Code definition
Examples of Code in a sentence
Any payments made by the Company to the Executive under this Agreement which are later confirmed by the Tax Advisor to be “excess parachute payments” shall be considered by all parties to have been a loan by the Company to the Executive, which loan shall be repaid by the Executive upon demand together with interest calculated at the lowest interest rate authorized for such loans under the Code without a requirement that further interest be imputed.
The foregoing includes reasonable attorneys’ fees, expenses and costs of investigation incurred in (1) appellate proceedings; (2) in any post-judgment proceedings to collect or enforce the judgment; (3) establishing the right to indemnification; and (4) any action or participation in, or in connection with, any case or proceeding under Chapter 7, 11 or 13 of the Bankruptcy Code (11 United States Code Sections 101 et seq.), or any successor statutes.
The six-month delay described in this section shall only apply to the extent that the exemption from Section 409A of the Code for certain amounts payable solely on an involuntary separation from service is not available.
Notwithstanding the foregoing, to the extent required because Executive is deemed a “specified employee” for purposes of Section 409A of the Code, on the date of Executive’s termination, the payments described above in this Section 2 will not commence until the first day of the month following the six-month anniversary of the Executive’s date of termination, with the first payment to include amounts required to be delayed under this sentence.
For the avoidance of doubt, original manual signatures shall be used for the execution or indorsement of writings when required under the Uniform Commercial Code or other Signature Law due to the character or intended character of the writings.