Permissible Acceleration Provision. Under Section 409A(a)(3), a payment of deferred compensation may not be accelerated except as provided in regulations by the Internal Revenue Code. Certain permissible payment accelerations include payments necessary to comply with a domestic relations order, payments necessary to comply with certain conflict of interest rules, payments intended to pay employment taxes, and certain de minimis payments related to the participant’s termination of the Officer’s interest in the plan.
Appears in 3 contracts
Samples: Officer Salary Continuation Agreement (Southcrest Financial Group Inc), Continuation Agreement (Southcrest Financial Group Inc), Officer Salary Continuation Agreement (Southcrest Financial Group Inc)
Permissible Acceleration Provision. Under Section §409A(a)(3), a payment of deferred compensation may not be accelerated except as provided in regulations by the Internal Revenue Code. Certain permissible payment accelerations include payments necessary to comply with a domestic relations order, payments necessary to comply with certain conflict of interest rules, payments intended to pay employment taxes, and certain de minimis payments related to the participant’s termination of the OfficerExecutive’s interest in the plan.
Appears in 3 contracts
Samples: Executive Salary Continuation Agreement (Mountain National Bancshares Inc), Executive Salary Continuation Agreement (Mountain National Bancshares Inc), Executive Salary Continuation Agreement (Mountain National Bancshares Inc)
Permissible Acceleration Provision. Under Section 409A(a)(3), a payment of deferred compensation may not be accelerated except as provided in regulations by the Internal Revenue Code. Certain permissible payment accelerations include payments necessary to comply with a domestic relations order, payments necessary to comply with certain conflict of interest rules, payments intended to pay employment taxes, and certain de minimis payments related to the participant’s termination of the OfficerExecutive’s interest in the plan.
Appears in 1 contract
Samples: Continuation Agreement (Southcrest Financial Group Inc)
Permissible Acceleration Provision. Under Section 409A(a)(3), a payment of deferred compensation may not be accelerated except as provided in regulations by the Internal Revenue Code. Certain permissible payment accelerations include payments necessary to comply with a domestic relations order, payments necessary to comply with certain conflict of interest rules, payments intended to pay employment taxes, and certain de minimis payments related to the participantExecutive’s termination of the OfficerExecutive’s interest in the plan.
Appears in 1 contract
Samples: Continuation Agreement (Summit Financial Group Inc)
Permissible Acceleration Provision. Under Section 409A(a)(3), a payment of deferred compensation may not be accelerated except as provided in regulations by the Internal Revenue Code. Certain permissible payment accelerations include payments necessary to comply with a domestic relations order, payments necessary to comply with certain conflict of interest rules, payments intended to pay employment taxes, and certain de minimis payments related to the participant’s 's termination of the Officer’s Executive's interest in the plan.
Appears in 1 contract
Samples: Continuation Agreement (Simmons First National Corp)
