Common use of Six Month Limitation Clause in Contracts

Six Month Limitation. Notwithstanding any provision of this Agreement to the contrary, distribution of any amounts that constitute “deferred compensation” payable to the Executive due to his “separation from service” within the meaning of Section 409A of the Code, shall not be made before six months after such separation from service or the Executive’s death, if earlier (the “Six Month Limitation”). At the end of such six-month period, payments that would have been made but for the Six Month Limitation shall be paid in a lump sum, without interest, on the first day of the seventh month following the Executive’s separation from service and remaining payments or reimbursements, if any, shall commence, or continue, in accordance with the relevant provision of this Section 5. Notwithstanding the Six Month Limitation, in the event that any amounts of “deferred compensation” payable to the Executive due to his “separation from service” constitute “separation pay only upon an involuntary separation from service” within the meaning of Section 409A of the Code (“Separation Pay”), then all or a portion of such Separation Pay, up to two times the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the separation from service occurs (i.e., $460,000 in the event of a separation from service during 2008), whether paid under this Agreement or otherwise, may be paid to the Executive during the six-month period following such separation from service with the Corporation.

Six Month Limitation. Notwithstanding any provision of this Agreement to the contrary, distribution of any amounts that constitute “deferred compensation” payable to the Executive due to his her “separation from service” within the meaning of Section 409A of the Code, shall not be made before six months after such separation from service or the Executive’s death, if earlier (the “Six Month Limitation”). At the end of such six-month period, payments that would have been made but for the Six Month Limitation shall be paid in a lump sum, without interest, on the first day of the seventh month following the Executive’s separation from service and remaining payments or reimbursements, if any, shall commence, or continue, in accordance with the relevant provision of this Section 5. Notwithstanding the Six Month Limitation, in the event that any amounts of “deferred compensation” payable to the Executive due to his her “separation from service” constitute “separation pay only upon an involuntary separation from service” within the meaning of Section 409A of the Code (“Separation Pay”), then all or a portion of such Separation Pay, up to two times the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the separation from service occurs (i.e., $460,000 in the event of a separation from service during 2008), whether paid under this Agreement or otherwise, may be paid to the Executive during the six-month period following such separation from service with the Corporation.

Six Month Limitation. Notwithstanding any provision of this the Agreement to the contrary, distribution of any amounts that constitute “deferred compensation” payable to the Executive XxXxx due to his “separation from service” within the meaning of Section 409A of the Code, shall not be made before six months after such separation from service or the Executive’s XxXxx’x death, if earlier (the “Six Month Limitation”). At the end of such six-month period, payments that would have been made but for the Six Month Limitation shall be paid in a lump sum, without interest, on the first day of the seventh month following the Executive’s XxXxx’x separation from service and remaining payments or reimbursements, if any, shall commence, or continue, in accordance with the relevant provision of this Section 59. Notwithstanding the Six Month Limitation, in the event that any amounts of “deferred compensation” payable to the Executive XxXxx due to his “separation from service” constitute “separation pay only upon an involuntary separation from service” within the meaning of Section 409A of the Code (“Separation Pay”), then all or a portion of such Separation Pay, up to two times the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the separation from service occurs (i.e., $460,000 in the event of a separation from service during 2008), whether paid under this Agreement or otherwise, may be paid to the Executive XxXxx during the six-month period following such separation from service with the CorporationTerex.