Common use of Delay of Payments Clause in Contracts

Delay of Payments. In the event that any payment or distribution to be made hereunder constitutes “deferred compensation” subject to Section 409A of the Internal Revenue Code and Executive is determined to be a specified employee (as defined in Section 409A), such payment or distribution shall not be made before the date that is six months after the termination of Executive’s employment (or, if earlier, the date of the Executive’s death).

Delay of Payments. In the event that any payment or distribution to be made to the Executive hereunder constitutes is determined to constitute “deferred compensation” subject to Section 409A of the Internal Revenue Code Code, and the Executive is determined to be a “specified employee employee” (as defined in Section 409A409A of the Code), such payment or distribution shall not be made before the date that which is six months after the termination of the Executive’s employment (or, if earlier, the date of the Executive’s death).

Delay of Payments. In the event that any payment or distribution to be made hereunder constitutes “"deferred compensation” " subject to Section 409A of the Internal Revenue Code and Executive is determined to be a specified employee (as defined in Section 409A), such payment or distribution shall not be made before the date that is six months after the termination of Executive’s 's employment (or, if earlier, the date of the Executive’s 's death).

Delay of Payments. In the event that any payment or distribution to be made to the Executive hereunder constitutes “is determined to constitute "deferred compensation” " subject to Section 409A of the Internal Revenue Code Code, and the Executive is determined to be a "specified employee employee" (as defined in Section 409A409A of the Code), such payment or distribution shall not be made before the date that which is six months after the termination of the Executive’s 's employment (or, if earlier, the date of the Executive’s 's death).

Delay of Payments. In the event that any payment or distribution to be made to the Executive upon termination of the Executive’s employment hereunder constitutes is determined to constitute “deferred compensation” subject to Section 409A of the Internal Revenue Code Code, and the Executive is determined to be a “specified employee employee” (as defined in Section 409A409A of the Code), such payment or distribution shall not be made before the date that which is six months after the termination of the Executive’s employment (or, if earlier, the date of the Executive’s death).