Common use of Delay in Payment Clause in Contracts

Delay in Payment. If Executive is a “specified employee” (as such term is defined in Section 409A) at the time of Executive’s separation from service, any payments under this Agreement that would be considered to be deferred compensation (within the meaning of Treasury Regulation §1.409A-1(b)(1)) to which Executive would otherwise be entitled during the first six (6) months following Executive’s “separation from service” and payable as a result of such “separation from service” shall be deferred and accumulated for a period of six (6) months and paid in a lump sum on the first day of the seventh (7th) month following such separation from service (or, if earlier, the date of Executive’s death) (the “Delayed Payment Date”). On the Delayed Payment Date, there shall be paid to Executive (or if Executive has died, to Executive’s Successor defined below), in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, plus interest thereon at the Delayed Payment Interest Rate (as defined below) computed from the date on which each such delayed payment otherwise would have been made to Executive until the Delayed Payment Date. For purposes of the foregoing: (i) “Executive’s Successor” shall mean such payee or payees as Executive shall at any time designate by written notice to the Company or in Executive’s last will and testament or, if no such designation is made, then to the legal representatives of Executive’s estate, and (ii) the “Delayed Payment Interest Rate” shall mean the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date as of which Executive is treated as having incurred a “separation from service” for purposes of Section 409A.

Delay in Payment. If Executive is a “specified employee” (as such term is defined Notwithstanding any provision in Section 409A) at this Agreement to the time of Executive’s separation from servicecontrary, any payments under this Agreement that would be considered payment otherwise required to be deferred compensation (within the meaning of Treasury Regulation §1.409A-1(b)(1)) made hereunder to which Executive would otherwise be entitled during the first six (6) months following Executive’s “separation from service” and payable as a result of such “separation from service” at any date shall be deferred and accumulated delayed for a such period of six (6time as may be necessary to meet the requirements of section 409A(a)(2)(B)(i) months and paid in a lump sum on the first day of the seventh (7th) month following such separation from service (or, if earlier, the date Internal Revenue Code of Executive’s death) 1986 as amended (the “Delayed Payment Date”"Code"). On the earliest date on which any payments so delayed can be made without violating the requirements of section 409A(a)(2)(B)(i) of the Code (the "Delayed Payment Date"), there shall be paid to Executive (or if Executive has died, to "Executive’s Successor 's Successor" as the quoted term is defined below), in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, plus interest thereon at the Delayed Payment Interest Rate (as defined below) computed from the date on which each such delayed payment otherwise would have been made to Executive until the Delayed Payment Date. For purposes of the foregoing: (i) “"Executive’s 's Successor” " shall mean such payee or payees as Executive shall at any time designate by written notice to the Company or in Executive’s his last will and testament or, if no such designation is made, then to the legal representatives of Executive’s 's estate, and (ii) the “"Delayed Payment Interest Rate” " shall mean the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date as of which Executive is treated as having incurred a “"separation from service” " for purposes of Section 409A.section 409A(a)(2)(B)(i).

Delay in Payment. If Executive is a “specified employee” (as such term is defined Notwithstanding any provision in Section 409A) at this Agreement to the time of Executive’s separation from servicecontrary, any payments under this Agreement that would be considered payment otherwise required to be deferred compensation made hereunder to Executive or for his benefit at any date (within the meaning including without limitation any reimbursement required to be paid to Executive or to any of Treasury Regulation §1.409A-1(b)(1)his Dependents pursuant to Section 6(f)(v) to which Executive would otherwise be entitled during the first six (6hereof) months following Executive’s “separation from service” and payable as a result of such “separation from service” shall be deferred and accumulated delayed for a such period of six (6time as may be necessary to meet the requirements of section 409A(a)(2)(B)(i) months and paid in a lump sum on the first day of the seventh (7thCode. On the earliest date on which any payments so delayed can be made without violating the requirements of section 409A(a)(2)(B)(i) month following such separation from service (or, if earlier, of the date of Executive’s death) Code (the “Delayed Payment Date”). On the Delayed Payment Date, there shall be paid to Executive (or if Executive has died, to “Executive’s Successor Successor”) (as the quoted term is defined belowin Section 6(a) hereof), in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, plus interest thereon at the Delayed Payment Interest Rate (as defined below) computed from the date on which each such delayed payment otherwise would have been made to Executive until the Delayed Payment Date. For purposes of the foregoing: (i) “Executive’s Successor” shall mean such payee or payees as Executive shall at any time designate by written notice to the Company or in Executive’s last will and testament or, if no such designation is made, then to the legal representatives of Executive’s estate, and (ii) the “Delayed Payment Interest Rate” shall mean the national average annual rate of interest payable on jumbo six-six month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date as of which Executive is treated as having incurred a “separation from service” for purposes of Section 409A.section 409A(a)(2)(B)(i).

