Common use of Plan Terminations Under Section 409A Clause in Contracts

Plan Terminations Under Section 409A. Notwithstanding anything to the contrary in this Agreement, the Company may make distributions under certain circumstances following Plan termination under this Section 7.3. Any such distribution shall be made according to the rules set forth in the regulations promulgated under Section 409A of the Code, and shall conform to the following requirements: (a) Within 30 days before, or 12 months after a Change in Control (b) Upon the Company’s dissolution or with the approval of a bankruptcy court; or (c) Upon the Company’s termination of this and all similar plans with respect to all participants, provided (1) that all distributions are made no earlier than 12 months and no later than 24 months following such termination; (2) the Company does not adopt any new similar plans for a minimum of 5 years following the date of such termination; and (3) no payments, other than those payments that would otherwise have been payable under the terms of the arrangement if the termination had not occurred, are made pursuant to this provision.

Plan Terminations Under Section 409A. Notwithstanding anything to the contrary in this Agreement, the Company may make distributions under certain circumstances following Plan termination under this Section 7.3. Any such distribution shall be made according to the rules set forth in the regulations promulgated under Section 409A of the Code, and shall conform to the following requirements: (a) Within 30 days before, or 12 months after a Change in Control (b) Upon the Company’s dissolution or with the approval of a bankruptcy court; or (c) Upon the Company’s termination of this and all similar plans with respect to all participants, provided (1) that all distributions are made no earlier than 12 months and no later than 24 months following such termination; (2) the Company does not adopt any new similar plans for a minimum of 5 years following the date of such termination; and (3) no payments, other than those payments that would otherwise have been payable under the terms of the arrangement if the termination had not occurred, are made pursuant to this provision.. Article 8