Common use of Severance Payment Date Clause in Contracts

Severance Payment Date. For purposes of the Agreement, the “Severance Payment Date” shall mean with respect to a particular payment a date not more than five days following your Date of Termination; provided, however, that if you are a “specified employee” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the Severance Payment Date with respect to such payment shall be the date that is the six-month anniversary of your Date of Termination to the extent such delay is necessary to avoid penalties and interest under Section 409A. Your right to terminate your employment pursuant to this Agreement for Good Reason shall not be affected by your incapacity due to physical or mental illness. Your continued employment shall not be deemed or construed to constitute your consent to, or waiver of rights with respect to, any circumstance constituting Good Reason hereunder.

Severance Payment Date. For purposes of the Agreement, the “Severance Payment Date” shall mean with respect to a particular payment a date not more than five days following your Date of Termination; provided, however, that if you are a “specified employee” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the Severance Payment Date with respect to such payment shall be the date that is the six-month anniversary of your Date of Termination to the extent such delay is necessary to avoid tax penalties and interest under Section 409A. Your right to terminate your employment pursuant to this Agreement for Good Reason shall not be affected by your incapacity due to physical or mental illnessimpairment. Your continued employment shall not be deemed or construed to constitute your consent to, or waiver of rights with respect to, any circumstance constituting Good Reason hereunder, subject to the requirements of Subsection 5(c) hereof.

Severance Payment Date. For purposes of the Agreement, the “Severance Payment Date” shall mean with respect to a particular payment a date not more than five days following your Date of Termination; provided, however, that if you are a “specified employee” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the Severance Payment Date with respect to such payment shall be the date that is the six-month anniversary of your Date of Termination to the extent such delay is necessary to avoid tax penalties and interest under Section 409A. Your right to terminate your employment pursuant to this Agreement for Good Reason shall not be affected by your incapacity due to physical or mental illnessimpairment. Your continued employment shall not be deemed or construed to constitute your consent to, or waiver of rights with respect to, any circumstance constituting Good Reason hereunder, subject to the requirements of Subsection 5(b) hereof.