Common use of Delayed Distribution to Key Employees Clause in Contracts

Delayed Distribution to Key Employees. If the Company determines in accordance with Sections 409A and 416(i) of the Code and the regulations promulgated thereunder, in the Company’s sole discretion, that the Executive is a Key Employee of the Company on the date the Executive’s employment with the Company terminates and that a delay in benefits provided under this Agreement is necessary to comply with Code Section

Delayed Distribution to Key Employees. If the Company Corporation determines in accordance with Sections 409A and 416(i) of the Code and the regulations promulgated thereunder, in the CompanyCorporation’s sole discretion, that the Executive is a Key Employee of the Company on the date the Executive’s his employment with the Company Corporation terminates and that a delay in benefits provided under this Agreement is necessary to comply with Code SectionAgreement