Common use of Exemption from Code Section 409A Clause in Contracts

Exemption from Code Section 409A. The benefits under this Restricted Stock Unit Agreement are intended to be exempt from Code Section 409A as short-term deferrals and all provisions of this Restricted Stock Unit Agreement shall be interpreted in a manner to maintain such exemptions. To that end, subject to any delays allowed under Code Section 409A applicable to short-term deferrals, the shares of Common Stock underlying the Restricted Stock Units and Cash Dividend Equivalents shall be paid in all events within two and one-half (2½) months after the end of the later of the tax year (of the Employee, which is usually the calendar year) or the fiscal year (of the Company or subsidiary to which the Employee provides services) during which the Restricted Stock Units and Cash Dividend Equivalents are no longer subject to a substantial risk of forfeiture within the meaning of Code Section 409A.

Exemption from Code Section 409A. The benefits under this Restricted Stock Unit Agreement are intended to be exempt from Code Section 409A either as restricted stock or as a short-term deferrals deferral and all provisions of this Restricted Stock Unit Agreement shall be interpreted in a manner to maintain such exemptions. To that end, subject to any delays allowed under Code Section 409A applicable to short-term deferrals, the shares of Common Stock underlying the Restricted Stock Units and Cash Dividend Equivalents Dividends shall be paid in all events within two and one-half (2½) months after the end of the later of the tax year (of the Employee, which is usually the calendar year) or the fiscal year (of the Company or subsidiary to which the Employee provides services) during which the Restricted Stock Units and Cash Dividend Equivalents Dividends are no longer subject to a substantial risk of forfeiture within the meaning of Code Section 409A.