Common use of Exemption from Code Section 409A Clause in Contracts

Exemption from Code Section 409A. The benefits under this Agreement are intended to be exempt from the requirements of Code Section 409A by reason of all payments under this Agreement being either “short-term deferrals” within the meaning of Treasury Regulation Section 1.409A-1(b)(4) or separation pay due to involuntary separation from service under Treasury Regulation Section 1.409A-1(b)(9)(iii). All provisions of this Agreement shall be interpreted in a manner consistent with preserving these exemptions.

Exemption from Code Section 409A. The benefits under this Agreement are intended to be exempt from the requirements of Code Section 409A by reason of all payments under this Agreement being either “short-term deferrals” within the meaning of Treasury Regulation Section 1.409A-1(b)(4) or separation pay due to involuntary separation from service under Treasury Regulation Section 1.409A-1(b)(9)(iii). All provisions of this Agreement shall be interpreted in a manner consistent with preserving these exemptions.. Xxxxxxx X. Xxxxxxxx March 10, 2012

Exemption from Code Section 409A. The benefits under this Agreement are intended to be exempt from the requirements of Code Section 409A by reason of all payments under this Agreement being either “short-term deferrals” within the meaning of Treasury Regulation Section 1.409A-1(b)(4) or separation pay due to involuntary separation from service under Treasury Regulation Section 1.409A-1(b)(9)(iii). All provisions of this Agreement shall be interpreted in a manner consistent with preserving these exemptions.. Xx. Xxxxxxx X. Nickoloff March 10, 2012

Exemption from Code Section 409A. The benefits under this Agreement are intended to be exempt from the requirements of Code Section 409A by reason of all payments under this Agreement being either “short-term deferrals” within the meaning of Treasury Regulation Section 1.409A-1(b)(4) or separation pay due to involuntary separation from service under Treasury Regulation Section 1.409A-1(b)(9)(iii). All provisions of this Agreement shall be interpreted in a manner consistent with preserving these exemptions.. Xxxxx Xxxxxx-Xxxxxx March 10, 2012