Common use of Payment Delay Clause in Contracts

Payment Delay. Notwithstanding any provision in this Agreement to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments otherwise payable pursuant to this Agreement as a result of such separation from service to prevent any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments hereunder (without any reduction in such payments ultimately paid or provided to the Executive) that are not otherwise exempt from section 409A of the Code, until the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.

Payment Delay. Notwithstanding any provision in this Agreement anything herein to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments or benefits otherwise payable pursuant to under this Agreement as a result of such Executive’s “separation from service service” with the Company to prevent the imposition of any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise exempt from paid within the “short-term deferral exception” under Treas. Reg. section 409A of 1.409A-1(b)(4) and the Code“separation pay exception” under Treas. Reg. section 1.409A- 1(b)(9)(iii), until the first payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service of service” with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid to Executive in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service of service” with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.

Payment Delay. Notwithstanding any provision in this Agreement anything herein to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments or benefits otherwise payable pursuant to under this Agreement as a result of such Employee’s “separation from service service” with the Company to prevent the imposition of any accelerated or additional tax under section Section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the ExecutiveEmployee) that are not otherwise exempt from section 409A of paid within the Code“short-term deferral exception” under Treas. Reg. Section 1.409A-1(b)(4) and the “separation pay exception” under Treas. Reg. Section 1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is six (6) months following the ExecutiveEmployee’s “separation from service of service” with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid to Employee in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the ExecutiveEmployee’s “separation from service of service” with the Company. If the Executive Employee dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section Section 409A of the Code shall be paid to the personal representative of the ExecutiveEmployee’s estate within sixty (60) days after the date of the ExecutiveEmployee’s death.

Payment Delay. Notwithstanding any provision in this Agreement to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments otherwise payable pursuant to this Agreement as a result of such separation from service to prevent any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments hereunder (without any reduction in such payments ultimately paid or provided to the Executive) that are not otherwise exempt from section 409A of the Code, until the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.

Payment Delay. Notwithstanding any provision in this Agreement anything herein to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments or benefits otherwise payable pursuant to under this Employment Agreement as a result of such Executive’s “separation from service service” with the Company to prevent the imposition of any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise exempt from paid within the “short-term deferral exception” under Treas. Reg. section 409A of 1.409A-1(b)(4) and the Code“separation pay exception” under Treas. Reg. section 1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service of service” with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid to Executive in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service of service” with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.

Payment Delay. Notwithstanding any provision in this Agreement anything herein to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments or benefits otherwise payable pursuant to under this Agreement as a result of such Employee’s “separation from service service” with the Company to prevent the imposition of any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the ExecutiveEmployee) that are not otherwise exempt from paid within the “short-term deferral exception” under Treas. Reg. section 409A of 1.409A-1(b)(4) and the Code“separation pay exception” under Treas. Reg. section 1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is six (6) months following the ExecutiveEmployee’s “separation from service of service” with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid to Employee in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the ExecutiveEmployee’s “separation from service of service” with the Company. If the Executive Employee dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the ExecutiveEmployee’s estate within sixty (60) days after the date of the ExecutiveEmployee’s death.

Payment Delay. Notwithstanding any provision in this Agreement to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section Section 409A of the Code) and it is necessary to postpone the commencement of any severance payments otherwise payable pursuant to this Agreement as a result of such separation from service termination of employment to prevent any accelerated or additional tax under section Section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise exempt from section paid within the short-term deferral exception under Section 409A of the CodeCode and are in excess of the lesser of two times (i) Executive’s then-annual compensation or (ii) the limit on compensation then set forth in Section 401(a)(17) of the code, until the first payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service service” with the CompanyCompany (as defined under Section 409A of the Code). If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service service” with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section Section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) 60 days after the date of the Executive’s death.

Payment Delay. Notwithstanding any provision in this Agreement anything herein to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments or benefits otherwise payable pursuant to under this Agreement as a result of such Employee’s “separation from service service” with the Company to prevent the imposition of any accelerated or additional tax under section Section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the ExecutiveEmployee) that are not otherwise exempt from section 409A of paid within the Code“short-term deferral exception” under Treas. Reg. Section 1.409A-1(b)(4) and the “separation pay exception” under ▇▇▇▇▇. Reg. Section 1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is six (6) months following the ExecutiveEmployee’s “separation from service of service” with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid to Employee in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the ExecutiveEmployee’s “separation from service of service” with the Company. If the Executive Employee dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section Section 409A of the Code shall be paid to the personal representative of the ExecutiveEmployee’s estate within sixty (60) days after the date of the ExecutiveEmployee’s death.

Payment Delay. Notwithstanding any provision in this Agreement to the contrary, if at the time of the Executive’s “separation from service of service” (as such term is defined under code section 409A of the Code) with the Company, the Company has securities which are publicly publicly-traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments or benefits otherwise payable pursuant to under this Agreement as a result of such separation from service to prevent any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise exempt from paid within the “short- term deferral exception” under Treas. Reg. section 409A of 1.409A-1(b)(4), and the Code“separation pay exception” under Treas. Reg. section 1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.

Payment Delay. Notwithstanding any provision in this Agreement to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments otherwise payable pursuant to this Agreement as a result of such separation from service to prevent any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments hereunder (without any reduction in such payments ultimately paid or provided to the Executive) that are not otherwise exempt from section 409A of the Code, until the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.. DB1/ 120506350.4

Payment Delay. Notwithstanding any provision in this Agreement to the contrary, if at the time of the Executive’s “separation from service of service” (as such term is defined under code section 409A of the Code) with the Company, the Company has securities which are publicly publicly-traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments or benefits otherwise payable pursuant to under this Agreement as a result of such separation from service to prevent any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise exempt from paid within the “short-term deferral exception” under Treas. Reg. section 409A of 1.409A-1(b)(4), and the Code“separation pay exception” under Treas. Reg. section 1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from of service with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.

Payment Delay. Notwithstanding any provision in this Agreement to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly publicly-traded on an established securities market and the Executive is a “specified employee” (as defined in section 409A of the Code) and it is necessary to postpone the commencement of any severance payments otherwise payable pursuant to this Agreement as a result of such separation from service to prevent any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise exempt from section 409A of the Code, until the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s separation from service with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) days after the date of the Executive’s death.

Payment Delay. Notwithstanding any provision in this Agreement to the contrary, if at the time of the Executive’s separation from service with the Company, the Company has securities which are publicly traded on an established securities market and the Executive is a “specified employee” (as defined in section Section 409A of the Code) and it is necessary to postpone the commencement of any severance payments otherwise payable pursuant to this Agreement as a result of such separation from service termination of employment to prevent any accelerated or additional tax under section Section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise exempt from section paid within the short-term deferral exception under Section 409A of the Code and are in excess of the lesser of two times (i) Executive’s then-annual compensation or (ii) the limit on compensation then set forth in Section 401(a)(17) of the Code, until the first payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service service” with the CompanyCompany (as defined under Section 409A of the Code). If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump sum to the Executive on the first payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service service” with the Company. If the Executive dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section Section 409A of the Code shall be paid to the personal representative of the Executive’s estate within sixty (60) 60 days after the date of the Executive’s death.