409A Amount definition

409A Amount means: (i) any Compensation Deferred prior to January 1, 2005, unless such Deferred Compensation is a Grandfathered Amount; and (ii) any Compensation Deferred in Taxable Years beginning after December 31, 2004. In determining 409A Amounts, the rules of Section 1.05 regarding Aggregated Plans apply.

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409A Amount means the portion of the Deferred Compensation Account of a Participant that consists of amounts deferred in taxable years beginning after December 31, 2004, and earnings on such amounts, as determined in accordance with Code Section 409A and applicable regulations and other guidance promulgated thereunder. The portion, if any, of a Participant’s Deferred Compensation Account that consists of amounts deferred on or before December 31, 2004, and earnings on such amounts, is referred to herein as the Participant’s “Grandfathered Amount.” An amount is considered deferred on or before December 31, 2004, if on or before that date the Participant had a legally binding right to be paid the amount, and the right to the amount was earned and vested. “409A Amount attributable to services performed prior to 2018” means all amounts credited to a Participant’s Deferred Compensation Account that are attributable to services performed prior to 2018, excluding any Grandfathered Amounts.

409A Amount means the portion of the Supplemental Before-Tax Deposit Account, the Supplemental Matching Contribution Account and the Supplemental Basic Profit Sharing Account of a Participant that is deferred in a taxable year beginning after December 31, 2004, as determined in accordance with Code Section 409A and applicable regulations and other guidance promulgated thereunder, and earnings attributable thereto. An amount is considered deferred on or before December 31, 2004 if on or before that date the Participant had a legally binding right to be paid the amount, and the right to the amount was earned and vested.

Examples of 409A Amount in a sentence

In no event whatsoever shall the Company be liable for any additional tax, interest or penalties that may be imposed on Retiree by Code Section 409A or any damages for failing to comply with Section 409A; provided that, in the event that any excise tax or interest amount (“409A Amount”) is imposed on Retiree as a result of any negligent act or omission by the Company, the Company shall reimburse Retiree for any such 409A Amount, grossed-up for taxes at an assumed total tax rate of forty percent (40%).
Notwithstanding anything in this Plan to the contrary, in the case of any Member who is a Specified Employee as of the date of his or her Termination, any Section 409A Amount due to the Member under the Plan in connection with such Termination will not be distributed for a period of six months after the date of such Termination or, if earlier, the date of the Specified Employee’s death (the “Distribution Delay Period”).
Any 409A Gross-Up Payment will be made no later than the end of the calendar year in which the Executive pays the 409A Amount.
Notwithstanding Article IV, the Plan will honor any Participant election as to the timing or form of payment of Deferred Compensation that is a 409A Amount provided: (i) such election is controlled by the Participant’s distribution election under any Code §401(a) qualified plan; (ii) the election is permitted under the Plan terms as in effect on October 3, 2004; and (iii) the distribution is made or is commenced on or after January 1, 2005, and no later than December 31, 2006.
The Gross-Up Amount shall be paid when the 409A Amount is determined but no later than the last day of the calendar year following the calendar year in which the 409A Amount, or penalty or interest amount as a result of premature taxation, is incurred.

More Definitions of 409A Amount

409A Amount means the portion of a Participant’s Supplemental ESOP Account that consists of amounts deferred in taxable years beginning after December 31, 2004, and earnings on such amounts, as determined in accordance with Code Section 409A and applicable regulations and other guidance promulgated thereunder. The portion, if any, of a Participant’s Supplemental ESOP Account that consists of amounts deferred on or before December 31, 2004, and earnings on such amounts, is referred to herein as the Participant’s “Grandfathered Amount”. An amount is considered deferred on or before December 31, 2004, if on or before that date the Participant had a legally binding right to be paid the amount, and the right to the amount was earned and vested.

409A Amount means the portion of the Participant’s Supplemental Pension Benefit that consists of amounts deferred in taxable years beginning after December 31, 2004, as determined in accordance with Code Section 409A and applicable regulations promulgated thereunder. The amount of the Supplemental Pension Benefit that is considered deferred on or before December 31, 2004 equals the present value of the amount to which the Participant would have been entitled under the Plan if the Participant had voluntarily terminated service from the Company without cause on December 31, 2004, and received a payment of the Supplemental Pension Benefit available from the Plan on the earliest possible date allowed under the Plan to receive a payment of benefits following the termination of service, and received the Supplemental Pension Benefit in the form with the maximum value (the “Grandfathered Amount”); provided, however, that for any subsequent taxable year of the Participant, the Grandfathered Amount may increase to equal the present value of the Supplemental Pension Benefit the Participant actually becomes entitled to, in the form and at the time actually paid, determined under the terms of the Plan (including applicable limits under the Internal Revenue Code), as in effect on October 3, 2004, without regard to any further services rendered by the Participant after December 31, 2004, or any other events affecting the amount of or the entitlement to the Supplemental Pension Benefit (other than the Participant’s election with respect to the time or form of an available benefit). For purposes of calculating the present value of the Supplemental Pension Benefit as described in the preceding sentence, the actuarial assumptions and methods used to value benefits under the Qualified Plan shall be used.

409A Amount means any Deferred Compensation under the Plan. In determining 409A Amounts, the rules of Section 1.03 regarding Aggregated Plans apply.

409A Amount means any Compensation Deferred in taxable years beginning after December 31, 2004.

409A Amount means the part of a Participant’s Deferral Account that is subject to Section 409A of the Code.