Section 457A of the Code Clause Samples
Section 457A of the Code. If the Covered Units would otherwise constitute nonqualified deferred compensation subject to Code section 457A and the date on which the Covered Units are no longer treated as subject to a substantial risk of forfeiture for purposes of Code section 457A occurs prior to the Delivery Date or a Vesting Change in Control, the terms of Exhibit A shall apply.
Section 457A of the Code. Notwithstanding that both Nabors Delaware and Nabors Bermuda are parties to this Agreement, certain portions of Executive’s compensation provided under this Agreement, as specifically identified within the provisions of this Agreement (including, without limitation, all compensation that may be provided pursuant to Article V of this Agreement) (the “Nabors Delaware Compensation”), are solely provided by Nabors Delaware as compensation for Executive’s services to Nabors Delaware, with the intent that Nabors Delaware be the sole “sponsor” of such compensation within the meaning of Section 457A of the Code and the authoritative guidance promulgated thereunder. The Nabors Delaware Compensation shall be solely the obligation of Nabors Delaware and Nabors Bermuda shall not be obligated to provide, nor shall it be the guarantor of or otherwise responsible for, any of the Nabors Delaware Compensation. Further, notwithstanding anything to the contrary in Section 3.1(c), Section 3.1(f), Section 3.2(a) or Section 3.2(d), any compensation that would potentially be subject to Section 457A of the Code were such compensation to be provided by Nabors Bermuda or any entity that is a nonqualified entity within the meaning of Section 457A of the Code shall be provided solely by Nabors Delaware and, if necessary to support an allocation of such compensation to Nabors Delaware for U.S. federal income tax principles, Nabors Bermuda shall be allocated and become obligated to provide a portion of compensation otherwise payable by Nabors Delaware under this Agreement that does not constitute nonqualified deferred compensation within the meaning of Section 457A of the Code, which has a value equal to the value of the benefit that Nabors Bermuda would otherwise have provided. Nabors Delaware and Nabors Bermuda shall cooperate to conform the allocation for tax purposes of the compensation payable pursuant to this Agreement to the intent described in this Section 7.3.
Section 457A of the Code. It is the intent of the Company that the Plan and all Bonuses paid to U.S. taxpayers hereunder will comply with Section 457A of the Code and the provisions of the Plan shall be interpreted and construed consistent with this intent. Notwithstanding the foregoing, in the event the Plan is found not to comply with Section 457A, the Company shall not be required to assume any increased economic burden in connection therewith.
Section 457A of the Code. Notwithstanding that ▇▇▇▇▇▇ is a party to this Agreement, certain portions of the Executive’s compensation provided under this Agreement, as specifically identified within the provisions of this Agreement (the “▇▇▇▇▇▇ U.S. Compensation”), are solely provided by ▇▇▇▇▇▇ U.S., Inc. as compensation for the Executive’s services to ▇▇▇▇▇▇ U.S., Inc., with the intent that ▇▇▇▇▇▇ U.S., Inc. be the sole “sponsor” of such compensation within the meaning of Section 457A of the Code and the authoritative guidance promulgated thereunder. The ▇▇▇▇▇▇ U.S. Compensation shall be solely the obligation of ▇▇▇▇▇▇ U.S., Inc. and ▇▇▇▇▇▇ shall not be obligated to provide, nor shall it be the guarantor of or otherwise responsible for, any of the ▇▇▇▇▇▇ U.S., Inc. Compensation. Further, notwithstanding anything to the contrary in this Agreement, any compensation that would potentially be subject to Section 457A of the Code were such compensation to be provided by ▇▇▇▇▇▇ or any entity that is a nonqualified entity within the meaning of Section 457A of the Code shall be provided solely by ▇▇▇▇▇▇ U.S., Inc. and, if necessary to support an allocation of such compensation to ▇▇▇▇▇▇ U.S., Inc. for U.S. federal income tax principles, ▇▇▇▇▇▇ U.S., Inc. shall be allocated and become obligated to provide a portion of compensation otherwise payable by ▇▇▇▇▇▇ under this Agreement that does not constitute nonqualified deferred compensation within the meaning of Section 457A of the Code, which has a value equal to the value of the benefit that ▇▇▇▇▇▇ would otherwise have provided. ▇▇▇▇▇▇ shall cooperate to conform the allocation for tax purposes of the compensation payable pursuant to this Agreement to the intent described in this Section 4(b).
Section 457A of the Code. ▇▇▇▇▇▇ agrees that if the IRS determines that the Restricted Share Units are deferred compensation subject to, and within the meaning of, Section 457A of the Code, Holder shall be solely responsible for Holder’s costs related to such a determination.