Common use of Code § 409A Clause in Contracts

Code § 409A. The Employee and Employer intend that the benefits provided under this Agreement will comply, in form and operation, with an exception to or exclusion from the requirements of Code §409A and this Agreement will be construed and administered in a manner that is consistent with and gives effect to such intention. Any payment made under this Section 2 is intended to be exempt from the requirements of Code §409A because it is a short-term deferral under Treas. Reg. Sec. 1.409A-1(b)(4) or a payment under a separation pay plan within the meaning of Treas. Reg. Sec. 1.409A-1(b)(9).

Code § 409A. The Employee and Employer intend that the benefits provided under this Agreement will comply, in form and operation, with an exception to or exclusion from the requirements of Internal Revenue Code §409A and this Agreement will be construed and administered in a manner that is consistent with and gives effect to such intention. Any The payment made and benefits to be provided under this Section 2 is 3 are intended to be exempt from the requirements of Code §409A because it is a such payment and benefits are short-term deferral deferrals under Treas. Reg. Sec. §1.409A-1(b)(4) or a payment provided under a separation pay plan within the meaning of Treas. Reg. Sec. §1.409A-1(b)(9).