Common use of Timing of Payments Under Certain Circumstances Clause in Contracts

Timing of Payments Under Certain Circumstances. With respect to any amount that becomes payable to or for the benefit of Shaheen under this Agreement upon Shaheen’s Separation from Service (as defined below) for any reason, the provisions of this subsection (e) will apply, notwithstanding any other provision of this Agreement to the contrary. If the Company determines in good faith that Shaheen is a “specified employee” within the meaning of Section 409A of the Internal Revenue Code, any Treasury regulations promulgated thereunder and any guidance issued by the Internal Revenue Service relating thereto (collectively, “Code Section 409A”), then to the extent required under Code Section 409A, payment of any amount of deferred compensation that becomes payable to or for the benefit of Shaheen upon Separation from Service (other than by reason of the death of Shaheen) and that otherwise would be payable during the six-month period following Shaheen’s Separation from Service shall be suspended until the lapse of such six-month period (or, if earlier, the date of Shaheen’s death). A “Separation from Service” of Shaheen means Shaheen’s separation from service, as defined in Code Section 409A, with the Company and all other entities with which the Company would be considered a single employer under Internal Revenue Code Section 414(b) or (c), applying the 80% threshold used in such Internal Revenue Code Sections or any Treasury regulations promulgated thereunder. Any payment suspended as provided in this subsection (e), unadjusted for interest on such suspended payment, shall be paid to Shaheen in a single payment on the first business day following the end of such six-month period or within 30 days following the death of Shaheen, as applicable, provided that the death of Shaheen during such six-month period shall not cause the acceleration of any amount that otherwise would be payable on any date during such six-month period following the date of Shaheen’s death.

Timing of Payments Under Certain Circumstances. With respect to any amount that becomes payable to or for the benefit of Shaheen Brackpool under this Agreement upon ShaheenBrackpool’s Separation from Service (as defined below) for any reason, the provisions of this subsection (ef) will apply, notwithstanding any other provision of this Agreement to the contrary. If the Company determines in good faith that Shaheen Brackpool is a “specified employee” within the meaning of Section 409A of the Internal Revenue Code, any Treasury regulations promulgated thereunder and any guidance issued by the Internal Revenue Service relating thereto (collectively, “Code Section 409A”), then to the extent required under Code Section 409A, payment of any amount of deferred compensation that becomes payable to or for the benefit of Shaheen Brackpool upon Separation from Service (other than by reason of the death of ShaheenBrackpool) and that otherwise would be payable during the six-month period following ShaheenBrackpool’s Separation from Service shall be suspended until the lapse of such six-month period (or, if earlier, the date of ShaheenBrackpool’s death). A “Separation from Service” of Shaheen Brackpool means ShaheenBrackpool’s separation from service, as defined in Code Section 409A, with the Company and all other entities with which the Company would be considered a single employer under Internal Revenue Code Section 414(b) or (c), applying the 80% threshold used in such Internal Revenue Code Sections or any Treasury regulations promulgated thereunder. Any payment suspended as provided in this subsection (ef), unadjusted for interest on such suspended payment, shall be paid to Shaheen Brackpool in a single payment on the first business day following the end of such six-month period or within 30 days following the death of ShaheenBrackpool, as applicable, provided that the death of Shaheen Brackpool during such six-month period shall not cause the acceleration of any amount that otherwise would be payable on any date during such six-month period following the date of ShaheenBrackpool’s death.

