This excerpt taken from the TRH 8-K filed May 29, 2008.
Limitations on Severance
The amounts described in Subsections B through F of this Section IV (collectively referred to as “Severance”) are subject to the Eligible Employee’s continued compliance with any applicable release and/or restrictive covenant agreement (referred to generically as the “Release”) that the Company may require under other compensation arrangements (including but not limited to the Partners Plan, the Senior Partners Plan and the Company’s Deferred Compensation Profit Participation Plan), any applicable employment agreement or the release pursuant to Section VI below. Failure to execute or adhere to such a Release by the Eligible Employee shall result in a forfeiture of all Severance under this Plan. (For the avoidance of doubt, any Severance Installment or other Severance benefit due under the terms of this Plan shall be forfeited to the extent such payment would have otherwise been due but for the Eligible Employee’s failure to provide the Company with a duly executed and effective Release.) Nothing herein shall preclude the Company in its sole discretion from requiring the Eligible Employee to enter into other such releases or agreements as a condition to receiving Severance under this Plan.
H. Timing of Payments and Delay for Specified Employees
Severance Installments shall commence on a payroll date of the Eligible Employee’s employer within 90 days following the Eligible Employee’s termination of employment. For purposes of Code section 409A, each Severance Installment shall be treated as a separate payment. If the Plan Administrator determines that the Eligible Employee is a “specified employee” for purposes of Code section 409A, any Severance Installment or other Severance benefit that would otherwise be payable or due under Section IV of this Plan shall be delayed for six months to the extent that such Severance is determined to constitute deferred compensation under Code section 409A (taking into account any regulatory exceptions that may be applicable, such as short-term deferral and separation under Code section 409A). In such case, the Eligible Employee shall not receive such Severance Installment or benefit that is subject to the six-month delay until the first scheduled payroll date that occurs more than six months following the date of termination (the “First Payment Date”) and, on the First Payment Date, the Company shall pay the Eligible Employee an amount equal to the sum of the Severance Installments that would have been payable in respect of the period preceding the First Payment Date but for the delay imposed on account of Code section 409A.