Common use of Six-Month Delay Clause in Contracts

Six-Month Delay. Notwithstanding any provision of this Agreement to the contrary, if, at the time of Employee’s termination of employment with Employer, he is a “specified employee” as defined in Section 409A, and one or more of the payments or benefits received or to be received by Employee upon such termination pursuant to this Agreement would constitute deferred compensation subject to Section 409A, no such payment or benefit will be provided under this Agreement until the earlier of (a) the date that is six (6) months following Employee’s termination of employment with Employer and (b) Employee’s death. The provisions of this Section 21 shall apply only to the extent required to avoid Employee’s incurrence of any penalty tax or interest under Section 409A.

Six-Month Delay. Notwithstanding any provision of this Agreement to the contrary, if, at the time of Employee’s termination of employment with Employer, he is a “specified employee” as defined in Section 409A409A of the Code, and one or more of the payments or benefits received or to be received by Employee upon such termination pursuant to this Agreement would constitute deferred compensation subject to Section 409A409A of the Code, no such payment or benefit will be provided under this Agreement until the earlier of (a) the date that is six (6) months following Employee’s termination of employment with Employer and Employer, or (b) the Employee’s death. The provisions of this Section 21 22 shall only apply only to the extent required to avoid Employee’s incurrence of any penalty tax or interest under Section 409A.409A of the Code or any Treasury Regulations and other guidance issued thereunder

Six-Month Delay. Notwithstanding any provision of this Agreement to the contrary, if, at the time of Employee’s termination of employment with Employer, he is a “specified employee” as defined in Section 409A409A of the Code, and one or more of the payments or benefits received or to be received by Employee upon such termination pursuant to this Agreement would constitute deferred compensation subject to Section 409A409A of the Code, no such payment or benefit will be provided under this Agreement until the earlier of (a) the date that is six (6) months following Employee’s termination of employment with Employer and Employer, or (b) the Employee’s death. The provisions of this Section 21 shall only apply only to the extent required to avoid Employee’s incurrence of any penalty tax or interest under Section 409A.409A of the Code or any Treasury Regulations and other guidance issued thereunder

Six-Month Delay. Notwithstanding any provision of this Agreement to the contrary, if, at the time of Employee’s termination of employment with Employer, he is a “specified employee” as defined in Section 409A409A of the Code, and one or more of the payments or benefits received or to be received by Employee upon such termination pursuant to this Agreement would constitute deferred compensation subject to Section 409A409A of the Code, no such payment or benefit will be provided under this Agreement until the earlier of (a) the date that is six (6) months following Employee’s termination of employment with Employer and Employer, or (b) Employee’s death. The provisions of this Section 21 18 shall only apply only to the extent required to avoid Employee’s incurrence of any penalty tax or interest under Section 409A.409A of the Code or any Treasury Regulations and other guidance issued thereunder.

Six-Month Delay. Notwithstanding any provision of this Agreement to the contrary, if, at the time of Employee’s termination of employment with Employer, he is a “specified employee” as defined in Section 409A409A of the Code, and one or more of the payments or benefits received or to be received by Employee upon such termination pursuant to this Agreement would constitute deferred compensation subject to Section 409A409A of the Code, no such payment or benefit will be provided under this Agreement until the earlier of (a) the date that is six (6) months following Employee’s termination of employment with Employer and Employer, or (b) the Employee’s death. The provisions of this Section 21 shall only apply only to the extent required to avoid Employee’s incurrence of any penalty tax or interest under Section 409A.409A of the Code or any Treasury Regulations and other guidance issued thereunder.