Document ID: 11647

Text:
The total amount paid to Executive under this Section 4(c) shall be paid in a single lump sum cash distribution made within ten (10) days following the Termination Date; provided however, if, at the Termination Date, Executive is a Specified Employee of the Company or the Bank, as defined in Treasury Regulation 1.409-1(i) , then, solely to the extent required to avoid penalties under Section 409A of the Internal Revenue Code (the Code), such payment shall be delayed until the first day of the seventh full month following the Termination Date, or ten (10) days following his earlier death. Such payment shall not be reduced in the event Executive obtains other employment following such early termination of his employment hereunder.

Named Entities:
60
67
Regulation
84
86
Act

Tokenized Text:
The
total
amount
paid
to
Executive
under
this
Section
4
(
c
)
shall
be
paid
in
a
single
lump
sum
cash
distribution
made
within
ten
(
10
)
days
following
the
Termination
Date
;
provided
however
,
if
,
at
the
Termination
Date
,
Executive
is
a
Specified
Employee
of
the
Company
or
the
Bank
,
as
defined
in
Treasury
Regulation
1
.
409-1
(
i
)
,
then
,
solely
to
the
extent
required
to
avoid
penalties
under
Section
409A
of
the
Internal
Revenue
Code
(
the
Code
)
,
such
payment
shall
be
delayed
until
the
first
day
of
the
seventh
full
month
following
the
Termination
Date
,
or
ten
(
10
)
days
following
his
earlier
death
.
Such
payment
shall
not
be
reduced
in
the
event
Executive
obtains
other
employment
following
such
early
termination
of
his
employment
hereunder
.