Distributions Upon Income Inclusion Under Section 409A of the Code. If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank may make a limited distribution to the Executive in accordance with the provisions of Treasury Regulations Section 1.409A-3.
Appears in 11 contracts
Samples: Acnb Bank (Acnb Corp), Acnb Bank (Acnb Corp), Salary Continuation Agreement (Acnb Corp)
Distributions Upon Income Inclusion Under Section 409A of the Code. If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank may make a limited distribution to the Executive in accordance with the provisions of Treasury Regulations Section 1.409A-31.409A-3(j)(4)(vi), (vii) and (xi). Any such distribution will decrease the Executive’s benefit hereunder.
Appears in 4 contracts
Samples: Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.), Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.), Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.)
Distributions Upon Income Inclusion Under Section 409A of the Code. If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank Company may make a limited distribution to the Executive in accordance with the provisions of Treasury Regulations Section 1.409A-31.409A-3(j)(4)(vi), (vii) and (xi). Any such distribution will decrease the Executive’s benefit hereunder.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.), Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.)
Distributions Upon Income Inclusion Under Section 409A of the Code. If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank Company may make a limited distribution to the Executive in accordance with the provisions of Treasury Regulations Section 1.409A-31.409A-3(j)(vi), (vii) and (xi). Any such distribution will decrease the Executive's benefit hereunder.
Appears in 1 contract
Samples: Salary Continuation Agreement (Fidelity Federal Bancorp)
Distributions Upon Income Inclusion Under Section 409A of the Code. If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank Company may make a limited distribution to the Executive in accordance with the provisions of Treasury Regulations Section 1.409A-31.409A-3(j)(vi), (vii) and (xi).
Appears in 1 contract
Distributions Upon Income Inclusion Under Section 409A of the Code. If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank Company may make a limited distribution to the Executive in accordance with the provisions of Treasury Regulations Section 1.409A-31.409A-3(j)(vi), (vii) and (xi). Any such distribution will decrease the Executive’s benefit hereunder.
Appears in 1 contract
