Common use of Section 409A of the Internal Revenue Code Clause in Contracts

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid to Executive hereunder is subject to Section 409A and if the Executive is a “Specified Employee” (as defined under Section 409A) as of the date of Executive’s termination of employment hereunder, then the payment of benefits, if any, scheduled to be paid by the Company to Executive hereunder during the first six (6) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six (6) month period (and, if applicable, the period in which such payments were scheduled to be made if not for such delay shall be extended accordingly). In no event shall the Company be required to pay Executive any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid to Executive Employee hereunder is subject to Section 409A and if the Executive Employee is a “Specified Employee” (as defined under Section 409A) as of the date of ExecutiveEmployee’s termination of employment hereunder, then the payment of benefits, if any, scheduled to be paid by the Company to Executive Employee hereunder during the first six (6) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six (6) month moth period (and, if applicable, and the period in which such payments were scheduled to be made if not for such delay shall be extended accordingly). In no event shall the Company be required to pay Executive Employee any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive Employee hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid to Executive Employee hereunder is subject to Section 409A and if the Executive Employee is a “Specified Employee” (as defined under Section 409A) as of the date of ExecutiveEmployee’s termination of employment hereunder, then the payment of benefits, if any, scheduled to be paid by the Company to Executive Employee hereunder during the first six (6) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six (6) month period (and, if applicable, the period in which such payments were scheduled to be made if not for such delay shall be extended accordingly). In no event shall the Company be required to pay Executive Employee any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive Employee hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid to Executive Employee hereunder is subject to Section 409A and if the Executive Employee is a “Specified Employee” (as defined under Section 409A) as of the date of ExecutiveEmployee’s termination of employment hereunder, then the payment of benefits, if any, scheduled to be paid by the Company to Executive Employee hereunder during the first six (6) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six (6) month moth period (and, if applicable, and the period in which such payments were scheduled to be made if not for such delay shall be extended accordingly). In no event shall the Company be he required to pay Executive Employee any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive Employee hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid amounts or benefits payable to Executive hereunder is subject to Section 409A and if the Executive is a “Specified Employee” (as defined under Section 409A) as of the date of Executive’s termination of employment hereunderemployment, then the payment of such amounts or benefits, if any, scheduled to be paid by the Company to Executive hereunder during the first six (6) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six (6) month period (and, if applicable, the period in which such payments were scheduled to be made if not for such delay shall be extended accordingly). In no event shall the Company be required to pay Executive any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit amounts or benefits paid to Executive hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid to Executive you hereunder is subject to Section 409A and if the Executive is you are a “Specified Employee” (as defined under Section 409A) as of the date of Executive’s your termination of employment hereunder, then the payment of such benefits, if any, scheduled to be paid by the Company to Executive hereunder during the first six (6) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six (6) month period (and, if applicable, the period in which such payments were scheduled to be made if not for such delay shall be extended accordingly). In no event shall the Company be required to pay Executive any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid amounts or benefits payable to Executive hereunder is subject to Section 409A and if the Executive is a “Specified Employee” (as defined under Section 409A) as of the date of Executive’s termination of employment hereunderemployment, then the payment of such amounts or benefits, if any, scheduled to be paid by the Company to Executive hereunder during the first six twelve (612) month period beginning on the date of a termination of employment hereunder shall be delayed during such six twelve (612) month period and shall commence immediately following the end of such six twelve (612) month period (and, if applicable, the period in which such payments were scheduled to be made if not for such delay shall be extended accordingly). In no event shall the Company be required to pay Executive any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit amounts or benefits paid to Executive hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid to Executive Employee hereunder is subject to Section 409A and if the Executive Employee is a “Specified Employee” (as defined under Section 409A) as of the date of ExecutiveEmployee’s termination of employment hereunder, then the payment of benefits, if any, scheduled to be paid by the Company to Executive Employee hereunder during the first six (6) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six (6) month moth period (and, if applicable, and the period in which such payments were scheduled to be made if not for such delay shall be extended accordinglycontinued as scheduled). In no event shall the Company be required to pay Executive Employee any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive Employee hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid amounts or benefits payable to Executive hereunder is subject to Section 409A and if the Executive is a “Specified Employee” (as defined under Section 409A) as of the date of Executive’s termination of employment hereunderemployment, then the payment of such amounts or benefits, if any, scheduled to be paid by the Company to Executive hereunder during the first six twelve (612) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six twelve (612) month period (and, if applicable, the period in which such payments were scheduled to be made if not for such delay shall be extended accordingly). In no event shall the Company be required to pay Executive any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit amounts or benefits paid to Executive hereunder.

Section 409A of the Internal Revenue Code. This Agreement is not intended to constitute a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the rules and regulations issued thereunder (“Section 409A”). Notwithstanding the foregoing, if this Agreement or any benefit paid to Executive Employee hereunder is subject to Section 409A and if the Executive Employee is a “Specified Employee” (as defined under Section 409A) as of the date of ExecutiveEmployee’s termination of employment hereunder, then the payment of benefits, if any, scheduled to be paid by the Company to Executive Employee hereunder during the first six (6) month period beginning on the date of a termination of employment hereunder shall be delayed during such six (6) month period and shall commence immediately following the end of such six (6) month moth period (and, if applicable, and the period in which such payments were scheduled to be made if not for such delay shall be extended accordinglycontinue as scheduled). In no event shall the Company be required to pay Executive Employee any “gross-up” or other payment with respect to any taxes or penalties imposed under Section 409A with respect to any benefit paid to Executive Employee hereunder.