Document ID: 16007

Text:
Separation Release. Notwithstanding anything to the contrary, but subject to any applicable six-month delay required by Section 18 hereof and Section 409A of the Internal Revenue Code of 1986 , as amended (Section 409A), if a payment is otherwise payable to Executive hereunder, payment of such Separation Payment shall be payable in cash to him at the end of the month following the month in which his separation from service (within the meaning of Section 409A) occurs (or such later date as may be required by law). However, Executives right to receive the Separation Payment shall be conditioned upon (i) his execution and delivery to the Company of a Separation Release (and the expiration of any statutorily mandated revocation period) within 30 days (or such longer period as may be required by law) following the separation from service date and (ii) his continued compliance with this Agreement and any other restrictive covenants to which he is bound. If Executive fails to timely execute and deliver the Separation Release or if he timely revokes his acceptance of the Separation Release thereafter (if such revocation is permitted), he shall not be entitled to the Separation Payment and shall repay any Separation Payment received. If the foregoing consideration and revocation periods begin in one taxable year and end in a second taxable year, payment will be made in the second taxable year.

Named Entities:
0
1
Title
22
23
Regulation
26
30
Act

Tokenized Text:
Separation
Release
.
Notwithstanding
anything
to
the
contrary
,
but
subject
to
any
applicable
six-month
delay
required
by
Section
18
hereof
and
Section
409A
of
the
Internal
Revenue
Code
of
1986
,
as
amended
(
Section
409A
)
,
if
a
payment
is
otherwise
payable
to
Executive
hereunder
,
payment
of
such
Separation
Payment
shall
be
payable
in
cash
to
him
at
the
end
of
the
month
following
the
month
in
which
his
separation
from
service
(
within
the
meaning
of
Section
409A
)
occurs
(
or
such
later
date
as
may
be
required
by
law
)
.
However
,
Executives
right
to
receive
the
Separation
Payment
shall
be
conditioned
upon
(
i
)
his
execution
and
delivery
to
the
Company
of
a
Separation
Release
(
and
the
expiration
of
any
statutorily
mandated
revocation
period
)
within
30
days
(
or
such
longer
period
as
may
be
required
by
law
)
following
the
separation
from
service
date
and
(
ii
)
his
continued
compliance
with
this
Agreement
and
any
other
restrictive
covenants
to
which
he
is
bound
.
If
Executive
fails
to
timely
execute
and
deliver
the
Separation
Release
or
if
he
timely
revokes
his
acceptance
of
the
Separation
Release
thereafter
(
if
such
revocation
is
permitted
)
,
he
shall
not
be
entitled
to
the
Separation
Payment
and
shall
repay
any
Separation
Payment
received
.
If
the
foregoing
consideration
and
revocation
periods
begin
in
one
taxable
year
and
end
in
a
second
taxable
year
,
payment
will
be
made
in
the
second
taxable
year
.