Common use of Specified Employee Delay Clause in Contracts

Specified Employee Delay. Subject to Section 14.13 of the Plan, if the Participant is deemed a “specified employee” within the meaning of Section 409A, as determined by the Administrator, at a time when the Participant becomes eligible for settlement of the Restricted Stock Units upon his or her “separation from service” within the meaning of Section 409A, then to the extent necessary to comply with, and avoid the imposition on the Participant of any accelerated or additional tax, under Section 409A, such settlement will be delayed until the earlier of (a) the six (6)-month anniversary of the Participant’s termination of service and (b) the Participant’s death. Notwithstanding anything to the contrary in this Agreement, if settlement is to occur upon a termination of service other than due to death or Disability and the Participant is a specified employee, to the extent necessary to comply with, and avoid imposition on the Participant of any additional tax or interest imposed under, Section 409A, settlement shall instead occur on the first business day following the six (6)-month anniversary of the Participant’s termination of service (or, if earlier, upon the Participant’s death), or as soon thereafter as practicable (but no later than ninety (90) days thereafter).

Specified Employee Delay. Subject to Section 14.13 of the Plan, if If the Participant is deemed a “specified employee” within the meaning of Section 409A409A of the Code, as determined by the AdministratorCommittee, at a time when the Participant becomes eligible for settlement of the Restricted Stock Units upon his or her “separation from service” within the meaning of Section 409A409A of the Code, then to the extent necessary to comply with, and avoid the imposition on the Participant of prevent any accelerated or additional tax, tax under Section 409A409A of the Code, such settlement will be delayed until the earlier of of: (a) the date that is six (6)-month anniversary of months following the Participant’s termination Termination of service Service and (b) the Participant’s death. Notwithstanding anything to the contrary in this Agreement, if settlement is to occur upon a termination Termination of service Service other than due to death or Disability and the Participant is a specified employeeSpecified Employee and the Units are a Specified Award, to the extent necessary to comply with, and avoid imposition on the Participant of any additional tax or interest imposed under, Section 409A409A of the Code, settlement shall instead occur on the first business day following the six (6)-month six-month anniversary of the Participant’s termination Termination of service Service (or, if earlier, upon the Participant’s death), or as soon thereafter as practicable (but no later than ninety (90) 90 days thereafter).

Specified Employee Delay. Subject to Section 14.13 of the Plan, if If the Participant is deemed a “specified employee” within the meaning of Section 409A409A of the Code, as determined by the AdministratorCommittee, at a time when the Participant becomes eligible for settlement of the Restricted Stock Units upon his or her “separation from service” within the meaning of Section 409A409A of the Code, then to the extent necessary to comply with, and avoid the imposition on the Participant of prevent any accelerated or additional tax, tax under Section 409A409A of the Code, such settlement will be delayed until the earlier of of: (a) the date that is six (6)-month anniversary of months following the Participant’s termination Termination of service Service and (b) the Participant’s death. Notwithstanding anything to the contrary in this Agreement, if settlement is to occur upon a termination Termination of service Service other than due to death or Disability and the Participant is a specified employeeSpecified Employee and the Performance Share Units are a Specified Award, to the extent necessary to comply with, and avoid imposition on the Participant of any additional tax or interest imposed under, Section 409A409A of the Code, settlement shall instead occur on the first business day following the six (6)-month six-month anniversary of the Participant’s termination Termination of service Service (or, if earlier, upon the Participant’s death), or as soon thereafter as practicable (but no later than ninety (90) 90 days thereafter).

Specified Employee Delay. Subject to Section 14.13 of the Plan, if If the Participant is deemed a “"specified employee” " within the meaning of Section 409A of the Code and the regulations promulgated thereunder (“Section 409A”), as determined by the AdministratorCommittee, at a time when the Participant becomes eligible for settlement of the Restricted Stock Units upon his or her “separation from service” within the meaning of Section 409A, then to the extent necessary to comply with, and avoid the imposition on the Participant of prevent any accelerated or additional tax, tax under Section 409A, such settlement will be delayed until the earlier of of: (a) the date that is six (6)-month anniversary of months following the Participant’s termination of service and (b) the Participant’s 's death. Notwithstanding anything to the contrary in this Agreement, if settlement is to occur upon a termination of service other than due to death or Disability and the Participant is a specified employee, to the extent necessary to comply with, and avoid imposition on the Participant of any additional tax or interest imposed under, Section 409A, settlement shall instead occur on the first business day following the six (6)-month six-month anniversary of the Participant’s termination of service (or, if earlier, upon the Participant’s death), or as soon thereafter as practicable (but no later than ninety (90) 90 days thereafter).