Common use of Required Postponement for Specified Executives Clause in Contracts

Required Postponement for Specified Executives. (a) If Executive is considered a Specified Executive (as defined below) and payment of any amounts under this Agreement is required to be delayed for a period of six months after separation from service pursuant to section 409A of the Code, payment of such amounts shall be delayed as required by section 409A of the Code, and the accumulated postponed amounts, with accrued interest as described below, shall be paid in a lump sum payment within five days after the end of the six month period. If Executive dies during the postponement period prior to the payment of benefits, the amounts postponed on account of section 409A of the Code, with accrued interest as described in subsection (b) below, shall be paid to the personal representative of Executive’s estate within 60 days after the date of Executive’s death.

Required Postponement for Specified Executives. (a) If the Executive is considered a Specified Executive (as defined below) and payment of any amounts under this Agreement is required to be delayed for a period of six (6) months after a separation from service pursuant to section Section 409A of the Code, payment of such amounts shall be delayed as required by section Section 409A of the Code, and the accumulated postponed amounts, with accrued interest as described in subsection (b) below, shall be paid in a lump sum payment within five (5) days after the end of the six (6) month period. If the Executive dies during the postponement period prior to the payment of benefitssuch amounts, the amounts postponed on account of section Section 409A of the Code, with accrued interest as described in subsection (b) below, shall be paid to the personal representative of Executive’s estate Beneficiary within 60 sixty (60) days after the date of the Executive’s death.

Required Postponement for Specified Executives. (a) If Notwithstanding anything in this Agreement to the contrary, if Executive is considered a Specified Executive (as defined belowin Section 5) and payment of any amounts under this Agreement is required to be delayed for a period of six months after separation from service pursuant to section Section 409A of the Code, payment of such amounts shall be delayed as required by section 409A of the Code409A, and the accumulated postponed amounts, with accrued interest as described below, shall be paid in a lump sum payment within five days after the end of the six month period. If Executive dies during the postponement period prior to the payment of benefits, the amounts postponed withheld on account of section 409A of the Code409A, with accrued interest as described in subsection (b) below, shall be paid to the personal representative of Executive’s estate within 60 days after the date of Executive’s death.

Required Postponement for Specified Executives. (a) If the Executive is considered a Specified Executive (as defined below) and payment of any amounts under this Agreement is required to be delayed for a period of six months after a separation from service pursuant to section Section 409A of the Code, payment of such amounts shall be delayed as required by section Section 409A of the Code, and the accumulated postponed amounts, with accrued interest as described in subsection (b) below, shall be paid in a lump sum payment within five (5) days after the end of the six (6) month period. If the Executive dies during the postponement period prior to the payment of benefitssuch amounts, the amounts postponed on account of section Section 409A of the Code, with accrued interest as described in subsection (b) below, shall be paid to the personal representative of Executive’s estate Beneficiary within 60 sixty (60) days after the date of the Executive’s death.

Required Postponement for Specified Executives. (a) If Executive is considered a Specified Executive “specified employee” (as defined belowunder Section 409A) and payment of any amounts under this Agreement is required to be delayed for a period of six (6) months after separation from service pursuant to section 409A of the CodeSection 409A, payment of such amounts shall be delayed as required by section 409A of the CodeSection 409A, _______ Executive’s Initials and the accumulated postponed amounts, with accrued interest as described below, amounts shall be paid in a lump lump-sum payment within five (5) days after the end of the six (6) month period. If Executive dies during the postponement period prior to the payment of benefits, the amounts postponed on account of section Section 409A of the Code, with accrued interest as described in subsection (b) below, shall be paid to the personal representative of Executive’s estate within 60 thirty (30) days after the date of Executive’s death.

Required Postponement for Specified Executives. (a) If Executive is considered a Specified Executive (as defined below) and payment of any amounts under this Agreement is required to be delayed for a period of six months after separation from service pursuant to section Section 409A of the Code, payment of such amounts shall be delayed as required by section 409A of the Code409A, and the accumulated postponed amounts, with accrued interest as described below, shall be paid in a lump sum payment within five days after the end of the six month period. If Executive dies during the postponement period prior to the payment of benefits, the amounts postponed on account of section 409A of the CodeSection 409A, with accrued interest as described in subsection (b) below, shall be paid to the personal representative of Executive’s 's estate within 60 days after the date of Executive’s 's death.