Common use of Compensation Upon Termination of Employment Clause in Contracts

Compensation Upon Termination of Employment. Separation pay shall be paid in accordance with the schedule set forth below upon a termination of employment that constitutes a "separation from service" as defined under Section 409A ("Separation from Service"). If a termination of employment does not constitute a Separation from Service, separation pay shall be paid at such later time that a Separation from Service occurs. For purposes of this Agreement, the default definition of Separation from Service under the Final Regulations promulgated under Section 409A shall be employed.

Compensation Upon Termination of Employment. Separation pay shall be paid in accordance with the schedule set forth below upon a termination of employment that constitutes a "“separation from service" ” as defined under Section 409A ("“Separation from Service"”). If a termination of employment does not constitute a Separation from Service, separation pay shall be paid at such later time that a Separation from Service occurs. For purposes of this Agreement, the default definition of Separation from Service under the Final Regulations promulgated under Section 409A shall be employed.