Section 409a Matters Contract Clauses (25)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Section 409a Matters clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Section 409a Matters. It is intended that (i) each payment provided under this Agreement is a separate "payment" for purposes of Code Section 409A and (ii) that the payments satisfy, to the greatest extent possible, the exemptions from the application of Code Section 409A, including those provided under Treasury Regulations 1.409A-1(b)(4) (regarding short-term deferrals), 1.409A-1(b)(9)(iii) (regarding the two-times, two year exception), and 1.409A-1(b)(9)(v) (regarding reimbursements and other separation pay). Notwi...thstanding anything to the contrary in this Agreement, if Employer determines (i) that on the date of Lively's Separation from Service or at such other time that Employer determines to be relevant, Lively is a "specified employee" (as such term is defined under Treasury Regulation 1.409A-1(i)(1)) of Employer and (ii) that any payments to be provided to Lively pursuant to this Agreement are or may become subject to the additional tax under Code Section 409A(a)(1)(B) or any other taxes or penalties imposed under Code Section 409A ("Section 409A Taxes") if provided at the time otherwise required under this Agreement, then such payments shall be delayed until the date that is six (6) months after the date of Lively's Separation from Service with Employer, or such shorter period that, as determined by Employer, is sufficient to avoid the imposition of Section 409A Taxes. Any payments delayed pursuant to this Section 11 shall be made in a lump sum on the first day of the seventh month following Lively's Separation from Service, or such earlier date that, as determined by Employer, is sufficient to avoid the imposition of any Section 409A Taxes. View More
Found in CITIZENS FIRST CORP contract
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Section 409a Matters. It is intended that (i) each payment provided under this Agreement is a separate "payment" for purposes of Code Section 409A and (ii) that the payments satisfy, to the greatest extent possible, the exemptions from the application of Code Section 409A, including those provided under Treasury Regulations 1.409A-1(b)(4) (regarding short-term deferrals), 1.409A-1(b)(9)(iii) (regarding the two-times, two year exception), and 1.409A-1(b)(9)(v) (regarding reimbursements and other separation pay). Notwi...thstanding anything to the contrary in this Agreement, if Employer determines (i) that on the date of Lively's Kanipe's Separation from Service or at such other time that Employer determines to be relevant, Lively Kanipe is a "specified employee" (as such term is defined under Treasury Regulation 1.409A-1(i)(1)) of Employer and (ii) that any payments to be provided to Lively Kanipe pursuant to this Agreement are or may become subject to the additional tax under Code Section 409A(a)(1)(B) or 6 any other taxes or penalties imposed under Code Section 409A ("Section 409A Taxes") if provided at the time otherwise required under this Agreement, then such payments shall be delayed until the date that is six (6) months after the date of Lively's Kanipe's Separation from Service with Employer, or such shorter period that, as determined by Employer, is sufficient to avoid the imposition of Section 409A Taxes. Any payments delayed pursuant to this Section 11 shall be made in a lump sum on the first day of the seventh month following Lively's Kanipe's Separation from Service, or such earlier date that, as determined by Employer, is sufficient to avoid the imposition of any Section 409A Taxes. View More
Found in CITIZENS FIRST CORP contract
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