US Code Section 409A definition

US Code Section 409A means Section 409A of the US Code and the regulations and other guidance promulgated thereunder;
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US Code Section 409A means Section 409A of the U.S. Code and the regulations and other guidance promulgated thereunder;
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Examples of US Code Section 409A in a sentence

  • The term of any such Option should not be extended beyond its expiry date except as otherwise permitted under United States Treasury Regulation Section 1.409A- 1(b)(5)(v)(C) and only to the extent such extension would not cause the Option to become subject to U.S. Code Section 409A.

  • Options granted to U.S. Taxpayers are intended to be exempt from U.S. Code Section 409A and will be interpreted accordingly.

  • The Plan and each Award Agreement under the Plan with respect to a U.S. Code Section 409A Award will be construed and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Board.

  • Each Code Section 409A Award will be granted, paid, settled or deferred in such manner that will meet the requirements of U.S. Code Section 409A.

  • The Award Agreements shall preclude the exercise of discretion by the Company, the Board, the Committee and the Participant to change the time or form of Settlement if the exercise of such discretion would cause the Participant to become subject to additional U.S federal income taxes under U.S. Code Section 409A with respect to the Award.

  • The Plan will be construed, administered, and governed in a manner that effects such intent, and the Corporation will not take any action that would be inconsistent with such intent and will make payments in such time and manner as the Corporation determines would minimize or reduce the risk of adverse taxation under US Code Section 409A.

  • For greater clarity, these forfeiture provisions are intended to avoid adverse tax consequences under US Code Section 409A and/or under paragraph 6801(d) of the regulations under the Income Tax Act (Canada), that may result because of the different requirements as to the time of distribution of Deferred Share Units (and thus the time of taxation) with respect to a US Taxpayer’s separation from service (under US tax law) and his retirement or loss of office (under Canadian tax law).

  • Notwithstanding the provisions of Section 14 of the Plan, no amendment in respect of an Award to a U.S. Taxpayer shall be made without the consent of such U.S. Taxpayer if the result of such amendment would be to cause the Award to violate the requirements of U.S. Code Section 409A.

  • The Invitation or the Award Agreements shall preclude the exercise of discretion by the Company, the Board, the Committee and the Participant to change the time or form of Payout or settlement if the exercise of such discretion would cause the Award or RSU to become subject to additional U.S federal income taxes under U.S. Code Section 409A.

  • Each Optionee is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or for the account of such Optionee in connection with the Plan (including any taxes and penalties under U.S. Code Section 409A), and neither the Corporation nor any part of the Corporate Group shall have any obligation to indemnify or otherwise hold such Optionee or beneficiary or the Optionee’s estate harmless from any or all such taxes or penalties.

Related to US Code Section 409A

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

  • the Code means the Pension Regulator’s Code of Practice No 14 governance and administration of public service pension schemes.

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

  • IRC means the Internal Revenue Code of 1986, as amended, and the regulations 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.

  • Treasury Regulations means the regulations promulgated under the Code.

  • Code means the Internal Revenue Code of 1986, as amended.

  • 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.

  • IRS Code means the Internal Revenue Code of 1986, as amended from time to time or any successor statute.

  • Treasury Regulation means the United States Treasury regulations promulgated under the Code.

  • U.S. Treasury Regulations means the Treasury regulations of the Code. Reference to a specific Treasury Regulation or Section of the Code shall include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

  • U.S. Tax Code means the United States Internal Revenue Code of 1986, as amended.

  • Qualified employer means the federal government.

  • Section 162(m means Section 162(m) of the Code.

  • Foreign Benefit Law means any applicable statute, law, ordinance, code, rule, regulation, order or decree of any foreign nation or any province, state, territory, protectorate or other political subdivision thereof regulating, relating to, or imposing liability or standards of conduct concerning, any Employee Benefit Plan.

  • Specified Employee means an employee who at the time of Separation from Service is a key employee of the Bank, if any stock of the Bank is publicly traded on an established securities market or otherwise. For purposes of this Agreement, an employee is a key employee if the employee meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in accordance with the regulations thereunder and disregarding section 416(i)(5)) at any time during the twelve (12) month period ending on December 31 (the “identification period”). If the employee is a key employee during an identification period, the employee is treated as a key employee for purposes of this Agreement during the twelve (12) month period that begins on the first day of April following the close of the identification period.

  • Federal internal revenue code means the internal revenue code of the United States in effect on the last day of the taxpayer's tax year.

  • Qualified employee means an individual who:

  • Foreign Pension Plan means any plan, fund (including any superannuation fund) or other similar program established or maintained outside the United States by the Borrower or any one or more of its Subsidiaries primarily for the benefit of employees of the Borrower or such Subsidiaries residing outside the United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code.

  • U.S. Code means the U.S. Internal Revenue Code of 1986, as amended.

  • Excise Tax Act means the Excise Tax Act, R.S.C. 1985, Chapter E-15.