Common use of Timing of Termination Pay Clause in Contracts

Timing of Termination Pay. All Severance Pay and other payments due Executive hereunder shall be delivered no later than 15 days after the Termination Date, provided that if Executive is deemed to be a “key employee” for purposes of Internal Revenue Code Section 409A (“Code Section 409A”), such payments shall not be made to Executive by CRM until 6 months after the Termination Date if necessary to avoid incurring excise taxes under Code Section 409A.

Timing of Termination Pay. All Severance Pay and other payments due Executive hereunder shall be delivered no later than 15 fifteen (15) days after the Termination Date, provided that if Executive is deemed to be a “"key employee” " for purposes of Internal Revenue Code Section 409A (“Code Section "CODE SECTION 409A”"), such payments shall not be made to Executive by CRM until 6 six (6) months after the Termination Date if necessary to avoid incurring excise taxes under Code Section 409A.

Timing of Termination Pay. All Severance Pay and other payments due Executive hereunder shall be delivered no later than 15 days after the Termination Date, provided that if Executive executive is deemed to be a “"key employee” " for purposes of Internal Revenue Code Section 409A (“"Code Section 409A”"), such payments shall not be made to Executive by CRM until 6 months after the Termination Date if necessary to avoid incurring excise taxes under Code Section 409A.

Timing of Termination Pay. All Severance Pay and other payments due Executive hereunder shall be delivered no later than 15 days after the Termination Date, provided that if Executive is deemed to be a “"key employee” " for purposes of Internal Revenue Code Section 409A (“Code Section 'CODE SECTION 409A”"), such payments shall not be made to Executive by CRM until 6 months after the Termination Date if necessary to avoid incurring excise taxes under Code Section 409A.