Nonqualified Deferred Compensation Rules definition
Examples of Nonqualified Deferred Compensation Rules in a sentence
For purposes of any payment to be made to the Awardee under this Award that subject to the Nonqualified Deferred Compensation Rules, references in this Agreement or the Plan to “termination of employment” (and substantially similar phrases) shall mean “separation from service” within the meaning of the Nonqualified Deferred Compensation Rules.
This Agreement is intended to comply with the Nonqualified Deferred Compensation Rules and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under the Nonqualified Deferred Compensation Rules.
Notwithstanding any of the foregoing, the Company and its Affiliates make no representations that the payments provided under this Agreement comply with the Nonqualified Deferred Compensation Rules, and in no event shall the Company or its Affiliates be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Director on account of non-compliance with the Nonqualified Deferred Compensation Rules.
For purposes of the Nonqualified Deferred Compensation Rules, each of the payments that may be made in respect of the Award is designated as a separate payment.
For purposes of this Agreement, a “Separation from Service” shall have the meaning given such term under the Nonqualified Deferred Compensation Rules.