{"component": "clause", "props": {"groups": [{"size": 693, "samples": [{"hash": "l6aEtl585Xt", "uri": "/contracts/l6aEtl585Xt#code-section-409a", "label": "Executive Employment Agreement (Belden Inc.)", "score": 28.5906906128, "published": true}, {"hash": "6JH5kPecVZh", "uri": "/contracts/6JH5kPecVZh#code-section-409a", "label": "Executive Employment Agreement (Belden Inc.)", "score": 27.8432579041, "published": true}, {"hash": "6DPXbQTSmF0", "uri": "/contracts/6DPXbQTSmF0#code-section-409a", "label": "Executive Employment Agreement (Belden Inc.)", "score": 24.5879535675, "published": true}], "snippet": "(a) It is intended that any amounts payable under this Agreement and the Company\u2019s and Executive\u2019s exercise of authority or discretion hereunder shall comply with the provisions of Section 409A of the Code and the treasury regulations relating thereto so as not to subject Executive to the payment of interest and tax penalty which may be imposed under Section 409A. In furtherance of this interest, anything to the contrary herein notwithstanding, no amounts shall be payable to Executive before such time as such payment fully complies with the provisions of Section 409A and, to the extent that any regulations or other guidance issued under Section 409A after the date of this Agreement would result in Executive being subject to payment of interest and tax penalty under Section 409A, the parties agree to amend this Agreement in order to bring this Agreement into compliance with Section 409A.\n(b) With regard to any provision herein that provides for reimbursement of expenses or in-kind benefits, except as permitted by Section 409A, (i) all such reimbursements shall be made within a commercially reasonable time after presentation of appropriate documentation but in no event later than the end of the year immediately following the year in which Executive incurs such reimbursement expenses, (ii) no such reimbursements or in-kind benefits will affect any other costs or expenses eligible for reimbursement, or any other in-kind benefits to be provided, in any other year and (iii) no such reimbursements or in-kind benefits are subject to liquidation or exchange for another payment or benefit.\n(c) Without limiting the discretion of either the Company or the Executive to terminate the Executive\u2019s employment hereunder for any reason (or no reason), solely for purposes of compliance with 409A a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a separation from service (within the meaning of Treasury Regulation Section 1.409A-1(h) (applying the 20% default post-separation limit thereunder)) as an employee and, for purposes of any such provision of this Agreement, references to a \u201ctermination\u201d or \u201ctermination of employment\u201d shall mean separation from service as an employee and such payments shall thereupon be made at or following such separation from service as an employee as provided hereunder.", "snippet_links": [{"key": "amounts-payable-under-this-agreement", "type": "clause", "offset": [28, 64]}, {"key": "and-the-company", "type": "clause", "offset": [65, 80]}, {"key": "authority-or-discretion", "type": "definition", "offset": [111, 134]}, {"key": "section-409a-of-the-code", "type": "definition", "offset": [181, 205]}, {"key": "treasury-regulations", "type": "clause", "offset": [214, 234]}, {"key": "tax-penalty", "type": "definition", "offset": [314, 325]}, {"key": "to-executive", "type": "clause", "offset": [477, 489]}, {"key": "to-the-extent", "type": "clause", "offset": [579, 592]}, {"key": "other-guidance", "type": "clause", "offset": [617, 631]}, {"key": "date-of-this-agreement", "type": "definition", "offset": [668, 690]}, {"key": "subject-to", "type": "definition", "offset": [723, 733]}, {"key": "to-amend-this-agreement", "type": "clause", "offset": [808, 831]}, {"key": "in-order-to", "type": "clause", "offset": [832, 843]}, {"key": "compliance-with-section-409a", "type": "clause", "offset": [870, 898]}, {"key": "with-regard-to", "type": "clause", "offset": [904, 918]}, {"key": "for-reimbursement-of-expenses", "type": "clause", "offset": [954, 983]}, {"key": "reasonable-time", "type": "definition", "offset": [1106, 1121]}, {"key": "appropriate-documentation", "type": "clause", "offset": [1144, 1169]}, {"key": "in-no-event", "type": "clause", "offset": [1174, 1185]}, {"key": "end-of-the-year", "type": "definition", "offset": [1201, 1216]}, {"key": "following-the", "type": "definition", "offset": [1229, 1242]}, {"key": "reimbursement-expenses", "type": "clause", "offset": [1279, 1301]}, {"key": "benefits-will", "type": "clause", "offset": [1342, 1355]}, {"key": "other-costs", "type": "definition", "offset": [1367, 1378]}, {"key": "expenses-eligible-for-reimbursement", "type": "definition", "offset": [1382, 1417]}, {"key": "benefits-to-be-provided", "type": "clause", "offset": [1440, 1463]}, {"key": "without-limiting-the", "type": "clause", "offset": [1611, 1631]}, {"key": "the-executive", "type": "clause", "offset": [1668, 1681]}, {"key": "for-any-reason", "type": "clause", "offset": [1732, 1746]}, {"key": "no-reason", "type": "clause", "offset": [1751, 1760]}, {"key": "for-purposes-of", "type": "clause", "offset": [1770, 1785]}, {"key": "compliance-with-409a", "type": "clause", "offset": [1786, 1806]}, {"key": "termination-of-employment", "type": "definition", "offset": [1809, 1834]}, {"key": "provision-of", "type": "clause", "offset": [1892, 1904]}, {"key": "separation-from-service", "type": "definition", "offset": [2053, 2076]}, {"key": "meaning-of", "type": "definition", "offset": [2089, 2099]}, {"key": "as-an-employee", "type": "clause", "offset": [2201, 2215]}, {"key": "references-to-a", "type": "definition", "offset": [2275, 2290]}], "hash": "db0f2cd40c6bbcfe59ecd05679d74f49", "id": 1}, {"size": 475, "samples": [{"hash": "us05v4VACy", "uri": "/contracts/us05v4VACy#code-section-409a", "label": "Employment Agreement (MidWestOne Financial Group, Inc.)", "score": 23.986995697, "published": true}, {"hash": "clFl3D6nlqu", "uri": "/contracts/clFl3D6nlqu#code-section-409a", "label": "Employment Agreement (MidWestOne Financial Group, Inc.)", "score": 23.986995697, "published": true}, {"hash": "bsdbtsap82Z", "uri": "/contracts/bsdbtsap82Z#code-section-409a", "label": "Employment Agreement (MidWestOne Financial Group, Inc.)", "score": 23.986995697, "published": true}], "snippet": "(a) To the extent any provision of this Agreement or action by the Company would subject the Executive to liability for interest or additional taxes under Code Section 409A, it shall be deemed null and void, to the extent permitted by law and deemed advisable by the Company. It is intended that this Agreement will comply with Code Section 409A, and this Agreement shall be administered accordingly and interpreted and construed on a basis consistent with such intent. Notwithstanding any provision of this