Common use of Section 409A Limitations Clause in Contracts

Section 409A Limitations. It is the intention of the parties that this Agreement and the Retirement Benefit under this Agreement meet the criteria for a non-qualified deferred compensation plan under Section 409A of the Internal Revenue Code and its implementing regulations. Notwithstanding any provision in this Agreement that may be construed to the contrary, the vested Retirement Benefit under this Agreement shall not be distributed earlier than a “Permissible Distribution Event” as defined by Section 409A of the Internal Revenue Code and implementing regulations. No subsequent changes with respect to the timing or form of distributions may be made except in compliance with Section 409A and its implementing regulations. Payment of the Retirement Benefit is not subject to acceleration, except as may be permitted by Section 409A and its implementing regulations.

Section 409A Limitations. It is the intention of the parties that this Agreement and the Retirement Benefit under this Agreement meet the criteria for a non-qualified deferred compensation plan under Section 409A of the Internal Revenue Code and its implementing regulations. Notwithstanding any provision in this Agreement that may be construed to the contrary, the vested Retirement Benefit under this Agreement shall not be distributed earlier than a “Permissible Distribution Event” as defined by Section 409A of the Internal Revenue Code and implementing Implementing regulations. No subsequent changes with respect to the timing or form of distributions may be made except in compliance with Section 409A and its implementing regulations. Payment of the Retirement Benefit is not subject to acceleration, except as may be permitted by Section 409A and its implementing regulations.,

Section 409A Limitations. It is the intention of the parties that this Agreement and the Retirement Benefit under this Agreement meet the criteria for a non-qualified deferred compensation plan under Section 409A of the Internal internal Revenue Code and its implementing Implementing regulations. , Notwithstanding any provision in this Agreement that may be construed to the contrary, the vested Retirement Benefit under this Agreement shall not be distributed earlier than a “Permissible Distribution Event” as defined by Section 409A of the Internal Revenue Code and implementing regulations. No subsequent changes with respect to the timing or form of distributions may be made except in compliance with Section 409A and its implementing regulations. Payment of the Retirement Benefit is not subject to acceleration, except as may be permitted by Section 409A and its implementing regulations.

Section 409A Limitations. It is the intention of the parties that this Agreement and the Retirement Benefit under this Agreement meet the criteria for a non-qualified deferred compensation plan under Section 409A of the Internal Revenue Code Code, as amended, and its implementing regulations. Notwithstanding any provision in this Agreement that may be construed to the contrary, the vested Retirement Benefit under this Agreement shall not be distributed earlier than a “Permissible Distribution Event” as defined by Section 409A of the Internal Revenue Code and implementing regulations. No subsequent changes with respect to the timing or form of distributions may be made except in compliance with Section 409A and its implementing regulations. Payment of the Retirement Benefit is not subject to acceleration, except as may be permitted by Section 409A and its implementing regulations.