Section 409A definition
Examples of Section 409A in a sentence
Specifically, each payment provided under this Agreement is intended to be one of a series of separate payments that qualify for the “short term deferral” exception to Section 409A to the maximum extent possible, and to the extent they do not so qualify, are intended to qualify for the separation pay exceptions to Section 409A, to the maximum extent possible.
The Executive will be deemed to have a termination of employment for purposes of determining the timing of any payments or benefits hereunder that are classified as deferred compensation only upon a “separation from service” within the meaning of Section 409A.
It is intended that the payments and benefits provided under this Agreement shall be exempt from the application of the requirements of Section 409A of the Code and the regulations and other guidance issued thereunder (collectively, “Section 409A”) or be compliant with such requirements.
This definition shall be interpreted and applied consistent with the Americans with Disabilities Act, the Family and Medical Leave Act, Section 409A of the Code, and other applicable law.
This Agreement shall be construed and administered in such manner as shall be necessary to effect an exemption from, or compliance with, Section 409A; provided, the preceding provisions shall not be construed as a guarantee by the Company or any of its affiliates of any particular tax effect to the Executive of the payments and other benefits under this Agreement.