Agreement to the contrary, no termination or similar payments or benefits shall be payable hereunder on account of the Executive's termination of employment unless such termination constitutes a \u201cseparation from service\u201d within the meaning of Code Section 409A. For purposes of Code Section 409A, all installment payments of deferred compensation made hereunder, or pursuant to another plan or arrangement, shall be deemed to be separate payments. To the extent any reimbursements or in-kind benefit payments under this Agreement are subject to Code Section 409A, such reimbursements and in-kind benefit payments shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv). This Agreement may be amended to the extent necessary (including retroactively) by the Company to avoid the application of taxes or interest under Code Section 409A, while maintaining to the maximum extent practicable the original intent of this Agreement. This Section 17 shall not be construed as a guarantee of any particular tax effect for the Executive's benefits under this Agreement and the Company does not guarantee that any such benefits will satisfy the provisions of Code Section 409A or any other provision of the Code.\n(b) Notwithstanding any provision of this Agreement to the contrary, if the Executive is determined to be a Specified Employee as of the Termination Date, then, to the extent required pursuant to Code Section 409A, payments due under this Agreement that are deemed to be deferred compensation shall be subject to a six (6)-month delay following the Termination Date; and all delayed payments shall be accumulated and paid in a lump-sum payment as of the first day of the seventh month following the Termination Date (or, if earlier, as of the Executive's death), with all such delayed payments being credited with interest (compounded monthly) for this period of delay equal to the prime rate in effect on the first day of such six (6)-month period. Any portion of the benefits hereunder that were not otherwise due to be paid during the six (6)-month period following the Termination Date shall be paid to the Executive in accordance with the payment schedule established herein.", "snippet_links": [{"key": "agreement-or", "type": "definition", "offset": [40, 52]}, {"key": "action-by-the-company", "type": "clause", "offset": [53, 74]}, {"key": "liability-for-interest", "type": "clause", "offset": [106, 128]}, {"key": "additional-taxes", "type": "definition", "offset": [132, 148]}, {"key": "null-and-void", "type": "clause", "offset": [193, 206]}, {"key": "to-the-extent-permitted-by-law", "type": "clause", "offset": [208, 238]}, {"key": "comply-with", "type": "clause", "offset": [316, 327]}, {"key": "consistent-with", "type": "clause", "offset": [441, 456]}, {"key": "agreement-to", "type": "definition", "offset": [508, 520]}, {"key": "no-termination", "type": "clause", "offset": [535, 549]}, {"key": "of-the-executive", "type": "clause", 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"/contracts/474zhB7xR33#code-section-409a", "label": "Stock Option Agreement (Teamshares Inc)", "score": 37.4791221619, "published": true}, {"hash": "6i0ntVJ0fRb", "uri": "/contracts/6i0ntVJ0fRb#code-section-409a", "label": "Stock Option Agreement (Matternet, Inc.)", "score": 35.4052009583, "published": true}, {"hash": "bdplXylPgBq", "uri": "/contracts/bdplXylPgBq#code-section-409a", "label": "Stock Option Agreement (Figure Technology Solutions, Inc.)", "score": 34.6906242371, "published": true}], "snippet": "Under Code Section 409A, an Option that vests after December 31, 2004 (or that vested on or prior to such date but which was materially modified after October 3, 2004) that was granted with a per Share exercise price that is determined by the Internal Revenue Service (the \u201cIRS\u201d) to be less than the Fair Market Value of a Share on the date of grant (a \u201cdiscount option\u201d) may be considered \u201cdeferred compensation.\u201d An Option that is a \u201cdiscount option\u201d may result in (i) income recognition by Participant prior to the exercise of the Option, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The \u201cdiscount option\u201d may also result in additional state income, penalty and interest tax to the Participant. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree that the per Share exercise price of this Option equals or exceeds the Fair Market Value of a Share on the date of grant in a later examination. Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less than the Fair Market Value of a Share on the date of grant, Participant shall be solely responsible for Participant\u2019s costs related to such a determination.", "snippet_links": [{"key": "after-december", "type": "clause", "offset": [46, 60]}, {"key": "per-share-exercise-price", "type": "definition", "offset": [192, 216]}, {"key": "the-internal-revenue-service", "type": "definition", "offset": [239, 267]}, {"key": "fair-market-value-of-a-share", "type": "definition", "offset": [300, 328]}, {"key": "date-of-grant", "type": "clause", "offset": [336, 349]}, {"key": "discount-option", "type": "definition", "offset": [354, 369]}, {"key": "deferred-compensation", "type": "definition", "offset": [391, 412]}, {"key": "income-recognition", "type": "definition", "offset": [471, 489]}, {"key": "by-participant", "type": "clause", "offset": [490, 504]}, {"key": "prior-to-the", "type": "clause", "offset": [505, 517]}, {"key": "exercise-of-the-option", "type": "clause", "offset": [518, 540]}, {"key": "an-additional", "type": "clause", "offset": [547, 560]}, {"key": "federal-income-tax", "type": "definition", "offset": [582, 600]}, {"key": "interest-charges", "type": "definition", "offset": [634, 650]}, {"key": "the-participant", "type": "clause", "offset": [746, 761]}, {"key": "the-company", "type": "clause", "offset": [793, 804]}, {"key": "not-guaranteed", "type": "clause", "offset": [820, 834]}, {"key": "participant-shall", "type": "clause", "offset": [1184, 1201]}, {"key": "for-participant", "type": "clause", "offset": [1224, 1239]}, {"key": "related-to", "type": "clause", "offset": [1248, 1258]}], "hash": "3baaee889619adcefea8695e6e62f7ad", "id": 8}, {"size": 336, "samples": [{"hash": "e5XsFUy0jQP", "uri": "/contracts/e5XsFUy0jQP#code-section-409a", "label": "Employment Agreement (Six Flags Entertainment Corporation/New)", "score": 37.3449707031, "published": true}, {"hash": "5nqfsusK2D4", "uri": "/contracts/5nqfsusK2D4#code-section-409a", "label": "Employment Agreement (Six Flags Entertainment Corporation/New)", "score": 37.1533203125, "published": true}, {"hash": "jcT1j9SGcgE", "uri": "/contracts/jcT1j9SGcgE#code-section-409a", "label": "Employment Agreement (Six Flags Entertainment Corporation/New)", "score": 35.847366333, "published": true}], "snippet": "Notwithstanding anything to the contrary contained in this Agreement:\n(a) The parties agree that this Agreement shall be interpreted to comply with or, to the extent possible, be exempt from Section 409A of the Code, and the regulations and guidance promulgated thereunder to the extent applicable (collectively \u201cCode Section 409A\u201d), and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. Except to the extent attributable to a breach of this Agreement by the Company, in no event whatsoever will the Company be liable for any additional tax, interest or penalties that may be imposed on Executive under Code Section 409A or any damages for failing to comply with Code Section 409A.