Six-Month Delay Rule. The “six-month delay rule” will apply to 000X XXXx if these four conditions are met:
Six-Month Delay Rule. The "six-month delay rule" will apply to 409A RSUs if these four conditions are met:
Six-Month Delay Rule. Notwithstanding anything to the contrary contained in this Agreement, for each payment under this Agreement (a) if the Associate is a specified employee at the time of the Associate’s Termination, then, in accordance with the six-month delay rule, the payment date of such payment shall be delayed (if there would be a delay) to the date that is six months after the date of Termination or, if earlier, the date that is the seventh (7th) day following the Associate’s date of death, but (b) the foregoing delay shall be inapplicable to such payment to the extent such payment is excluded from the six-month delay rule by virtue any of the exceptions described under Treas. Reg. § 1.409A-1(b) (including without limitation any of the separation pay plan exceptions set forth in Treas. Reg. § 1.409A-1(b)(9)), or is otherwise excluded under Code section 409A from the application of the six-month delay rule requirements.
Six-Month Delay Rule. If, as of his termination date, Executive is a “specified employee” (as determined by the Company in accordance with its guidelines established pursuant to Treas. Reg. § 1.409A-1(i)), any amount payable to Executive upon or by reason of his termination of employment (including expense reimbursements and in-kind benefits that are includible in income) shall be subject to the six (6) month delay required by Section 409A(a)(2)(B)(i) of the Code; provided, however, that such six (6) month delay shall not be required with respect to any payment that the Company determines is not subject to Section 409A by reason of the “short-term deferral” rule described in Treas. Reg. § 1.409A-1(b)(4), the “two-year, two-time” rule described in Treas. Reg. § 1.409A-1(b)(9)(iii), or any other exemption. If payment of any amount is delayed by reason of this six (6) month delay, such amount shall be paid with interest on the Company’s first pay date for the seventh (7th) month that starts after Executive’s termination date (or, if earlier, within 90 days after Executive’s death). Except as otherwise provided in a governing document for an applicable benefit plan, program, or other arrangement, interest shall be calculated using the prime rate of interest in effect at Bank of America, N.A. (or another bank designated by the Company that is one of its principal banks) on Executive’s termination date.
Six-Month Delay Rule. To the maximum extent permitted under Section 409A of the Code, the benefits payable under this Agreement are intended to comply with the “short-term deferral exception” under Treas. Reg. §1.409A-1(b)(4), and any remaining amount is intended to comply with the “separation pay exception” under Treas. Reg. §1.409A-1(b)(9)(iii); provided, Res-Care, Inc. DBA BrightSpring Health Services 000 X. Xxxxxxxxxxx Parkway Louisville, KY 40222 (000) 000-0000 xxx.XxxxxxXxxxxxXxxxxx.xxx however, if any amount payable to Executive during the six (6) month period following Executive’s separation from service does not qualify within either of the foregoing exceptions and constitutes deferred compensation subject to the requirements of Section 409A of the Code, then such amount(s) shall hereinafter be referred to as the “Excess Amount.” If at the time of Executive’s separation from service, the Company’s (or any entity required to be aggregated with the Company under Section 409A of the Code) stock is publicly-traded on an established securities market or otherwise and Executive is a “specified employee” (as defined in Section 409A of the Code), then the Company shall postpone the commencement of the payment of the portion of the Excess Amount that is payable within the six (6) month period following Executive’s separation from service with the Company for six (6) months following Executive’s separation from service with the Company. The delayed Excess Amount shall be paid in a lump sum to Executive on the first day following the date that is six (6) months following Executive’s separation from service with the Company. If Executive dies during such six (6) month period and prior to the payment of the portion of the Excess Amount that is required to be delayed on account of Section 409A of the Code, such Excess Amount shall be paid to the personal representative of Executive’s estate on the day after Executive’s death. Any remaining payments not so delayed shall continue to be paid pursuant to the payment schedule set forth herein.
Six-Month Delay Rule. The “six-month delay rule” will apply to 409A Restricted Stock Units if the following four conditions exist:
Six-Month Delay Rule. The “six-month delay rule” will apply to the 409A Bonus if these four conditions are met:
Six-Month Delay Rule. The “six-month delay rule” will apply to the Performance Share Units if the following four conditions exist:
Six-Month Delay Rule. If, as of the effective date of Executive’s termination of employment, Executive is a “specified employee,” as determined by the Company in accordance with Code Section 409A(a)(2)(B)(i) and the guidelines established pursuant to Treasury regulation §1.409A-1(i), any amount payable to Executive upon or by reason of a termination of employment that constitutes a “deferral of compensation” within the meaning of Code Section 409A shall be subject to a six (6) month delay as required by Code Section 409A(a)(2)(B)(i); provided, however, that such six (6) month delay shall not be required with respect to any payment (or portion thereof) that the Company determines is not governed by Code Section 409A by reason of Section 25(a), Section 25(b) or any other exemption. If a payment of any amount is delayed by reason of this six (6) month delay, such amount or amounts shall be paid, without interest, on the Company’s first payroll date in the seventh (7th) month that starts after the effective date of Executive’s termination of employment (or, if earlier, within ninety (90) days after Executive’s death on a date determined by the Company in its sole discretion).
Six-Month Delay Rule
