TXRH » Topics » Six Month Delay

These excerpts taken from the TXRH 10-K filed Feb 27, 2009.
Six Month Delay.  Notwithstanding anything herein to the contrary, if the Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or any successor thereto) on her Termination Date, any payments hereunder that are triggered by termination of employment and which are not exempt as separation pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term deferral pay, shall not begin to be paid until six months after her  Termination Date, and at that time, the Executive will receive in one lump sum payment of all the payments that would have otherwise been paid to the Executive during the first six months following the Executive’s Termination Date.  The Company shall determine, consistent with any guidance issued under Code Section 409A, the portion of payments that are required to be delayed, if any.

 

8.                                        Section 13 is amended to add the following new subsection (n) at the end thereof:

 

(n)                                

Six Month Delay.  Notwithstanding anything herein to the contrary, if the Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or any successor thereto) on his Termination Date, any payments hereunder that are triggered by termination of employment and which are not exempt as separation pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term deferral pay, shall not begin to be paid until six months after his  Termination Date, and at that time, the Executive will receive in one lump sum payment of all the payments that would have otherwise been paid to the Executive during the first six months following the Executive’s Termination Date.  The Company shall determine, consistent with any guidance issued under Code Section 409A, the portion of payments that are required to be delayed, if any.

 

8.                                        Section 13 is amended to add the following new subsection (n) at the end thereof:

 

(n)                                

Six Month Delay.  Notwithstanding anything herein to the contrary, if the Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or any successor thereto) on his Termination Date, any payments hereunder that are triggered by termination of employment and which are not exempt as separation pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term deferral pay, shall not begin to be paid until six months after his  Termination Date, and at that time, the Executive will receive in one lump sum payment of all the payments that would have otherwise been paid to the Executive during the first six months following the Executive’s Termination Date.  The Company shall determine, consistent with any guidance issued under Code Section 409A, the portion of payments that are required to be delayed, if any.

 

9.                                        Section 13 is amended to add the following new subsection (n) at the end thereof:

 

(n)                                

Six Month Delay.  Notwithstanding anything herein to the contrary, if the Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or any successor thereto) on his Termination Date, any payments hereunder that are triggered by termination of employment and which are not exempt as separation pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term deferral pay, shall not begin to be paid until six months after his  Termination Date, and at that time, the Executive will receive in one lump sum payment of all the payments that would have otherwise been paid to the Executive during the first six months following the Executive’s Termination Date.  The Company shall determine, consistent with any guidance issued under Code Section 409A, the portion of payments that are required to be delayed, if any.

 

9.                                        Section 13 is amended to add the following new subsection (n) at the end thereof:

 

(n)                                

Six Month Delay.  Notwithstanding anything herein to the contrary, if the Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or any successor thereto) on his Termination Date, any payments hereunder that are triggered by termination of employment and which are not exempt as separation pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term deferral pay, shall not begin to be paid until six months after his  Termination Date, and at that time, the Executive will receive in one lump sum payment of all the payments that would have otherwise been paid to the Executive during the first six months following the Executive’s Termination Date.  The Company shall determine, consistent with any guidance issued under Code Section 409A, the portion of payments that are required to be delayed, if any.

 

9.                                        Section 13 is amended to add the following new subsection (n) at the end thereof:

 

(n)                                

Six
Month Delay

Notwithstanding anything herein to the contrary, if the Executive is a “specified
employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or
any successor thereto) on his Termination Date, any payments hereunder that are
triggered by termination of employment and which are not exempt as separation
pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term
deferral pay, shall not begin to be paid until six months after his  Termination Date, and at that time, the
Executive will receive in one lump sum payment of all the payments that would
have otherwise been paid to the Executive during the first six months following
the Executive’s Termination Date.  The
Company shall determine, consistent with any guidance issued under Code Section 409A,
the portion of payments that are required to be delayed, if any.



 



9.                                        Section 13
is amended to add the following new subsection (n) at the end thereof:



 



(n)                                

Six
Month Delay

Notwithstanding anything herein to the contrary, if the Executive is a “specified
employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or
any successor thereto) on his Termination Date, any payments hereunder that are
triggered by termination of employment and which are not exempt as separation
pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term
deferral pay, shall not begin to be paid until six months after his  Termination Date, and at that time, the
Executive will receive in one lump sum payment of all the payments that would
have otherwise been paid to the Executive during the first six months following
the Executive’s Termination Date.  The
Company shall determine, consistent with any guidance issued under Code Section 409A,
the portion of payments that are required to be delayed, if any.



 



8.                                        Section 13
is amended to add the following new subsection (n) at the end thereof:



 



(n)                                

Six
Month Delay

Notwithstanding anything herein to the contrary, if the Executive is a “specified
employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or
any successor thereto) on his Termination Date, any payments hereunder that are
triggered by termination of employment and which are not exempt as separation
pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term
deferral pay, shall not begin to be paid until six months after his  Termination Date, and at that time, the
Executive will receive in one lump sum payment of all the payments that would
have otherwise been paid to the Executive during the first six months following
the Executive’s Termination Date.  The
Company shall determine, consistent with any guidance issued under Code Section 409A,
the portion of payments that are required to be delayed, if any.



 



9.                                        Section 13
is amended to add the following new subsection (n) at the end thereof:



 



(n)                                

Six
Month Delay

Notwithstanding anything herein to the contrary, if the Executive is a “specified
employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or
any successor thereto) on his Termination Date, any payments hereunder that are
triggered by termination of employment and which are not exempt as separation
pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term
deferral pay, shall not begin to be paid until six months after his  Termination Date, and at that time, the
Executive will receive in one lump sum payment of all the payments that would
have otherwise been paid to the Executive during the first six months following
the Executive’s Termination Date.  The
Company shall determine, consistent with any guidance issued under Code Section 409A,
the portion of payments that are required to be delayed, if any.



 



9.                                        Section 13
is amended to add the following new subsection (n) at the end thereof:



 



(n)                                

Six
Month Delay

Notwithstanding anything herein to the contrary, if the Executive is a “specified
employee” within the meaning of Treasury Regulation Section 1.409A-1(i) (or
any successor thereto) on her Termination Date, any payments hereunder that are
triggered by termination of employment and which are not exempt as separation
pay under Treasury Regulation Section 1.409A-1(b)(9) or as short-term
deferral pay, shall not begin to be paid until six months after her  Termination Date, and at that time, the
Executive will receive in one lump sum payment of all the payments that would
have otherwise been paid to the Executive during the first six months following
the Executive’s Termination Date.  The
Company shall determine, consistent with any guidance issued under Code Section 409A,
the portion of payments that are required to be delayed, if any.



 



8.                                        Section 13
is amended to add the following new subsection (n) at the end thereof:



 



(n)                                

EXCERPTS ON THIS PAGE:

10-K (10 sections)
Feb 27, 2009

RELATED TOPICS for TXRH:

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