\n(b) A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits considered \u201cnonqualified deferred compensation\u201d under Code Section 409A upon or following a termination of employment unless such termination is also a \u201cseparation from service\u201d within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a \u201ctermination,\u201d \u201ctermination of employment\u201d or like terms shall mean \u201cseparation from service.\u201d If Executive is deemed on the date of termination to be a \u201cspecified employee\u201d within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of a \u201cseparation from service,\u201d if no exemption or exclusion from Section 409 (A) is determined to apply, such payment or benefit shall not be made or provided until the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such \u201cseparation from service\u201d of Executive, and (ii) the date of Executive\u2019s death (the \u201cDelay Period\u201d). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 12.7(b) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to Executive in a lump sum with interest at the prime rate during the Delay Period, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates and in the normal payment forms specified for them herein.\n(c) With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits, to be provided in any other taxable year, provided that this clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Code Section 105(b) solely because such expenses are subject to a limit related to the period the arrangement is in effect and (iii) such payments shall be made on or before the last day of Executive\u2019s taxable year following the taxable year in which the expense occurred.\n(d) For purposes of Code Section 409A, Executive\u2019s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., \u201cpayment shall be made within thirty (30) days following the date of termination\u201d), the actual date of payment within the specified period shall be within the sole discretion of the Company, unless provided otherwise herein.", "snippet_links": [{"key": "in-this-agreement", "type": "definition", "offset": [51, 68]}, {"key": "the-parties-agree-that", "type": "clause", "offset": [74, 96]}, {"key": "comply-with", "type": "clause", "offset": [136, 147]}, {"key": "section-409a-of-the-code", "type": "definition", "offset": [191, 215]}, {"key": "the-regulations", "type": "clause", "offset": [221, 236]}, {"key": "provisions-of-this-agreement", "type": "clause", "offset": [342, 370]}, {"key": "requirements-for", "type": "clause", "offset": [422, 438]}, {"key": "except-to-the-extent", "type": "clause", "offset": [492, 512]}, {"key": "breach-of-this-agreement-by-the-company", "type": "clause", "offset": [531, 570]}, {"key": "in-no-event", "type": "clause", "offset": [572, 583]}, {"key": "additional-tax", "type": "definition", "offset": [630, 644]}, {"key": "termination-of-employment", "type": "definition", "offset": [792, 817]}, {"key": "for-purposes-of", "type": "clause", "offset": [855, 870]}, {"key": "provision-of", "type": "clause", "offset": [875, 887]}, {"key": "payment-of", "type": "clause", "offset": [921, 931]}, {"key": "nonqualified-deferred-compensation", "type": "clause", "offset": [968, 1002]}, {"key": "separation-from-service", "type": "definition", "offset": [1109, 1132]}, {"key": "meaning-of", "type": "definition", "offset": [1145, 1155]}, {"key": "references-to-a", "type": "definition", "offset": [1233, 1248]}, {"key": "date-of-termination", "type": "definition", "offset": [1374, 1393]}, {"key": "specified-employee", "type": "clause", "offset": [1403, 1421]}, {"key": "with-regard-to", "type": "clause", "offset": [1494, 1508]}, {"key": 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"in-effect", "type": "definition", "offset": [3368, 3377]}, {"key": "payments-shall-be", "type": "clause", "offset": [3393, 3410]}, {"key": "day-of", "type": "clause", "offset": [3438, 3444]}, {"key": "right-to-receive", "type": "clause", "offset": [3579, 3595]}, {"key": "payments-pursuant-to-this-agreement", "type": "clause", "offset": [3612, 3647]}, {"key": "separate-and-distinct", "type": "clause", "offset": [3699, 3720]}, {"key": "payment-period", "type": "clause", "offset": [3783, 3797]}, {"key": "number-of-days", "type": "definition", "offset": [3818, 3832]}, {"key": "within-thirty", "type": "clause", "offset": [3863, 3876]}, {"key": "date-of-payment", "type": "clause", "offset": [3935, 3950]}, {"key": "specified-period", "type": "clause", "offset": [3962, 3978]}, {"key": "discretion-of-the-company", "type": "clause", "offset": [4004, 4029]}], "hash": "b4947c9ffb04793eb0d902cd45de6199", "id": 3}, {"size": 241, "samples": [{"hash": "imidAmCsuKU", "uri": "/contracts/imidAmCsuKU#code-section-409a", "label": "Performance Restricted Stock Unit Agreement (Abbott Laboratories)", "score": 35.3175888062, "published": true}, {"hash": "bRTYuigWRPq", "uri": "/contracts/bRTYuigWRPq#code-section-409a", "label": "Restricted Stock Unit Agreement (Abbott Laboratories)", "score": 35.3175888062, "published": true}, {"hash": "b4IORhXht8V", "uri": "/contracts/b4IORhXht8V#code-section-409a", "label": "Performance Restricted Stock Unit Agreement (Abbott Laboratories)", "score": 35.3175888062, "published": true}], "snippet": "Payments made pursuant to this Agreement are intended to be exempt from or to otherwise comply with the provisions of Code Section 409A to the extent applicable. The Program and this Agreement shall be administered and interpreted in a manner consistent with this intent. If the Company determines that any payments under this Agreement are subject to Code Section 409A and this Agreement fails to comply with that section\u2019s requirements, the Company may, at the Company\u2019s sole discretion, and without the Employee\u2019s consent, amend this Agreement to cause it to comply with Code Section 409A or otherwise be exempt from Code Section 409A. To the extent required to avoid accelerated taxation and/or tax penalties under Code Section 409A and applicable guidance issued thereunder, the Employee shall not be deemed to have had a Termination unless the Employee has incurred a \u201cseparation from service\u201d as defined in Treasury Regulation \u00a71.409A-1(h), and amounts that would otherwise be payable