Example ContractsClausesdelay in possessionIdentical
Delay in Possession
Delay in Possession contract clause examples

Six-Month Delay. Notwithstanding any provision of this Agreement to the contrary, if, at the time of Employee’s termination of employment with Employer, he is a “specified employee” as defined in Section 409A, and one or more of the payments or benefits received or to be received by Employee upon such termination pursuant to this Agreement would constitute deferred compensation subject to Section 409A, no such payment or benefit will be provided under this Agreement until the earlier of # the date that is six (6) months following Employee’s termination of employment with Employer and # Employee’s death. The provisions of this Section 21 shall apply only to the extent required to avoid Employee’s incurrence of any penalty tax or interest under Section 409A.

AMENDED AND RESTATED EMPLOYMENT AGREEMENT
Source: SEC EDGAR database • Date: December 28, 2018 • SIC: 5051 • CIK: 5051

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