Delay in Payment. If Executive is a “specified employee” (as such term is defined in Section 409A) at the time of Executive’s separation from service, any payments under this Agreement that would be considered to be deferred compensation (within the meaning of Treasury Regulation §1.409A-1(b)(1)) to which Executive would otherwise be entitled during the first six (6) months following Executive’s “separation from service” and payable as a result of such “separation from service” shall be deferred and accumulated for a period of six (6) months and paid in a lump sum on the first day of the seventh (7th) month following such separation from service (or, if earlier, the date of Executive’s death) (the “Delayed Payment Date”). On the Delayed Payment Date, there shall be paid to Executive (or if Executive has died, to Executive’s Successor defined below), in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, plus interest thereon at the Delayed Payment Interest Rate (as defined below) computed from the date on which each such delayed payment otherwise would have been made to Executive until the Delayed Payment Date. For purposes of the foregoing: (i) “Executive’s Successor” shall mean such payee or payees as Executive shall at any time designate by written notice to the Company or in Executive’s last will and testament or, if no such designation is made, then to the legal representatives of Executive’s estate, and (ii) the “Delayed Payment Interest Rate” shall mean the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date as of which Executive is treated as having incurred a “separation from service” for purposes of Section 409A.409A. Exhibit 10.1

Delay in Payment. If Executive is a “specified employee” (as such term is defined Notwithstanding any provision in Section 409A) at this Agreement to the time of Executive’s separation from servicecontrary,, any payments under this Agreement that would be considered payment otherwise required to be deferred compensation (within the meaning of Treasury Regulation §1.409A-1(b)(1)) made hereunder to which Executive would otherwise be entitled during the first six (6) months following Executive’s “separation from service” and payable as a result of such “separation from service” at any date shall be deferred and accumulated delayed for a such period of six (6time as may be necessary to meet the requirements of section 409A(a)(2)(B)(i) months and paid in a lump sum on the first day of the seventh Internal Revenue Code of 1986 as amended (7ththe “Code”). On the earliest date on which any payments so delayed can be made without violating the requirements of section 409A(a)(2)(B)(i) month following such separation from service (or, if earlier, of the date of Executive’s death) Code (the “Delayed Payment Date”). On the Delayed Payment Date, there shall be paid to Executive (or if Executive has died, to “Executive’s Successor Successor” as the quoted term is defined below), in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, plus interest thereon at the Delayed Payment Interest Rate (as defined below) computed from the date on which each such delayed payment otherwise would have been made to Executive until the Delayed Payment Date. For purposes of the foregoing: (i) “Executive’s Successor” shall mean such payee or payees as Executive shall at any time designate by written notice to the Company or in Executive’s his last will and testament or, if no such designation is made, then to the legal representatives of Executive’s estate, and (ii) the “Delayed Payment Interest Rate” shall mean the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date as of which Executive is treated as having incurred a “separation from service” for purposes of Section 409A.section 409A(a)(2)(B)(i).

Delay in Payment. If Executive is a “specified employee” (as such term is defined Notwithstanding any provision in Section 409A) at this Agreement to the time of Executive’s separation from servicecontrary, any payments under this Agreement that would be considered payment otherwise required to be deferred compensation (within the meaning of Treasury Regulation §1.409A-1(b)(1)) made hereunder to which Executive would otherwise be entitled during the first six (6) months following Executive’s “separation from service” and payable at any date as a result of such “separation from service” the termination of the Term of Employment shall be deferred and accumulated delayed for a such period of six (6time as may be necessary to meet the requirements of section 409A(a)(2)(B)(i) months and paid in a lump sum on the first day of the seventh Internal Revenue Code of 1986 as amended (7ththe “Code”). On the earliest date on which such payments can be made without violating the requirements of section 409A(a)(2)(B)(i) month following such separation from service (or, if earlier, of the date of Executive’s death) Code (the “Delayed Payment Date”). On the Delayed Payment Date, there shall be paid to Executive (or if Executive has died, to “Executive’s Successor Successor” as the quoted term is defined below), in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, plus interest thereon at the Delayed Payment Interest Rate (as defined below) computed from the date on which each such delayed payment otherwise would have been made to Executive until the Delayed Payment Date. For purposes of the foregoing: (i) “Executive’s Successor” shall mean such payee or payees as Executive shall at any time (whether during or after the Term of Employment) designate by written notice to the Company or in Executive’s his last will and testament or, if no such designation is made, then to the legal representatives of Executive’s estate, and (ii) the “Delayed Payment Interest Rate” shall mean the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date as on which the Term of which Executive is treated as having incurred a “separation from service” for purposes of Section 409A.Employment ends.

Delay in Payment. If Executive is a “specified employee” (as such term is defined in Section 409A) at the time of Executive’s separation from service, any payments under this Agreement that would be considered to be deferred compensation (within the meaning of Treasury Regulation §1.409A-1(b)(1)) to which Executive would otherwise be entitled during the first six (6) months following Executive’s “separation from service” and payable as a result of such “separation from service” shall be deferred and accumulated for a period of six (6) months and paid in a lump sum on the first day of the seventh (7th) month following such separation from service (or, if earlier, the date of Executive’s death) (the “Delayed Payment Date”). On the Delayed Payment Date, there shall be paid to Executive (or if Executive has died, to Executive’s Successor defined below), in a single cash lump sum, an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, plus interest thereon at the Delayed Payment Interest Rate (as defined below) computed from the date on which each such delayed payment otherwise would have been made to Executive until the Delayed Payment Date. For purposes of the foregoing: (i) “Executive’s Successor” shall mean such payee or payees as Executive shall at any time designate by written notice to the Company or in Executive’s last will and testament or, if no such designation is made, then to the legal representatives of Executive’s estate, and (ii) the “Delayed Payment Interest Rate” shall mean the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of the New York Times preceding the date as of which Executive is treated as having incurred a “separation from service” for purposes of Section 409A.409A. Exhibit 10.2