pursuant to this Agreement during the six-month period immediately following the Employee\u2019s Termination (including Retirement) shall instead be paid on the first business day after the date that is six (6) months following the Employee\u2019s Termination (or upon the Employee\u2019s death, if earlier). For purposes of Code Section 409A, to the extent applicable: (i) all payments provided hereunder shall be treated as a right to a series of separate payments and each separately identified amount to which the Employee is entitled under this Agreement shall be treated as a separate payment; (ii) the term \u201cas soon as administratively possible\u201d means a period of time that is within 60 days after the Termination due to death or Disability (as applicable); and (iii) the date of the Employee\u2019s Disability shall be determined by the Company in its sole discretion. Although this Agreement and the payments provided hereunder are intended to be exempt from or to otherwise comply with the requirements of Code Section 409A, the Company does not represent or warrant that this Agreement or the payments provided hereunder will comply with Code Section 409A or any other provision of federal, state, local, or non-United States law. None of the Company, its Subsidiaries, or their respective directors, officers, employees or advisers shall be liable to the Employee (or any other individual claiming a benefit through the Employee) for any tax, interest, or penalties the Employee may owe as a result of compensation paid under this Agreement, and the Company and its Subsidiaries shall have no obligation to indemnify or otherwise protect the Employee from the obligation to pay any taxes pursuant to Code Section 409A.", "snippet_links": [{"key": "pursuant-to-this-agreement", "type": "clause", "offset": [14, 40]}, {"key": "the-provisions-of", "type": "clause", "offset": [100, 117]}, {"key": "to-the-extent", "type": "clause", "offset": [136, 149]}, {"key": "the-program", "type": "clause", "offset": [162, 173]}, {"key": "consistent-with", "type": "clause", "offset": [243, 258]}, {"key": "payments-under-this-agreement", "type": "clause", "offset": [307, 336]}, {"key": "subject-to", "type": "definition", "offset": [341, 351]}, {"key": "sole-discretion", "type": "definition", "offset": [473, 488]}, {"key": "agreement-to", "type": "definition", "offset": [537, 549]}, {"key": "tax-penalties", "type": "clause", "offset": [699, 712]}, {"key": "applicable-guidance", "type": "clause", "offset": [741, 760]}, {"key": "the-employee-shall", "type": "clause", "offset": [780, 798]}, {"key": "a-termination", "type": "definition", "offset": [825, 838]}, {"key": "employee-has", "type": "clause", "offset": [850, 862]}, {"key": "separation-from-service", "type": "definition", "offset": [875, 898]}, {"key": "treasury-regulation", "type": "clause", "offset": [914, 933]}, {"key": "following-the", "type": "definition", "offset": [1059, 1072]}, {"key": "business-day", "type": "definition", "offset": [1154, 1166]}, {"key": "for-purposes-of", "type": "clause", "offset": [1286, 1301]}, {"key": "all-payments", "type": "definition", "offset": [1351, 1363]}, {"key": "right-to", "type": "definition", "offset": [1405, 1413]}, {"key": "separate-payments", "type": "definition", "offset": [1426, 1443]}, {"key": "identified-amount", "type": "definition", "offset": [1464, 1481]}, {"key": "a-separate", "type": "definition", "offset": [1557, 1567]}, {"key": "period-of-time", "type": "clause", "offset": [1638, 1652]}, {"key": "days-after", "type": "definition", "offset": [1671, 1681]}, {"key": "termination-due-to-death-or-disability", "type": "clause", "offset": [1686, 1724]}, {"key": "date-of", "type": "clause", "offset": [1756, 1763]}, {"key": "company-in", "type": "clause", "offset": [1817, 1827]}, {"key": "the-requirements", "type": "clause", "offset": [1968, 1984]}, {"key": "agreement-or", "type": "definition", "offset": [2059, 2071]}, {"key": "provision-of", "type": "clause", "offset": [2152, 2164]}, {"key": "united-states-law", "type": "clause", "offset": [2195, 2212]}, {"key": "of-the-company", "type": "clause", "offset": [2219, 2233]}, {"key": "to-the-employee", "type": "clause", "offset": [2332, 2347]}, {"key": "other-individual", "type": "definition", "offset": [2356, 2372]}, {"key": "compensation-paid", "type": "clause", "offset": [2486, 2503]}, {"key": "the-company-and-its-subsidiaries", "type": "clause", "offset": [2530, 2562]}, {"key": "no-obligation-to-indemnify", "type": "clause", "offset": [2574, 2600]}, {"key": "obligation-to-pay", "type": "clause", "offset": [2644, 2661]}], "hash": "8f93b1caed6819624999aedd6d711fa6", "id": 4}, {"size": 210, "samples": [{"hash": "aQmeh5m1dlB", "uri": "/contracts/aQmeh5m1dlB#code-section-409a", "label": "Employment Agreement (New Home Co Inc.)", "score": 30.5742645264, "published": true}, {"hash": "bINJoxGUo6J", "uri": "/contracts/bINJoxGUo6J#code-section-409a", "label": "Employment Agreement (New Home Co Inc.)", "score": 28.3182754517, "published": true}, {"hash": "cCHxxVozdVw", "uri": "/contracts/cCHxxVozdVw#code-section-409a", "label": "Employment Agreement (UCP, Inc.)", "score": 28.0910339355, "published": true}], "snippet": "This Agreement is intended to comply with the requirements of Section 409A of the Code, and shall be interpreted and construed consistently with such intent. The payments to Executive pursuant to this Agreement are also intended to be exempt from Section 409A of the Code to the maximum extent possible, under either the separation pay exemption pursuant to Treasury regulation \u00a71.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation \u00a71.409A-1(b)(4), and for such purposes, each payment to Executive under this Agreement shall be considered a separate payment. In the event the terms of this Agreement would subject Executive to taxes or penalties under Section 409A of the Code (\u201c409A Penalties\u201d), the Company and Executive shall cooperate diligently to amend the terms of the Agreement to avoid such 409A Penalties, to the extent possible; provided that in no event shall the Company be responsible for any 409A Penalties that arise in connection with any amounts payable under this Agreement. To the extent any amounts under this Agreement are payable by reference to Executive\u2019s \u201ctermination of employment\u201d such term and similar terms shall be deemed to refer to Executive\u2019s \u201cseparation from service,\u201d within the meaning of Section 409A of the Code. Notwithstanding any other provision in this Agreement, to the extent any payments hereunder constitutes nonqualified deferred compensation, within the meaning of Section 409A, and Executive is a specified employee (within the meaning of Section 409A of the Code) as of the date of Executive\u2019s separation from service, each such payment that is payable upon Executive\u2019s separation