Common use of Six-Month Delayed Payment to “Specified Employees Clause in Contracts

Six-Month Delayed Payment to “Specified Employees. In the case of any Grantee who is entitled to payment hereunder because of a separation from service (as such term is defined under Section 409A the Internal Revenue Code of 1986, as amended (the “Code”)) from the Company which is subject to Code § 409A and, at the time of such separation from service, is a “specified employee,” as determined by the Company in compliance with Code § 409A and the Company’s written policy regarding the identification of specified employees, if any, then in effect (which policy is incorporated herein by reference), then no payment shall be made, except as permitted under Code § 409A, prior to the first day of the calendar month beginning seven (7) months after the Grantee’s separation from service (or the date of his or her earlier death), or as soon as administratively practicable thereafter.

Six-Month Delayed Payment to “Specified Employees. In the case of any Grantee who is entitled to payment hereunder because of a separation from service (as such term is defined under Section 409A the Internal Revenue Code of 1986, as amended (the “Code”)§ 409A) from the Company which is subject to Code § 409A and, at the time of such separation from service, is a “specified employee,” as determined by the Company in compliance with Code § 409A and the Company’s written policy regarding the identification of specified employees, if any, then in effect (which policy is incorporated herein by reference), then no payment shall be made, except as permitted under Code § 409A, prior to the first day of the calendar month beginning seven (7) months after the Grantee’s separation from service (or the date of his or her earlier death), or as soon as administratively practicable thereafter.

Six-Month Delayed Payment to “Specified Employees. In the case of any Grantee who is entitled to payment hereunder because of a separation from service (as such term is defined under Section 409A the Internal Revenue Code of 1986, as amended (the “Code”)section 409A) from the Company which is subject to Code § section 409A and, at the time of such separation from service, is a “"specified employee,” " as determined by the Company in compliance with Code § section 409A and the Company’s 's written policy regarding the identification of specified employees, if any, then in effect (which policy is incorporated herein by reference), then no payment shall be made, except as permitted under Code § section 409A, prior to the first day of the calendar month beginning seven (7) months after the Grantee’s 's separation from service (or the date of his or her earlier death), or as soon as administratively practicable thereafter.

Six-Month Delayed Payment to “Specified Employees. In the case of any Grantee who is entitled to payment hereunder because of a separation from service (as such term is defined under Section 409A the Internal Revenue Code of 1986, as amended (the “Code”)§ 409A) from the Company which is subject to Code § 409A and, at the time of such separation from service, is a “specified employee,” as determined by the Company in compliance with Code § 409A and the Company’s 's written policy regarding the identification of specified employees, if any, then in effect (which policy is incorporated herein by reference), then no payment shall be made, except as permitted under Code § 409A, prior to the first day of the calendar month beginning seven (7) months after the Grantee’s 's separation from service (or the date of his or her earlier death), or as soon as administratively practicable thereafter.