Document ID: 10443

Text:
It is intended that each installment of the Severance Benefits payments provided for in this Agreement is a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that payments of the Severance Benefits set forth in this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Section 409A provided under Treasury Regulation Sections 1.409A-1(b)(4) , 1.409A-1(b)(5) and 1.409A-1(b)(9) . However, if the Company (or, if applicable, the successor entity thereto) determines that the Severance Benefits constitute deferred compensation under Section 409A and Executive is, on the termination of service, a specified employee of the Company or any successor entity thereto, as such term is defined in Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under Section 409A, the timing of the Severance Benefit payments shall be delayed until the earlier to occur of: (i) the date that is six months and one day after Executives Separation From Service, or (ii) the date of Executives death (such applicable date, the Specified Employee Initial Payment Date), the Company (or the successor entity thereto, as applicable) shall (A) pay to Executive a lump sum amount equal to the sum of the Severance Benefit payments that Executive would otherwise have received through the Specified Employee Initial Payment Date if the commencement of the payment of the Severance Benefits had not been so delayed pursuant to this Section 4.9, and (B) commence paying the balance of the Severance Benefits in accordance with the applicable payment schedules set forth in this Agreement.

Named Entities:
77
85
Regulation
114
114
Parties

Tokenized Text:
It
is
intended
that
each
installment
of
the
Severance
Benefits
payments
provided
for
in
this
Agreement
is
a
separate
payment
for
purposes
of
Treasury
Regulation
Section
1
.
409A-2
(
b
)
(
2
)
(
i
)
.
For
the
avoidance
of
doubt
,
it
is
intended
that
payments
of
the
Severance
Benefits
set
forth
in
this
Agreement
satisfy
,
to
the
greatest
extent
possible
,
the
exemptions
from
the
application
of
Section
409A
provided
under
Treasury
Regulation
Sections
1
.
409A-1
(
b
)
(
4
)
,
1
.
409A-1
(
b
)
(
5
)
and
1
.
409A-1
(
b
)
(
9
)
.
However
,
if
the
Company
(
or
,
if
applicable
,
the
successor
entity
thereto
)
determines
that
the
Severance
Benefits
constitute
deferred
compensation
under
Section
409A
and
Executive
is
,
on
the
termination
of
service
,
a
specified
employee
of
the
Company
or
any
successor
entity
thereto
,
as
such
term
is
defined
in
Section
409A
(
a
)
(
2
)
(
B
)
(
i
)
of
the
Code
,
then
,
solely
to
the
extent
necessary
to
avoid
the
incurrence
of
the
adverse
personal
tax
consequences
under
Section
409A
,
the
timing
of
the
Severance
Benefit
payments
shall
be
delayed
until
the
earlier
to
occur
of
:
(
i
)
the
date
that
is
six
months
and
one
day
after
Executives
Separation
From
Service
,
or
(
ii
)
the
date
of
Executives
death
(
such
applicable
date
,
the
Specified
Employee
Initial
Payment
Date
)
,
the
Company
(
or
the
successor
entity
thereto
,
as
applicable
)
shall
(
A
)
pay
to
Executive
a
lump
sum
amount
equal
to
the
sum
of
the
Severance
Benefit
payments
that
Executive
would
otherwise
have
received
through
the
Specified
Employee
Initial
Payment
Date
if
the
commencement
of
the
payment
of
the
Severance
Benefits
had
not
been
so
delayed
pursuant
to
this
Section
4
.
9
,
and
(
B
)
commence
paying
the
balance
of
the
Severance
Benefits
in
accordance
with
the
applicable
payment
schedules
set
forth
in
this
Agreement
.