from service and would have been paid prior to the six-month anniversary of Executive\u2019s separation from service, shall be delayed until the earlier to occur of (i) the first day of the seventh month following Executive\u2019s separation from service or (ii) the date of Executive\u2019s death. Any reimbursement payable to Executive pursuant to this Agreement shall be conditioned on the submission by Executive of all expense reports reasonably required by Employer under any applicable expense reimbursement policy, and shall be paid to Executive within 30 days following receipt of such expense reports, but in no event later than the last day of the calendar year following the calendar year in which Executive incurred the reimbursable expense. Any amount of expenses eligible for reimbursement, or in-kind benefit provided, during a calendar year shall not affect the amount of expenses eligible for reimbursement, or in-kind benefit to be provided, during any other calendar year. The right to any reimbursement or in-kind benefit pursuant to this Agreement shall not be subject to liquidation or exchange for any other benefit.", "snippet_links": [{"key": "the-requirements", "type": "clause", "offset": [42, 58]}, {"key": "section-409a-of-the-code", "type": "definition", "offset": [62, 86]}, {"key": "payments-to-executive", "type": "clause", "offset": [162, 183]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [184, 210]}, {"key": "separation-pay-exemption", "type": "clause", "offset": [321, 345]}, {"key": "treasury-regulation", "type": "clause", "offset": [358, 377]}, {"key": "payment-to-executive", "type": "clause", "offset": [503, 523]}, {"key": "separate-payment", "type": "definition", "offset": [567, 583]}, {"key": "in-the-event-the", "type": "clause", "offset": [585, 601]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [602, 625]}, {"key": "company-and-executive", "type": "clause", "offset": [727, 748]}, {"key": "to-amend", "type": "definition", "offset": [776, 784]}, {"key": "agreement-to", "type": "definition", "offset": [802, 814]}, {"key": "to-the-extent", "type": "clause", "offset": [842, 855]}, {"key": "provided-that", "type": "clause", "offset": [866, 879]}, {"key": "in-no-event-shall", "type": "clause", "offset": [880, 897]}, {"key": "responsible-for", "type": "clause", "offset": [913, 928]}, {"key": "in-connection-with", "type": "clause", "offset": [959, 977]}, {"key": "amounts-payable-under-this-agreement", "type": "clause", "offset": [982, 1018]}, {"key": "reference-to", "type": "clause", "offset": [1082, 1094]}, {"key": "termination-of-employment", "type": "definition", "offset": [1108, 1133]}, {"key": "similar-terms", "type": "clause", "offset": [1149, 1162]}, {"key": "refer-to", "type": "definition", "offset": [1182, 1190]}, {"key": "separation-from-service", "type": "definition", "offset": [1204, 1227]}, {"key": "meaning-of", "type": "definition", "offset": [1241, 1251]}, {"key": "notwithstanding-any-other-provision", "type": "clause", "offset": [1278, 1313]}, {"key": "in-this-agreement", "type": "definition", "offset": [1314, 1331]}, {"key": "payments-hereunder", "type": "clause", "offset": [1351, 1369]}, {"key": "nonqualified-deferred-compensation", "type": "clause", "offset": [1382, 1416]}, {"key": "specified-employee", "type": "clause", "offset": [1473, 1491]}, {"key": "date-of", "type": "clause", "offset": [1551, 1558]}, {"key": "upon-executive", "type": "definition", "offset": [1630, 1644]}, {"key": "prior-to-the", "type": "clause", "offset": [1696, 1708]}, {"key": "day-of", "type": "clause", "offset": [1832, 1838]}, {"key": "following-executive", "type": "definition", "offset": [1857, 1876]}, {"key": "payable-to", "type": "definition", "offset": [1960, 1970]}, {"key": "be-conditioned", "type": "clause", "offset": [2014, 2028]}, {"key": "by-executive", "type": "clause", "offset": [2047, 2059]}, {"key": "expense-reports", "type": "clause", "offset": [2067, 2082]}, {"key": "required-by-employer", "type": "clause", "offset": [2094, 2114]}, {"key": "expense-reimbursement-policy", "type": "definition", "offset": [2136, 2164]}, {"key": "receipt-of", "type": "clause", "offset": [2222, 2232]}, {"key": "last-day", "type": "definition", "offset": [2286, 2294]}, {"key": "calendar-year", "type": "clause", "offset": [2302, 2315]}, {"key": "following-the", "type": "definition", "offset": [2316, 2329]}, {"key": "reimbursable-expense", "type": "clause", "offset": [2376, 2396]}, {"key": "expenses-eligible-for-reimbursement", "type": "definition", "offset": [2412, 2447]}, {"key": "right-to", "type": "definition", "offset": [2640, 2648]}, {"key": "subject-to", "type": "definition", "offset": [2726, 2736]}, {"key": "other-benefit", "type": "clause", "offset": [2769, 2782]}], "hash": "8062a467aaff68f977be983a7677f112", "id": 5}, {"size": 210, "samples": [{"hash": "fGqxHgdAWSd", "uri": "/contracts/fGqxHgdAWSd#code-section-409a", "label": "Severance Agreement (Giga Tronics Inc)", "score": 31.4777545929, "published": true}, {"hash": "1k0I8abOmM8", "uri": "/contracts/1k0I8abOmM8#code-section-409a", "label": "Severance Agreement (Giga Tronics Inc)", "score": 31.4777545929, "published": true}], "snippet": "The parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A of the Code (collectively \u201cCode Section 409A\u201d), and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. In no event whatsoever will Company be liable for any additional tax, interest or penalties that may be imposed on Employee under Code Section 409A or any damages for failing to comply with Code Section 409A. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits considered \u201cnonqualified deferred compensation\u201d under Code Section 409A upon or following a termination of employment unless such termination is also a \u201cseparation from service\u201d within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a \u201ctermination,\u201d \u201ctermination of employment\u201d or like terms shall mean \u201cseparation from service.\u201d If Employee is deemed on the date of termination to be a \u201cspecified employee\u201d within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of a \u201cseparation from service,\u201d such payment or benefit shall be made or provided on the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such \u201cseparation from service\u201d of Employee, and (ii) the date of Employee\u2019s death (the \u201cDelay Period\u201d). