Section 409A Provisions definition

Section 409A Provisions means those statutory provisions of the Internal Revenue Code of 1986 (as amended) contained in §409A thereof and the guidance promulgated by the U.S. Department of Treasury or any subdivision thereof interpreting §409A.
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Section 409A Provisions means Code Section 409A(a)(1) and the Treasury regulations and other interpretive guidance issued pursuant thereto.
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Section 409A Provisions means those statutory provisions of the Internal Revenue Code of 1986 (as amended) contained in
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Examples of Section 409A Provisions in a sentence

  • Notwithstanding any other provision of this Agreement to the contrary, the parties shall in good faith amend this Agreement to the limited extent necessary to comply with the requirements of the Section 409A Provisions in order to ensure that any amounts paid or payable hereunder are not subject to the additional 20% income tax thereunder while maintaining to the maximum extent practicable the original intent of this Agreement.

  • The intent of the parties is that this agreement comply with the Section 409A Provisions or is exempt therefrom, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in accordance therewith.

  • The second and third sentences of Section 3.3 of the Employment Agreement are deleted, and replaced with the following sentences effective as of January 1, 2009: “Such severance shall be paid as salary continuation in accordance with the Company’s regular payroll practices commencing with the payroll period ending immediately after the thirtieth day after the date of the Employee’s separation from service as defined under the Section 409A Provisions (the “Separation From Service”).

  • The Applicable Agreements shall be interpreted in a manner to prevent the occurrence of a plan failure subject to Code Section 409A(a)(1) and to comply with the Section 409A Provisions.

  • The second and third sentences of Section 3.3 of the Amended Employment Agreement are deleted, and replaced with the following sentences effective as of January 1, 2009: “Such severance shall be paid as salary continuation in accordance with the Company’s regular payroll practices commencing with the payroll period ending immediately after the thirtieth day after the date of the Employee’s separation from service as defined under the Section 409A Provisions (the “Separation From Service”).

  • Glowpoint and the Employee wish to satisfy the Section 409A Provisions prior to a vesting event and avoid the tax consequences of a failure to satisfy the Section 409A Provisions upon or after a vesting event.

  • The intent of the parties is that this agreement comply with the Section 409A Provisions or is exempt therefrom and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in accordance therewith.


More Definitions of Section 409A Provisions

Section 409A Provisions means those statutory provisions of the Internal Revenue Code of 1986 (as amended) contained in Section 409A thereof and the guidance promulgated by the US Department of Treasury or any subdivision thereof interpreting Section 409A.
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Related to Section 409A Provisions

  • Section 409A means Section 409A of the Code and the regulations and other guidance thereunder.

  • Section 409A of the Code means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable treasury regulations and other official guidance thereunder.

  • Section 409A Limit means the lesser of two (2) times: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during the Company’s taxable year preceding the Company’s taxable year of Executive’s termination of employment as determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive’s employment is terminated.

  • Section 409A Change in Control means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets, as provided in Section 409A(a)(2)(A)(v) of the Code and Treasury Regulations Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.