Code § 409A. This Agreement is intended to be exempt from the requirements of Section 409A of the Code and must be construed and interpreted in accordance with this intent. Except as provided in this Agreement or as provided in the Plan, no payment will be subject to further deferral except as otherwise permitted or required pursuant to regulations and other guidance issued pursuant to Section 409A of the Code. Any provision of this Agreement that would fail to satisfy the exemption for a short-term deferral for purposes of Section 409A of the Code will be amended to so comply on a timely basis.
Appears in 3 contracts
Sources: Non Incentive Stock Option Agreement (Nuvera Communications, Inc.), Non Incentive Stock Option Agreement (Nuvera Communications, Inc.), Non Incentive Stock Option Agreement (Nuvera Communications, Inc.)