Examples of Code Section 409A in a sentence
For purposes of Code Section 409A, the regulations and other guidance thereunder and any state law of similar effect (collectively “Section 409A”), each payment that is paid pursuant to this Agreement is hereby designated as a separate payment.
If, as of the date of the Executive’s separation from service with the Company, the Executive is eligible to receive more than one (1) benefit under this Agreement, the Executive shall be provided the benefit with the greatest net present value (calculated using the annual long-term applicable federal rate then in effect) as of such separation from service, payable in accordance with the applicable payment provisions of this Agreement and Code Section 409A.
It is intended that this Agreement will comply with Code Section 409A, and this Agreement shall be administered accordingly and interpreted and construed on a basis consistent with such intent.
For purposes of Code Section 409A, all installment payments of deferred compensation made hereunder, or pursuant to another plan or arrangement, shall be deemed to be separate payments.
If any Award would be considered deferred compensation as defined under Code Section 409A and would fail to meet the requirements of Code Section 409A, then such Award shall be null and void.