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 9(a) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to Employee in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. For purposes of Code Section 409A, Employee\u2019s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., \u201cpayment shall be made within thirty (30) days following the date of termination\u201d), the actual date of payment within the specified period shall be within the sole discretion of the Company.", "snippet_links": [{"key": "the-parties-agree-that", "type": "clause", "offset": [0, 22]}, {"key": "comply-with", "type": "clause", "offset": [62, 73]}, {"key": "section-409a-of-the-code", "type": "definition", "offset": [92, 116]}, {"key": "provisions-of-this-agreement", "type": "clause", "offset": [161, 189]}, {"key": "requirements-for", "type": "clause", "offset": [241, 257]}, {"key": "in-no-event", "type": "clause", "offset": [311, 322]}, {"key": "additional-tax", "type": "definition", "offset": [365, 379]}, {"key": "termination-of-employment", "type": "definition", "offset": [522, 547]}, {"key": "for-purposes-of", "type": "clause", "offset": [585, 600]}, {"key": "provision-of", "type": "clause", "offset": [605, 617]}, {"key": "payment-of", "type": "clause", "offset": [651, 661]}, {"key": "nonqualified-deferred-compensation", "type": "clause", "offset": [698, 732]}, {"key": "separation-from-service", "type": "definition", "offset": [839, 862]}, {"key": "meaning-of", "type": "definition", "offset": [875, 885]}, {"key": "references-to-a", "type": "definition", "offset": [963, 978]}, {"key": "if-employee", "type": "definition", "offset": [1074, 1085]}, {"key": "date-of-termination", "type": "definition", "offset": [1103, 1122]}, {"key": "specified-employee", "type": "clause", "offset": [1132, 1150]}, {"key": "with-regard-to", "type": "clause", "offset": [1223, 1237]}, {"key": "expiration-of-the", "type": "clause", "offset": [1505, 1522]}, {"key": "of-employee", "type": "clause", "offset": [1601, 1612]}, {"key": "delay-period", "type": "clause", "offset": [1658, 1670]}, {"key": "payments-and-benefits", "type": "clause", "offset": [1719, 1740]}, {"key": "single-sum", "type": "clause", "offset": [1832, 1842]}, {"key": "business-day", "type": "definition", "offset": [1933, 1945]}, {"key": "following-the", "type": "definition", "offset": [1946, 1959]}, {"key": "to-employee", "type": "clause", "offset": [1991, 2002]}, {"key": "lump-sum", "type": "definition", "offset": [2008, 2016]}, {"key": "remaining-payments", "type": "clause", "offset": [2026, 2044]}, {"key": "in-accordance-with", "type": "definition", "offset": [2109, 2127]}, {"key": "payment-dates", "type": "clause", "offset": [2139, 2152]}, {"key": "right-to-receive", "type": "clause", "offset": [2226, 2242]}, {"key": "payments-pursuant-to-this-agreement", "type": "clause", "offset": [2259, 2294]}, {"key": "separate-and-distinct", "type": "clause", "offset": [2346, 2367]}, {"key": "payment-period", "type": "clause", "offset": [2430, 2444]}, {"key": "number-of-days", "type": "definition", "offset": [2465, 2479]}, {"key": "within-thirty", "type": "clause", "offset": [2510, 2523]}, {"key": "date-of-payment", "type": "clause", "offset": [2582, 2597]}, {"key": "specified-period", "type": "clause", "offset": [2609, 2625]}, {"key": "discretion-of-the-company", "type": "clause", "offset": [2651, 2676]}], "hash": "bf3a32da1a954ed51196d1d6d27c5ddd", "id": 6}, {"size": 177, "samples": [{"hash": "iIxTo0hNLDj", "uri": "/contracts/iIxTo0hNLDj#code-section-409a", "label": "Employment Severance Agreement (Tandem Diabetes Care Inc)", "score": 36.1540031433, "published": true}, {"hash": "hlt7CiKzY4L", "uri": "/contracts/hlt7CiKzY4L#code-section-409a", "label": "Severance Agreement (Tandem Diabetes Care Inc)", "score": 35.5817947388, "published": true}, {"hash": "b1i4VChe2AT", "uri": "/contracts/b1i4VChe2AT#code-section-409a", "label": "Employment Severance Agreement", "score": 31.3408622742, "published": true}], "snippet": "(i) Notwithstanding anything to the contrary in this Agreement, if the Employee is a \u201cspecified employee\u201d within the meaning of Section 409A at the time of the Employee\u2019s termination (other than due to death), then the severance payable to the Employee, if any, pursuant to this Agreement, together with any other severance payments or separation benefits that are considered deferred compensation under Section 409A (together, the \u201cDeferred Compensation Separation Benefits\u201d), that are payable within the first six (6) months following the Employee\u2019s termination of employment will become payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of the Employee\u2019s termination of employment. All subsequent Deferred Compensation Separation Benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if the Employee dies following the Employee\u2019s termination but prior to the six (6) month anniversary of the Employee\u2019s termination, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of the Employee\u2019s death and all other Deferred Compensation Separation Benefits will be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations.\n(ii) Any amount paid under this Agreement that satisfies the requirements of the \u201cshort-term deferral\u201d rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations shall not constitute Deferred Compensation Separation Benefits for purposes of clause (i) above.\n(iii) Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that do not exceed the Section 409A Limit shall not constitute Deferred Compensation Separation Benefits for purposes of clause (i) above. For purposes of this Agreement, \u201cSection 409A Limit\u201d shall mean the lesser of two (2) times: (i) the Employee\u2019s annualized compensation based upon the annual rate of pay paid to the Employee during the Company\u2019s taxable year preceding the Company\u2019s taxable year of the Employee\u2019s termination of employment as determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the Employee\u2019s employment is terminated.", "snippet_links": [{"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [4, 44]}, {"key": "in-this-agreement", "type": "definition", "offset": [45, 62]}, {"key": "specified-employee", "type": "clause", "offset": [86, 104]}, {"key": "meaning-of", "type": "definition", "offset": [117, 127]}, {"key": "time-of-the", "type": "clause", "offset": [148, 159]}, {"key": "other-than-due-to-death", "type": "clause", "offset": [184, 207]}, {"key": "to-the-employee", "type": "clause", "offset": [237, 252]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [262, 288]}, {"key": "other-severance-payments", "type": "clause", "offset": [308, 332]}, {"key": "deferred-compensation-separation-benefits", "type": "definition", "offset": [433, 474]}, {"key": "payable-within", "type": "definition", "offset": [487, 501]}, {"key": "following-the", "type": "definition", "offset": [527, 540]}, {"key": "termination-of-employment", "type": "definition", "offset": [552, 577]}, {"key": "payroll-date", "type": "clause", "offset": [611, 623]}, {"key": "date-of", "type": "clause", "offset": [702, 709]}, {"key": "in-accordance-with", "type": "definition", "offset": [834, 852]}, {"key": "payment-schedule", "type": "definition", "offset": [857, 873]}, {"key": "applicable-to", "type": "definition", "offset": [874, 