Common use of Specified Employee Clause in Contracts

Specified Employee. If Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of Executive’s Separation from Service or (ii) the date of Executive’s death; and (ii) On the first day of the seventh month following the date of Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) shall be made to Executive.

Appears in 10 contracts

Sources: Employment Agreement (Harris Interactive Inc), Employment Agreement (Harris Interactive Inc), Employment Agreement (Harris Interactive Inc)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) i. With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall will not be made or provided prior to the earlier of (ix) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (iiy) the date of the Executive’s death, to the extent required to comply with Code Section 409A; and (ii) . On the first day of the seventh (7th) month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall XVIII will be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall will be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) shall XVIII will be made to the Executive.

Appears in 5 contracts

Sources: Employment Agreement (Wyndham Hotels & Resorts, Inc.), Employment Agreement (Wyndham Hotels & Resorts, Inc.), Employment Agreement (Wyndham Hotels & Resorts, Inc.)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) i. With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall will not be made or provided prior to the earlier of (ix) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (iiy) the date of the Executive’s death, to the extent required to comply with Code Section 409A; and (ii) . On the first day of the seventh (7th) month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall XIX will be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall will be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) shall XIX will be made to the Executive.

Appears in 4 contracts

Sources: Employment Agreement (Wyndham Hotels & Resorts, Inc.), Employment Agreement (Wyndham Destinations, Inc.), Employment Agreement (Wyndham Destinations, Inc.)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (ia) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of Executive’s Separation from Service or (ii) the date of Executive’s death; and (iib) On the first day of the seventh month following the date of Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, 9 with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) 9.4 shall be made to the Executive.

Appears in 3 contracts

Sources: Employment Agreement (Bionovo Inc), Employment Agreement (Enzo Biochem Inc), Employment Agreement (Enzo Biochem Inc)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (ii) the date of the Executive’s death; and (ii) On the first day of the seventh month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), XIX shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) XIX shall be made to the Executive.

Appears in 3 contracts

Sources: Employment Agreement (Wyndham Worldwide Corp), Employment Agreement (Wyndham Worldwide Corp), Employment Agreement (Wyndham Worldwide Corp)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) i. With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall will not be made or provided prior to the earlier of (ix) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (iiy) the date of the Executive’s death, to the extent required to comply with Code Section 409A; and (ii) . On the first day of the seventh month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall XIX will be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall will be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) shall XIX will be made to the Executive.

Appears in 3 contracts

Sources: Employment Agreement (Wyndham Hotels & Resorts, Inc.), Employment Agreement (Wyndham Worldwide Corp), Employment Agreement (Wyndham Worldwide Corp)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) i. With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall will not be made or provided prior to the earlier of (ia) the expiration of the six-month six (6)-month period measured from the date of the Executive’s Separation from Service or and (iib) the date of the Executive’s death, to the extent required to comply with Code Section 409A; and (ii) . On the first day of the seventh (7th) month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (xa) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall XVIII will be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall will be paid or provided in accordance with the normal dates specified from for them herein and (yb) all distributions of equity delayed pursuant to this Section 4.7(d) shall XVIII will be made to the Executive.

Appears in 2 contracts

Sources: Employment Agreement (Travel & Leisure Co.), Employment Agreement (Travel & Leisure Co.)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) a. With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall will not be made or provided prior to the earlier of (ia) the expiration of the six-month six (6)-month period measured from the date of the Executive’s Separation from Service or and (iib) the date of the Executive’s death, to the extent required to comply with Code Section 409A; and (ii) b. On the first day of the seventh (7th) month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (xa) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall XIX will be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall will be paid or provided in accordance with the normal dates specified from for them herein and (yb) all distributions of equity delayed pursuant to this Section 4.7(d) shall XIX will be made to the Executive.

Appears in 2 contracts

Sources: Employment Agreement (Travel & Leisure Co.), Employment Agreement (Travel & Leisure Co.)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Internal Revenue Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Internal Revenue Code Section 409A, payable upon separation Separation from serviceService, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (ii) the date of the Executive’s death; and (ii) On the first day of the seventh month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.73.9, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from them herein herein, and (y) all distributions of equity delayed pursuant to this Section 4.7(d3.9(d) shall be made to the Executive.

Appears in 2 contracts

Sources: Employment Agreement (Harris Interactive Inc), Employment Agreement (Harris Interactive Inc)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity under this Agreement that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (ix) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (iiy) the date of the Executive’s death; and (ii) On the first day of the seventh month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), XIX shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) XIX shall be made to the Executive.

