Six-Month Distribution Delay for Specified Employees. Notwithstanding anything in this Agreement to the contrary, in the event that the Executive is a “specified employee” (as defined in Section 409A of the Code) of the Company, determined pursuant to the Company’s policy for identifying specified employees, on the date of the Executive’s Termination, no payment on account of the Executive’s Termination shall be made until the first (1st) day of the seventh (7th) month following the date of Termination (or, if earlier, the date of the Executive’s death). The cumulative amount paid on such day shall include any payments that could not be made during such period.
Appears in 5 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Sb Financial Group, Inc.), Retirement Plan Agreement (Sb Financial Group, Inc.), Retirement Plan Agreement (Sb Financial Group, Inc.)
Six-Month Distribution Delay for Specified Employees. Notwithstanding anything in this Agreement to the contrary, in the event that the Executive is a “specified employee” (as defined in Section 409A of the Code) of the CompanyCorporation, determined pursuant to the CompanyCorporation’s policy for identifying specified employees, on the date of the Executive’s his Termination, no payment on account of the Executive’s Termination shall be made until the first (1st) day of the seventh (7th) month following the date of Termination (or, if earlier, the date of the Executive’s his death). The cumulative amount paid on such day shall include any payments that could not be made during such period.
Appears in 4 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Rurban Financial Corp), Change of Control Agreement (Rurban Financial Corp), Supplemental Executive Retirement Plan Agreement (Rurban Financial Corp)
Six-Month Distribution Delay for Specified Employees. Notwithstanding anything in this Agreement to the contrary, in the event that the Executive is a “specified employee” (as defined in Section 409A of the Code) of the Company, determined pursuant to the Company’s policy for identifying specified employees, on the date of the Executive’s Termination, no payment on account of the Executive’s Termination shall be made until the first (1st) day of the seventh (7th) month following the date of Termination (or, if earlier, the date of the Executive’s death). The cumulative amount paid on such day shall include any payments that could not be made during such period.. Xxxxx change in control agreement October 11, 2017
Appears in 1 contract
