IRC Section 409A Compliance. The parties will administer this Agreement in a good faith attempt to avoid imposition on Executive of penalties under Section 409A of the Internal Revenue Code of 1986 and the guidance promulgated thereunder. If Executive is a “specified employee” as defined under Section 409A, and to the extent any payments under this Agreement are otherwise payable in the period beginning with the termination date and ending six months after the termination date and would subject Executive to penalties under Section 409A, such payments will be delayed, aggregated, and paid as soon as practicable after the date that is six months after the date of termination.”.
Appears in 6 contracts
Samples: Employment Agreement (DSW Inc.), Employment Agreement (DSW Inc.), Employment Agreement (DSW Inc.)
IRC Section 409A Compliance. The parties will administer this Agreement in a good faith attempt to avoid imposition on Executive of penalties under Section 409A of the Internal Revenue Code of 1986 and the guidance promulgated thereunder. If Executive is a “specified employee” as defined under Section 409A, and to the extent any payments under this Agreement are otherwise payable in the period beginning with the termination date and ending six months after the termination date and would subject Executive to penalties under Section 409A, such payments will be delayed, aggregated, and paid as soon as practicable after the date that is six months after the date of termination.”.
Appears in 6 contracts
Samples: Executive Severance Agreement (Designer Brands Inc.), Executive Employment Agreement (DSW Inc.), Employment Agreement (DSW Inc.)
IRC Section 409A Compliance. The parties will administer this Agreement in a good faith attempt to avoid imposition on the Executive of penalties under Section 409A of the Internal Revenue Code of 1986 and the guidance promulgated thereunder. If the Executive is a “specified employee” as defined under Section 409A, and to the extent any payments under this Agreement are otherwise payable in the period beginning with the termination date and ending six months after the termination date and would subject the Executive to penalties under Section 409A, such payments will be delayed, aggregated, and paid as soon as practicable after the date that is six months after the date of termination.”.. For purposes of this Agreement, “termination of employment” or any similar term shall be interpreted consistent with the definition of “separation from service” under Section 409A. [Signature Page Follows]
Appears in 4 contracts
Samples: Standard Executive Severance Agreement (Designer Brands Inc.), Standard Executive Severance Agreement (Designer Brands Inc.), Standard Executive Severance Agreement (Designer Brands Inc.)
IRC Section 409A Compliance. The parties will administer this Agreement in a good faith attempt to avoid imposition on Executive of penalties under Section 409A of the Internal Revenue Code of 1986 and the guidance promulgated thereunder. If Executive is a “specified employee” as defined under Section 409A, and to the extent any payments under this Agreement are otherwise payable in the period beginning with the termination date and ending six months after the termination date and would subject Executive to penalties under Section 409A, such payments will be delayed, aggregated, and paid as soon as practicable after the date that is six months after the date of termination.”.. For purposes of this Agreement, “termination of employment” or any similar term shall be interpreted consistent with the definition of “separation from service” under Section 409A.
Appears in 3 contracts
Samples: Executive Severance Agreement (DSW Inc.), Executive Severance Agreement (DSW Inc.), Executive Severance Agreement (DSW Inc.)
IRC Section 409A Compliance. The parties will administer this Agreement in a good faith attempt to avoid imposition on Executive of penalties under Section 409A of the Internal Revenue Code of 1986 and the guidance promulgated thereunder. If Executive is a “"specified employee” " as defined under Section 409A, and to the extent any payments under this Agreement are otherwise payable in the period beginning with the termination date and ending six months after the termination date and would subject Executive to penalties under Section 409A, such payments will be delayed, aggregated, and paid as soon as practicable after the date that is six months after the date of termination.”.. For purposes of this Agreement, "termination of employment" or any similar term shall be interpreted consistent with the definition of "separation from service" under Section 409A.
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