Appears in 2 contracts

Sources: Employment Agreement (Wyndham Worldwide Corp), Employment Agreement (Wyndham Worldwide Corp)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) i. With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall will not be made or provided prior to the earlier of (ix) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (iiy) the date of the Executive’s death; and (ii) . On the first day of the seventh month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall XVIII will be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall will be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) shall XVIII will be made to the Executive.

Appears in 1 contract

Sources: Employment Agreement (Wyndham Worldwide Corp)

Specified Employee. If Executive Employee is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A409A of the Code, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (ix) the expiration of the six-month period measured from the date of ExecutiveEmployee’s Separation from Service or (iiy) the date of ExecutiveEmployee’s death; and (ii) On the first day of the seventh month following the date of ExecutiveEmployee’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, 9 with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to Executive Employee in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) 9 shall be made to ExecutiveEmployee.

Appears in 1 contract

Sources: Employment Agreement (Mobiquity Technologies, Inc.)

Specified Employee. If Executive Employee is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by Company Employer from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity upon separation from service that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of ExecutiveEmployee’s Separation from Service Service, as provided herein or (ii) the date of ExecutiveEmployee’s death; and (ii) On the first day of the seventh month following the date of ExecutiveEmployee’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period 16 (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), ) shall be paid or reimbursed to Executive Employee as provided in a lump sumthis Agreement, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) shall be made to Executivethe Executive in accordance with the terms herein.

Appears in 1 contract

Sources: Employment Agreement (Choice Hotels International Inc /De)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (ii) the date of the Executive’s death; and (ii) On the first day of the seventh month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), 11 shall be paid or reimbursed to the Executive in a lump sumsum without interest, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d11(d) shall be made to the Executive.

Appears in 1 contract

Sources: Employment Agreement (Loral Space & Communications Inc.)

Specified Employee. If Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of Executive’s Separation from Service or (ii) the date of Executive’s death; and (ii) On the first day of the seventh month following the date of Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.74.9, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d4.9(d) shall be made to Executive.

Appears in 1 contract

Sources: Employment Agreement (Torvec Inc)

Specified Employee. If Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of Executive’s Separation from Service or (ii) the date of Executive’s death; and (ii) On the first day of the seventh month following the date of Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.74.10, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d4.10(d) shall be made to Executive.

Appears in 1 contract

Sources: Employment Agreement (Harris Interactive Inc)

Specified Employee. If Executive Employee is deemed on the date of termination of his employment to be a "specified employee”, " within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes "deferred compensation" subject to Code Section 409A409A of the Code, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (ix) the expiration of the six-month period measured from the date of Executive’s Employee's Separation from Service or (iiy) the date of Executive’s Employee's death; and (ii) On the first day of the seventh month following the date of Executive’s Employee's Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, 9 with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to Executive Employee in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) 9 shall be made to ExecutiveEmployee.

Appears in 1 contract

Sources: Employment Agreement (Mobiquity Technologies, Inc.)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (ii) the date of the Executive’s death; and (ii) On the first day of the seventh month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), XIX shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) XIX shall be made to the Executive.

Appears in 1 contract

Sources: Employment Agreement (Wyndham Worldwide Corp)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (i) i. With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (ix) the expiration of the six-month period measured from the date of the Executive’s Separation from Service or (iiy) the date of the Executive’s death; and (ii) . On the first day of the seventh month following the date of the Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), XVIII shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from for them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) XVIII shall be made to the Executive.

Appears in 1 contract

Sources: Employment Agreement (Wyndham Worldwide Corp)

Specified Employee. If the Executive is deemed on the date of termination of his employment to be a “specified employee”, within the meaning of that term under Section 409A(a)(2)(B409A(a)(2.25)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default methodology, then: (ia) With regard to any payment, the providing of any benefit or any distribution of equity that constitutes “deferred compensation” subject to Code Section 409A, payable upon separation from service, such payment, benefit or distribution shall not be made or provided prior to the earlier of (i) the expiration of the six-month period measured from the date of Executive’s Separation from Service or (ii) the date of Executive’s death; and (iib) On the first day of the seventh month following the date of Executive’s Separation from Service or, if earlier, on the date of his death, (x) all payments delayed pursuant to this Section 4.7, 9 with interest at the prime rate as published in the Wall Street Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments in the absence of such delay), shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal dates specified from them herein and (y) all distributions of equity delayed pursuant to this Section 4.7(d) 9.4 shall be made to the Executive.

Appears in 1 contract

Sources: Employment Agreement (Bionovo Inc)