Common use of Section 409A Compliance Clause in Contracts

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 23 contracts

Samples: Employment Agreement (Sow Good Inc.), Employment Agreement (Jones Energy, Inc.), Employment Agreement (TGPX Holdings I LLC)

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Section 409A Compliance. (i) The To the extent applicable, the intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively collectively, “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company Group be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 10 contracts

Samples: Employment Agreement (Solo Brands, Inc.), Employment Agreement (Solo Brands, Inc.), Employment Agreement (Solo Brands, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement are exempt from or comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 7 contracts

Samples: Executive Employment Agreement (SpringBig Holdings, Inc.), Executive Employment Agreement (DraftKings Inc.), Executive Employment Agreement (DraftKings Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 7 contracts

Samples: Employment Agreement (Falcon Minerals Corp), Employment Agreement (PaxMedica, Inc.), Employment Agreement (Falcon Minerals Corp)

Section 409A Compliance. (ia) The intent of the parties is that payments and benefits under this Agreement comply with with, or be exempt from, Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall will be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall will be made in good faith and shallwill, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Employee you and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall will the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee you by Code Section 409A or for damages for failing to comply with Code Section 409A.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (Accretive Health, Inc.), Proprietary Interests Protection Agreement (R1 RCM Inc.), Proprietary Interests Protection Agreement (R1 RCM Inc. /DE)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with (or qualify for an exemption from) Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewithaccordingly. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 5 contracts

Samples: Employment Agreement (Farmland Partners Inc.), Employment Agreement (Farmland Partners Inc.), Employment Agreement (Farmland Partners Inc.)

Section 409A Compliance. (i1) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 5 contracts

Samples: Employment Agreement (Freshpet, Inc.), Employment Agreement (Freshpet, Inc.), Employment Agreement (Freshpet, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company Group be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 3 contracts

Samples: Employment Agreement (Epicor Software Corp), Employment Agreement (Epicor Software Corp), Employment Agreement (Epicor International Holdings, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively "Code Section 409A") and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 3 contracts

Samples: Severance Agreement (Zoe's Kitchen, Inc.), Amended Severance Agreement (Zoe's Kitchen, Inc.), Severance Agreement (Zoe's Kitchen, Inc.)

Section 409A Compliance. (ia) The intent of the parties is that payments and benefits under this Agreement comply with with, or be exempt from, Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall letter agreement will be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall will be made in good faith and shallwill, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Employee you and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.Any such modification will require your written consent.

Appears in 3 contracts

Samples: Non Solicitation Agreement (NBC Acquisition Corp), Non Competition and Non Solicitation Agreement (Trinseo S.A.), Solicitation Agreement (Styron Canada ULC)

Section 409A Compliance. (i) The intent of the parties to this Agreement is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 2 contracts

Samples: Employment Agreement (Polarityte, Inc.), Employment Agreement (Polarityte, Inc.)

Section 409A Compliance. (i) The intent of the parties Parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company Entities be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 2 contracts

Samples: Employment Agreement (HFF, Inc.), Employment Agreement (HFF, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 2 contracts

Samples: Employment Agreement (Zoe's Kitchen, Inc.), Employment Agreement (Zoe's Kitchen, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, or be exempt therefrom and accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewiththerewith or exempt therefrom. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall The Employee acknowledges and agrees that the Company be liable for any additional tax, interest or penalty that may be imposed on makes no representations with respect to the Employee by application of Code Section 409A or damages for failing any other tax consequences to comply with Code Section 409A.any payments hereunder.

Appears in 2 contracts

Samples: Employment Agreement (Thryv Holdings, Inc.), Employment Agreement (Thryv Holdings, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or for damages for failing to comply with Code Section 409A.

Appears in 2 contracts

Samples: Employment Agreement (Visteon Corp), Employment Agreement (Visteon Corp)

Section 409A Compliance. (i) The To the extent applicable, the intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively collectively, “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. 409 A. In no event whatsoever shall the Company Group be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Employment Agreement (Solo Brands, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) or be exempt therefrom and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewiththerewith or exempt therefrom. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall The Employee acknowledges and agrees that the Company be liable for any additional tax, interest or penalty that may be imposed on makes no representations with respect to the Employee by application of Code Section 409A or damages for failing any other tax consequences to comply with Code Section 409A.any payments hereunder.

Appears in 1 contract

Samples: Employment Agreement (Dex Media, Inc.)

Section 409A Compliance. (ia) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company parties hereto of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Physician by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Physician Employment Agreement (Radiation Therapy Services Holdings, Inc.)

Section 409A Compliance. (i) a. The intent of the parties is that payments and benefits under this Agreement be exempt from or comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, permitted ,this Agreement shall be interpreted to be in compliance therewiththerewith . To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Employment Agreement (Western Uranium Corp)

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Section 409A Compliance. (ia) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company parties hereto of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Executive Employment Agreement (21st Century Oncology Holdings, Inc.)

Section 409A Compliance. (ia) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company parties hereto of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Executive Employment Agreement (21st Century Oncology Holdings, Inc.)

Section 409A Compliance. (i) The intent of the parties Parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Advisor and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Advisor by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Employment Agreement (Fifth Third Bancorp)

Section 409A Compliance. (ia) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company parties hereto of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company or Holdings be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Executive Employment Agreement (Radiation Therapy Services Holdings, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement are exempt from, or comply with with, Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Employment Agreement (Freshpet, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement be exempt from or comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be exempt from, and, to the extent not exempt, in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the US-DOCS\128769458.1 Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A 409A, or damages for failing to comply with Code Section 409A.409A, in each case, for any payments made consistent with the terms of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Spirit Realty Capital, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively "Code Section 409A") and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Employment Agreement (Dakota Gold Corp.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Executive Employment Agreement (Diamond Eagle Acquisition Corp. \ DE)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement be exempt from, or, to the extent applicable, comply with with, Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Executive Employment Agreement (Digital World Acquisition Corp.)

Section 409A Compliance. (iI) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively "Code Section 409A") and, accordinglyaccordingl y, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order 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 and economic benefit to the Employee Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

Appears in 1 contract

Samples: Employment Agreement (Freshpet, Inc.)

Section 409A Compliance. (i) The intent of the parties is that payments and benefits under this Agreement be exempt from or comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be exempt from, and, to the extent not exempt, in compliance therewith. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be made in good faith and shall, to the US-DOCS\128774742.1 maximum extent reasonably possible, maintain the original intent and economic benefit to the Employee and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A 409A, or damages for failing to comply with Code Section 409A.409A, in each case, for any payments made consistent with the terms of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Spirit Realty Capital, Inc.)

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