Common use of Specified Employees Clause in Contracts

Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if any payment or benefit provided to you in connection with your termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the your termination date or, if earlier, on your death (the "Specified Employee Payment Date"). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

Appears in 6 contracts

Samples: Cerner Executive Severance Agreement (CERNER Corp), Cerner Executive Severance Agreement (Cerner Corp /Mo/), Cerner Executive Severance Agreement (Cerner Corp /Mo/)

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Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if any payment or benefit provided to you Executive in connection with your his termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are Executive is determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the your termination date Termination Date or, if earlier, on your Executive's death (the "Specified Employee Payment Date"). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you Executive in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

Appears in 4 contracts

Samples: Employment Agreement (Flagstar Bancorp Inc), Employment Agreement (Flagstar Bancorp Inc), Employment Agreement (Flagstar Bancorp Inc)

Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if any payment or benefit provided to you Executive in connection with your Executive’s termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are Executive is determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the your termination date Termination Date or, if earlier, on your Executive's death (the "Specified Employee Payment Date"). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you Executive in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

Appears in 4 contracts

Samples: Employment Agreement (Widepoint Corp), Employment Agreement (Widepoint Corp), Employment Agreement (Widepoint Corp)

Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if any payment or benefit provided to you Executive in connection with your his termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are Executive is determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall will not be paid until the first payroll date to occur following the six-month anniversary of the your termination date or, if earlier, on your Executive’s death (the "Specified Employee Payment Date"). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall is to be paid to you Executive in a lump sum on the Specified Employee Payment Date and thereafterDate. Thereafter, any remaining payments shall must be paid without delay in accordance with their the original schedule.

Appears in 3 contracts

Samples: Executive Employment Agreement (CNB Financial Corp/Pa), Executive Employment Agreement (CNB Financial Corp/Pa), Executive Employment Agreement (CNB Financial Corp/Pa)

Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if any payment or benefit provided to you Executive in connection with your his termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are Executive is determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the your termination date Termination Date or, if earlier, on your Executive’s death (the "Specified Employee Payment Date"). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you Executive in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

Appears in 2 contracts

Samples: Employment Agreement (New York Community Bancorp Inc), Employment Agreement (New York Community Bancorp Inc)

Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if any payment or benefit provided to you Executive in connection with your Executive’s termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are Executive is determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the your termination date Termination Date or, if earlier, on your the Executive’s death (the "Specified Employee Payment Date"). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you Executive in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

Appears in 2 contracts

Samples: Employment Agreement (Flewber Global Inc.), Employment Agreement (Flewber Global Inc.)

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Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if any payment or benefit provided to you in connection with your termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the your termination date or, if earlier, on your death (the "Specified Employee Payment Date"). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

Appears in 1 contract

Samples: Cerner Executive Employment Agreement (Cerner Corp /Mo/)

Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if any payment or benefit provided to you in connection with your termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the your termination date or, if earlier, on your death (the "Specified Employee Payment Date"). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

Appears in 1 contract

Samples: Cerner Executive Severance Agreement (CERNER Corp)

Specified Employees. Notwithstanding any other provision of this Executive Severance Agreement, if If any payment or benefit provided to you the Executive in connection with your his termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are the Executive is determined to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the your termination date Termination Date or, if earlier, on your the Executive's death (the "Specified Employee Payment Date"). The aggregate amount of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you the Executive in a lump sum on the Specified Employee Payment Date (without interest) and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

Appears in 1 contract

Samples: Employment Agreement (Electro Scientific Industries Inc)

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