Common use of Deferred Compensation Units Clause in Contracts

Deferred Compensation Units. Notwithstanding anything to the contrary herein, if any Restricted Stock Units hereunder are considered nonqualified deferred compensation under Section 409A (“Deferred Compensation Units”), to the extent that any such Deferred Compensation Units become vested in accordance with the terms of the Plan or this Restricted Stock Unit Agreement, such Deferred Compensation Units shall be payable at the time that they would otherwise have been payable without regard to the occurrence of a Change in Control solely to the extent required to avoid the imposition of additional taxes and penalties under Section 409A.

Appears in 5 contracts

Sources: Restricted Stock Unit Agreement (Krispy Kreme, Inc.), Restricted Stock Unit Agreement (Krispy Kreme, Inc.), Restricted Stock Unit Agreement (Krispy Kreme, Inc.)