXx the 409A Bonus triggered by separation from service where the settlement payment otherwise would occur within six months after the separation from service, subject to the following: (D) any delayed payment shall be made on the date six months and one day after separation from service; (E) during the six-month delay period, accelerated settlement payment will be permitted in the event of the Grantee’s death and for no other reason (including no acceleration upon a Change in Control) except to the extent permitted under Code Section 409A; and (F) any settlement payment that is not triggered by a separation from service, or is triggered by a separation from service but would be made more than six months after separation (without applying this six-month delay rule), shall be unaffected by the six-month delay rule.

Six-Month Delay Rule. The “"six-month delay rule” " will apply to 000X 400X XXXx if these four conditions are met: (A) the Grantee Employee has a separation from service (within the meaning of Treasury Regulation § 1.409A-1(h)) for a reason other than death;). (B) a payment in settlement A distribution of shares is triggered by such the separation from service; andservice (but not due to death). (C) the Grantee Employee is a “specified employee” under Code Section 409A. If it applies, the six-month delay rule will delay a distribution in settlement of 000X 400X XXXx triggered by separation from service where the settlement distribution otherwise would occur be within six months after the separation from service, subject to the following: (D) any Any delayed payment shall be made on the date six months and one day after separation from service;. (E) during During the six-month delay period, accelerated settlement distribution will be permitted in the event of the GranteeEmployee’s death and for no other reason (including no acceleration upon a Change in of Control) except to the extent permitted under Code Section 409A; and409A. (F) any settlement Any payment that is not triggered by a separation from service, or is triggered by a separation from service but would be made more than six months after separation (without applying this six-month delay rule), shall be unaffected by the six-month delay rule.

Six-Month Delay Rule. The “six-month delay rule” will apply to 000X XXXx if these four three conditions are met: (A) the Grantee Employee has a separation from service (within the meaning of Treasury Regulation § 1.409A-1(h)) for a reason other than death;). (B) a payment in settlement A distribution of shares is triggered by such the separation from service; andservice (but not due to death). (C) the Grantee Employee is a “specified employee” under Code Section 409A. Treasury Regulation § 1.409A-1(i). If it applies, the six-month delay rule will delay a distribution in settlement of 000X XXXx triggered by separation from service where the settlement distribution otherwise would occur be within six months after the separation from service, subject to the following: (D) any Any delayed payment shall be made on the date six months and one day after separation from service;. (E) during During the six-month delay period, accelerated settlement distribution will be permitted in the event of the GranteeEmployee’s death and for no other reason (including no acceleration upon a Change in of Control) except to the extent permitted under Code Section 409A; and409A. (F) any settlement Any payment that is not triggered by a separation from service, or is triggered by a separation from service but would be made more than six months after separation (without applying this six-month delay rule), shall be unaffected by the six-month delay rule.

Six-Month Delay Rule. The “"six-month delay rule” " will apply to 000X 400X XXXx if these four conditions are met: (A) the Grantee Employee has a separation from service (within the meaning of Treasury Regulation § 1.409A-1(h)) for a reason other than death;). (B) a payment in settlement A distribution of shares is triggered by such the separation from service; andservice (but not due to death). Distributions upon Termination due to disability or Termination not for Cause could be subject to this rule in some cases. (C) the Grantee Employee is a “specified key employee” under (as defined in Code Section 409A. 416(i) without regard to paragraph (5) thereof). The Company will determine status of “key employees” annually, under administrative procedures applicable to all Section 409A plans. (D) The Company’s stock is publicly traded on an established securities market or otherwise. If it applies, the six-month delay rule will delay a distribution in settlement of 000X 400X XXXx triggered by separation from service where the settlement distribution otherwise would occur be within six months after the separation from service, subject to the following: (DE) any Any delayed payment shall be made on the date six months and one day after separation from service;. (EF) during During the six-month delay period, accelerated settlement distribution will be permitted in the event of the GranteeEmployee’s death and for no other reason (including no acceleration upon a Change in Control) except to the extent permitted under Code Section 409A; and409A. (FG) any settlement Any payment that is not triggered by a separation from service, or is triggered by a separation from service but would be made more than six months after separation (without applying this six-month delay rule), shall be unaffected by the six-month delay rule.