887]}, {"key": "employee-dies", "type": "clause", "offset": [969, 982]}, {"key": "prior-to-the", "type": "clause", "offset": [1024, 1036]}, {"key": "lump-sum", "type": "definition", "offset": [1175, 1183]}, {"key": "benefits-will", "type": "clause", "offset": [1310, 1323]}, {"key": "for-purposes-of-section", "type": "clause", "offset": [1512, 1535]}, {"key": "treasury-regulations", "type": "clause", "offset": [1558, 1578]}, {"key": "amount-paid", "type": "clause", "offset": [1589, 1600]}, {"key": "requirements-of-the", "type": "clause", "offset": [1641, 1660]}, {"key": "rule-set", "type": "definition", "offset": [1683, 1691]}, {"key": "benefits-for", "type": "clause", "offset": [1806, 1818]}, {"key": "involuntary-separation-from-service", "type": "definition", "offset": [1943, 1978]}, {"key": "pursuant-to-section", "type": "definition", "offset": [1979, 1998]}, {"key": "section-409a-limit", "type": "definition", "offset": [2070, 2088]}, {"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [2186, 2216]}, {"key": "lesser-of", "type": "definition", "offset": [2254, 2263]}, {"key": "annualized-compensation", "type": "clause", "offset": [2298, 2321]}, {"key": "annual-rate-of-pay", "type": "clause", "offset": [2337, 2355]}, {"key": "the-company", "type": "clause", "offset": [2384, 2395]}, {"key": "taxable-year", "type": "clause", "offset": [2398, 2410]}, {"key": "internal-revenue-service", "type": "definition", "offset": [2566, 2590]}, {"key": "maximum-amount", "type": "definition", "offset": [2641, 2655]}, {"key": "qualified-plan", "type": "definition", "offset": [2695, 2709]}, {"key": "the-code", "type": "clause", "offset": [2744, 2752]}, {"key": "the-year", "type": "definition", "offset": [2757, 2765]}, {"key": "employment-is-terminated", "type": "clause", "offset": [2790, 2814]}], "hash": "901642aeffd43ecf0fd095130ab34d24", "id": 7}, {"size": 119, "samples": [{"hash": "4ihoiMlcBW5", "uri": "/contracts/4ihoiMlcBW5#code-section-409a", "label": "Employment Agreement (Orthofix International N V)", "score": 22.4537982941, "published": true}, {"hash": "i6qJ8hm4eak", "uri": "/contracts/i6qJ8hm4eak#code-section-409a", "label": "Employment Agreement (Orthofix International N V)", "score": 21.585899353, "published": true}, {"hash": "gxgv2STRbO2", "uri": "/contracts/gxgv2STRbO2#code-section-409a", "label": "Employment Agreement (Orthofix International N V)", "score": 21.585899353, "published": true}], "snippet": "(a) It is the intent of the parties that payments and benefits under this Agreement comply with Section 409A and, accordingly, to interpret, to the maximum extent permitted, this Agreement to be in compliance therewith. If the Executive notifies the Company in writing (with specificity as to the reason therefore) that the Executive believes that any provision of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause the Executive to incur any additional tax or interest under Section 409A and the Company concurs with such belief or the Company (without any obligation whatsoever to do so) independently makes such determination, the parties shall, in good faith, reform such provision to try to comply with Code Section 409A through good faith modifications to the minimum extent reasonably appropriate to conform with Code Section 409A. To the extent that any provision hereof is modified by the parties to try to comply with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent of the applicable provision without violating the provisions of Code Section 409A. Notwithstanding the foregoing, the Company shall not be required to assume any economic burden in connection therewith.\n(b) If the Executive is deemed on the date of \u201cseparation from service\u201d to be a \u201cspecified employee\u201d within the meaning of that term under Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is specified as subject to this Section, such payment or benefit shall be made or provided at the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such \u201cseparation from service\u201d of the Executive, and (B) the date of the Executive\u2019s death (the \u201cDelay Period\u201d). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 7.16 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. If a payment is to be made promptly after a date, it shall be made within sixty (60) days thereafter.\n(c) Any expense reimbursement under this Agreement shall be made promptly upon Executive\u2019s presentation to the Company of evidence of the fees and expenses incurred by the Executive and in all events on or before the last day of the taxable year following the taxable year in which such expense was incurred by the Executive, and no such reimbursement or the amount of expenses eligible for reimbursement in any taxable year shall in any way affect the expenses eligible for reimbursement in any other taxable year, except for (i) the limit on the amount of outplacement costs and expenses reimbursable pursuant to Section 5.1(c) and (ii) any limit on the amount of expenses that may be reimbursed under an arrangement described in Code Section 105(b).", "snippet_links": [{"key": "intent-of-the-parties", "type": "clause", "offset": [14, 35]}, {"key": "benefits-under-this-agreement", 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[1499, 1513]}, {"key": "subject-to", "type": "definition", "offset": [1579, 1589]}, {"key": "expiration-of-the", "type": "clause", "offset": [1698, 1715]}, {"key": "of-the-executive", "type": "clause", "offset": [1794, 1810]}, {"key": "delay-period", "type": "clause", "offset": [1860, 1872]}, {"key": "all-payments", "type": "definition", "offset": [1917, 1929]}, {"key": "section-716", "type": "clause", "offset": [1968, 1980]}, {"key": "single-sum", "type": "clause", "offset": [2034, 2044]}, {"key": "to-the-executive", "type": "clause", "offset": [2122, 2138]}, {"key": "lump-sum", "type": "definition", "offset": [2144, 2152]}, {"key": "remaining-payments", "type": "clause", "offset": [2162, 2180]}, {"key": "in-accordance-with", "type": "definition", "offset": [2245, 2263]}, {"key": "payment-dates", "type": "clause", "offset": [2275, 2288]}, {"key": "expense-reimbursement", "type": "definition", "offset": [2426, 2447]}, {"key": "upon-executive", "type": "definition", "offset": [2492, 2506]}, {"key": "to-the-company", "type": "definition", "offset": [2522, 2536]}, {"key": "evidence-of", "type": "definition", "offset": [2540, 2551]}, {"key": "expenses-incurred", "type": "clause", "offset": [2565, 2582]}, {"key": "by-the-executive", "type": "clause", "offset": [2583, 2599]}, {"key": "all-events", "type": "clause", "offset": [2607, 2617]}, {"key": "day-of", "type": "clause", "offset": [2640, 2646]}, {"key": "taxable-year", "type": "clause", "offset": [2651, 2663]}, {"key": "following-the", "type": "definition", "offset": [2664, 2677]}, {"key": "expenses-eligible-for-reimbursement", "type": "definition", "offset": [2787, 