Common use of Six-Month Wait for Key Employees Under Separation from Service Clause in Contracts

Six-Month Wait for Key Employees Under Separation from Service. To the extent any amount payable under this Agreement constitutes amounts payable under a “nonqualified deferred compensation plan” (as defined in Code Section 409A) following a “separation from service” (as defined in Code Section 409A), including any amount payable under Sections 9 or 11 of this Agreement, then, notwithstanding any other provision in this Agreement to the contrary, such payment will not be made until the date that is six months following the Executive’s “separation from service,” but only if the Executive is then deemed to be a “specified employee” under Code Section 409A as of the date he “separates from service”.

Six-Month Wait for Key Employees Under Separation from Service. To the extent any amount payable under this Agreement constitutes amounts payable under a “nonqualified deferred compensation plan” (as defined in Code Section 409A) following a “separation from service” (as defined in Code Section 409A), including any amount payable under Sections 9 or 11 of this AgreementAgreement or Section 8 of Appendix A, then, notwithstanding any other provision in this Agreement to the contrary, such payment will not be made until the date that is six months following the Executive’s “separation from service,” but only if the Executive is then deemed to be a “specified employee” under Code Section 409A as of the date he “separates from service”.409A.

Six-Month Wait for Key Employees Under Separation from Service. To the extent any amount payable under this Agreement constitutes amounts payable under a “nonqualified deferred compensation plan” (as defined in Code Section 409A) following a “separation from service” (as defined in Code Section 409A), including any amount payable under Sections Section 9 or 11 of this Agreement, then, notwithstanding any other provision in this Agreement to the contrary, such payment will not be made until the date that is six months following the Executive’s “separation from service,” but only if the Executive is then deemed to be a “specified employee” under Code Section 409A as of the date he “separates from service”.