Treatment of Each Installment as a Separate Payment. For purposes of applying the provisions of Code Section 409A to this Agreement, each separately identified amount to which the Executive is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under Code Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments.
Appears in 26 contracts
Samples: Executive Employment Agreement (Magicjack Vocaltec LTD), Executive Employment Agreement (Magicjack Vocaltec LTD), Employment Agreement (Magicjack Vocaltec LTD)
Treatment of Each Installment as a Separate Payment. For purposes of applying the provisions of Code Section 409A to this Agreement, each separately identified amount to which the Executive Employee is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under Code Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments.
Appears in 17 contracts
Samples: Employment Agreement (21st Century Holding Co), Employment Agreement (21st Century Holding Co), Employment Agreement (21st Century Holding Co)