2822]}, {"key": "expenses-reimbursable", "type": "clause", "offset": [2999, 3020]}, {"key": "pursuant-to-section", "type": "definition", "offset": [3021, 3040]}], "hash": "1ef364799efed372e763dc28e3a1d370", "id": 9}, {"size": 119, "samples": [{"hash": "hBKHm6v6QXH", "uri": "/contracts/hBKHm6v6QXH#code-section-409a", "label": "Executive Employment Agreement (Seattle Genetics Inc /Wa)", "score": 27.8199863434, "published": true}, {"hash": "gWwgxRzrPNW", "uri": "/contracts/gWwgxRzrPNW#code-section-409a", "label": "Executive Employment Agreement (Seattle Genetics Inc /Wa)", "score": 27.8199863434, "published": true}, {"hash": "f0NFfX8ovOQ", "uri": "/contracts/f0NFfX8ovOQ#code-section-409a", "label": "Executive Employment Agreement (Seattle Genetics Inc /Wa)", "score": 27.8199863434, "published": true}], "snippet": "This Agreement shall be interpreted to avoid any penalty sanctions under Section 409A of the Code and the final regulations and any guidance promulgated thereunder (\u201cSection 409A\u201d). If any payment or benefit cannot be provided or made at the time specified herein without incurring sanctions under Section 409A, then such benefit or payment shall be provided in full at the earliest time thereafter when such sanctions will not be imposed. All payments to be made upon a termination of employment under this Agreement may be made only upon a \u201cseparation of service\u201d under Section 409A. Notwithstanding anything to the contrary in this Agreement, if at the time of Executive\u2019s termination of employment, Executive is a \u201cspecified employee\u201d within the meaning of Section 409A, and the deferral of the commencement of any severance payments or benefits otherwise payable pursuant to this Agreement as a result of such termination of employment is necessary in order to prevent any accelerated income recognition or additional tax under Section 409A(a)(1), then the Company will not commence any payment of any such severance payments or benefits otherwise required hereunder (but without any reduction in such payments or benefits ultimately paid or provided to Executive) that (a) will not and may not under any circumstances, regardless of when such termination occurs, be paid in full by March 15 of the year following Executive\u2019s termination (or two and one half (2 1\u20442) months after the close of the Company\u2019s fiscal year, if later), and (b) are in excess of the lesser of (i) two (2) times Executive\u2019s then annual compensation or (ii) two (2) times the limit on compensation set forth in Section 401(a)(17) of the Code for the year in which Executive\u2019s employment is terminated and will not be paid by the end of the second calendar year following the year in which the termination occurs, until the first payroll date that occurs after the date that is six (6) months following Executive\u2019s \u201cseparation of service\u201d with the Company (as defined under Code Section 409A). If any payments are delayed due to such requirements, such amounts will be paid in a lump sum to Executive on the earliest of (x) Executive\u2019s death following the date of Executive\u2019s termination of employment with the Company or (y) the first payroll date that occurs after the date that is six (6) months following Executive\u2019s \u201cseparation of service\u201d with the Company. For these purposes, each severance payment or benefit is designated as a separate payment or benefit and will not collectively be treated as a single payment or benefit. This provision is intended to comply with the requirements of Code Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. The Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under Section 409A. Notwithstanding anything to the contrary set forth in this Agreement, to the extent that any amendment to this Agreement with respect to the payment of any severance payments or benefits would constitute under Section 409A a delay or acceleration in a payment or a change in the form of payment, then such amendment must be done in a manner that complies with Section 409A(a)(4)(C).", "snippet_links": [{"key": "section-409a-of-the-code", "type": "definition", "offset": [73, 97]}, {"key": "final-regulations", "type": "clause", "offset": [106, 123]}, {"key": "at-the-time", "type": "clause", "offset": [235, 246]}, {"key": "payments-to-be-made", "type": "clause", "offset": [444, 463]}, {"key": "a-termination", "type": "definition", "offset": [469, 482]}, {"key": "separation-of-service", "type": "definition", "offset": [543, 564]}, {"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [586, 626]}, {"key": "in-this-agreement", "type": "definition", "offset": [627, 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"Miscellaneous"], ["tax-obligations", "Tax Obligations"], ["agreement", "Agreement"], ["general-provisions", "General Provisions"], ["miscellaneous-provisions", "Miscellaneous Provisions"]], "id": "code-section-409a", "related": [["section-409a", "Section 409A", "Section 409A"], ["code-section-409a-compliance", "Code Section 409A Compliance", "<strong>Code Section 409A</strong> Compliance"], ["code-section-280g", "Code Section 280G", "Code Section 280G"], ["409a", "409A", "409A"], ["internal-revenue-code-section-409a", "Internal Revenue Code Section 409A", "Internal Revenue <strong>Code Section 409A</strong>"]], "related_snippets": [], "updated": "2026-10-22T07:16:10+00:00", "also_ask": ["What are the essential drafting elements to ensure 409A compliance and avoid inadvertent violations?", "How can 409A provisions be strategically negotiated to maximize flexibility for both employer and employee?", "What are the most common pitfalls or fatal flaws in 409A clauses that trigger severe tax penalties?", "How do 409A requirements compare to other deferred compensation regulations, such as Section 457 or state law equivalents?", "What are the key factors courts consider when determining the enforceability of 409A provisions in litigation?"], "drafting_tip": "Specify compliance requirements, define key terms, and outline tax consequences to ensure enforceability, prevent ambiguity, and mitigate potential penalties under Section 409A.", "explanation": "The Code Section 409A clause governs the tax treatment of nonqualified deferred compensation plans to ensure compliance with Internal Revenue Service (IRS) regulations. It typically outlines requirements for the timing of deferral elections, distributions, and restrictions on accelerating or delaying payments. For example, it may specify that deferred compensation cannot be paid out earlier than a set date or event, such as separation from service or a change in control. The core function of this clause is to prevent adverse tax consequences for both employers and employees by ensuring that deferred compensation arrangements are structured in accordance with federal tax law."}, "json": true, "cursor": ""}}