Common use of Release Effective Date Clause in Contracts

Release Effective Date. To the extent the amounts described in Sections 4(f) and 4(g) of this Agreement constitute “non-qualified deferred compensation” that is subject to Section 409A, (i) to the extent Officer’s termination of employment with the Company occurs on or after November 2 of any calendar year, no amounts shall be paid pursuant to Sections 4(f) and 4(g) of this Agreement until the calendar year following the year in which the Termination Date occurs, (ii) to the extent any payments are delayed pursuant to this Section 6(b), such delayed amounts shall be paid in a lump-sum promptly following the later of the date that the release can no longer be revoked and January 1 of the calendar year following the calendar year in which the Termination Date occurred, and (iii) all payments due after the payment made pursuant to clause (iv) of this sentence shall be made at the time prescribed in Sections 4(f) and (g) of this Agreement.