Common use of The Specified Employee Rule Clause in Contracts

The Specified Employee Rule. To the extent any amount payable under this Agreement represents a payment under a “nonqualified deferred compensation plan” (as defined in Section 409A of the Code following a termination of employment or any “separation from service” as defined in Section 409A(a)(2)(A)(i) of the Code), then, notwithstanding any other provision of this Agreement to the contrary, such payment shall be delayed and made on the first day of the seventh (7th) month following Employee’s “separation from service,” but only if the Employee is deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code.

The Specified Employee Rule. To the extent any amount payable under this Agreement represents a payment under a “nonqualified deferred compensation plan” (as defined in Section 409A of the Code following a termination of employment or any “separation from service” as defined in Section 409A(a)(2)(A)(i) of the Code), then, notwithstanding any other provision of this Agreement to the contrary, such payment shall be delayed and made on the first day of the seventh (7th) month following EmployeeExecutive’s “separation from service,” but only if the Employee Executive is deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code.