Common use of Supplemental Salary Continuation Clause in Contracts

Supplemental Salary Continuation. Subject to the limitations and conditions of Paragraph 4(c), FSI shall pay Employee an amount equal to six months of Employee’s Base Annual Salary without right of offset, payable in accordance with FSI’s regular payroll schedule at the Base Annual Salary rate, commencing on the first regular payroll date of FSI that occurs following completion of all payments under Paragraph 4(a) and continuing for six months. The Company and Employee intend the payments under this Paragraph 4(b) to be deferred compensation payable in compliance with the requirements of Section 409A of the Code.