Executive is Solely Responsible for Code Section 409A Violations Clause Samples

Executive is Solely Responsible for Code Section 409A Violations. Executive understands and agrees that, in the event of a Code Section 409A violation, Executive will be solely responsible for any and all resulting taxes and penalties, and furthermore agrees that she shall not seek, in any manner, to hold Employer responsible, financially or otherwise, for any such potential taxes and/or penalties she may incur as a result of a Code Section 409A violation. Executive further acknowledges and agrees that, in the event of a Code Section 409A violation, Employer’s sole obligation under this Agreement shall be to reasonably cooperate with Executive in good faith.