Timing of Payments Under Certain Circumstances. With respect to any amount that becomes payable to or for the benefit of Shaheen Xxxxxxx under this Agreement upon Shaheen’s Xxxxxxx’x Separation from Service (as defined below) for any reason, the provisions of this subsection (e) will apply, notwithstanding any other provision of this Agreement to the contrary. If the Company determines in good faith that Shaheen Xxxxxxx is a “specified employee” within the meaning of Section 409A of the Internal Revenue Code, any Treasury regulations promulgated thereunder and any guidance issued by the Internal Revenue Service relating thereto (collectively, “Code Section 409A”), then to the extent required under Code Section 409A, payment of any amount of deferred compensation that becomes payable to or for the benefit of Shaheen Xxxxxxx upon Separation from Service (other than by reason of the death of ShaheenXxxxxxx) and that otherwise would be payable during the six-month period following Shaheen’s Xxxxxxx’x Separation from Service shall be suspended until the lapse of such six-month period (or, if earlier, the date of Shaheen’s Xxxxxxx’x death). A “Separation from Service” of Shaheen Xxxxxxx means Shaheen’s Xxxxxxx’x separation from service, as defined in Code Section 409A, with the Company and all other entities with which the Company would be considered a single employer under Internal Revenue Code Section 414(b) or (c), applying the 80% threshold used in such Internal Revenue Code Sections or any Treasury regulations promulgated thereunder. Any payment suspended as provided in this subsection (e), unadjusted for interest on such suspended payment, shall be paid to Shaheen Xxxxxxx in a single payment on the first business day following the end of such six-month period or within 30 days following the death of ShaheenXxxxxxx, as applicable, provided that the death of Shaheen Xxxxxxx during such six-month period shall not cause the acceleration of any amount that otherwise would be payable on any date during such six-month period following the date of Shaheen’s Xxxxxxx’x death.

Timing of Payments Under Certain Circumstances. With respect to any amount that becomes payable to or for the benefit of Shaheen under this Agreement upon Shaheen’s Separation from Service (as defined below) for any reason, the provisions of this subsection (ef) will apply, notwithstanding any other provision of this Agreement to the contrary. If the Company determines in good faith that Shaheen is a “specified employee” within the meaning of Section 409A of the Internal Revenue Code, any Treasury regulations promulgated thereunder and any guidance issued by the Internal Revenue Service relating thereto (collectively, “Code Section 409A”), then to the extent required under Code Section 409A, payment of any amount of deferred compensation that becomes payable to or for the benefit of Shaheen upon Separation from Service (other than by reason of the death of Shaheen) and that otherwise would be payable during the six-month period following Shaheen’s Separation from Service shall be suspended until the lapse of such six-month period (or, if earlier, the date of Shaheen’s death). A “Separation from Service” of Shaheen means Shaheen’s separation from service, as defined in Code Section 409A, with the Company and all other entities with which the Company would be considered a single employer under Internal Revenue Code Section 414(b) or (c), applying the 80% threshold used in such Internal Revenue Code Sections or any Treasury regulations promulgated thereunder. Any payment suspended as provided in this subsection (ef), unadjusted for interest on such suspended payment, shall be paid to Shaheen in a single payment on the first business day following the end of such six-month period or within 30 days following the death of Shaheen, as applicable, provided that the death of Shaheen during such six-month period shall not cause the acceleration of any amount that otherwise would be payable on any date during such six-month period following the date of Shaheen’s death.

Timing of Payments Under Certain Circumstances. With respect to any amount that becomes payable to or for the benefit of Shaheen Brackpool under this Agreement upon ShaheenBrackpool’s Separation from Service (as defined below) for any reason, the provisions of this subsection (e) will apply, notwithstanding any other provision of this Agreement to the contrary. If the Company determines in good faith that Shaheen Brackpool is a “specified employee” within the meaning of Section 409A of the Internal Revenue Code, any Treasury regulations promulgated thereunder and any guidance issued by the Internal Revenue Service relating thereto (collectively, “Code Section 409A”), then to the extent required under Code Section 409A, payment of any amount of deferred compensation that becomes payable to or for the benefit of Shaheen Brackpool upon Separation from Service (other than by reason of the death of ShaheenBrackpool) and that otherwise would be payable during the six-month period following ShaheenBrackpool’s Separation from Service shall be suspended until the lapse of such six-month period (or, if earlier, the date of ShaheenBrackpool’s death). A “Separation from Service” of Shaheen Brackpool means ShaheenBrackpool’s separation from service, as defined in Code Section 409A, with the Company and all other entities with which the Company would be considered a single employer under Internal Revenue Code Section 414(b) or (c), applying the 80% threshold used in such Internal Revenue Code Sections or any Treasury regulations promulgated thereunder. Any payment suspended as provided in this subsection (e), unadjusted for interest on such suspended payment, shall be paid to Shaheen Brackpool in a single payment on the first business day following the end of such six-month period or within 30 days following the death of ShaheenBrackpool, as applicable, provided that the death of Shaheen Brackpool during such six-month period shall not cause the acceleration of any amount that otherwise would be payable on any date during such six-month period following the date of ShaheenBrackpool’s death.