EX-10.51
from 8-K
3 pages
1. Unless Your Employment Agreement Specifies a Fixed Date for the Payment of Any Severance Benefits, Such Benefits Shall Be Paid on the Date of Your Termination of Employment From the Company. if the Severance Payment Is to Be Made Over a Period of Time, Such Payments Shall Be Made at Regular Intervals Coinciding With the Company’s Regular Payroll Practice, With the First Such Payment to Be Made With Respect to the First Payroll Period Immediately Following Your Termination of Employment. 2. in All Cases in Which Amounts Are Payable Upon a Fixed Date, Payment Is Deemed to Be Made Upon the Fixed Date if the Payment Is Made on Such Date or a Later Date Within the Same Calendar Year Or, if Later, by the 15th Day of the Third Calendar Month Following the Specified Date. 3. Notwithstanding Anything Herein to the Contrary, in the Event You Are Determined to Be a “Specified Employee” as Defined in Code Section 409a and the Regulations Promulgated Thereunder and You Become Entitled to Any Severance Payments Under Your Employment Agreement Due to Your Termination of Employment for Any Reason Other Than Death or Disability, Commencement of Such Severance Benefits Shall, to the Extent Necessary to Avoid Adverse Consequences Under Code Section 409a Occur as Follows
12/34/56