Acknowledgements Regarding Section 409a of the Code Contract Clauses (6)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Acknowledgements Regarding Section 409a of the Code clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Acknowledgements Regarding Section 409a of the Code. This Agreement is intended to comply with section 409A of the Code and the guidance and regulations promulgated thereunder ("Section 409A") or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A, and in no event shall t...he Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by you on account of non-compliance with Section 409A. Notwithstanding the foregoing, you acknowledge that if you are deemed a "specified employee" within the meaning of Section 409A, as determined by the Committee, at a time when you become eligible for settlement of the RSUs upon "separation from service" within the meaning of Section 409A, then to the extent this Agreement provides for "nonqualified deferred compensation" and to the extent necessary to prevent any accelerated or additional tax under Section 409A, such settlement shall be delayed until the earlier of: (a) the date that is six months following your separation from service and (b) your death. All installment payments under this Agreement shall be deemed separate payments for purposes of Section 409A. View More
Found in FIRST UNITED CORP contract
Acknowledgements Regarding Section 409a of the Code. This Agreement is intended to comply with section 409A of the Code and the guidance and regulations promulgated thereunder ("Section 409A") or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A, and in no event shall t...he Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by you Employee on account of non-compliance with Section 409A. Notwithstanding the foregoing, you acknowledge Employee acknowledges that if you are Employee is deemed a "specified employee" within the meaning of Section 409A, as determined by the Committee, at a time when you become Employee becomes eligible for settlement payment of the RSUs Award upon "separation from service" within the meaning of Section 409A, then to the extent this Agreement provides for "nonqualified deferred compensation" and to the extent necessary to prevent any accelerated or additional tax under Section 409A, such settlement payment shall be delayed until the earlier of: (a) the date that is six months following your Employee's separation from service and (b) your Employee's death. All installment payments under this Agreement shall be deemed separate payments for purposes of Section 409A. View More
Found in Extraction Oil & Gas, Inc. contract
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