Section 409a Clause Example from Business Contracts

This example Section 409a clause appears in 5 contracts from 1 company

Section 409a. If the Severance, Change in Control Severance or any other compensation or benefits provided to Executive pursuant to this Agreement are determined, in whole or in part, to constitute "nonqualified deferred compensation" within the meaning of Section 409A of the Code ("Section 409A") and Executive is a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) of the Code, no payments of any of such benefit shall made for six (6) months plus one (1) day after the effective date of Execu...tive's Separation from Service (the "New Payment Date"). The aggregate of any such payments that would have otherwise been paid during the period between the date of Separation from Service and the New Payment Date shall be paid to the Executive in a lump sum on the New Payment Date. The Parties hereby acknowledge and agree that the interpretation of Section 409A and its application to the terms of this Agreement are uncertain and may be subject to change as additional guidance becomes available, and that all benefits or payments provided by the Employer to Executive pursuant to this Agreement that would be deemed to constitute "nonqualified deferred compensation" within the meaning of Section 409A are intended to comply with Section 409A. If, however, any such benefit or payment is deemed to not comply with Section 409A, Employer and Executive agree to attempt to renegotiate in good faith any such benefit or payment so that either (a) Section 409A will not apply or (b) compliance with Section 409A will be achieved. If any severance or other payments that are required by the Agreement are to be paid in a series of installment payments, each individual payment in the series shall be considered a separate payment for purposes of Section 409A. View More Arrow
Found in EYENOVIA, INC. contract
EYENOVIA, INC. Contracts

Executive Employment Agreement, dated February 15, 2019, by and between the Company and Tsontcho Ianchulev (Filed With SEC on February 19, 2019)

Executive Employment Agreement, dated February 15, 2019, by and between the Company and John Gandolfo (Filed With SEC on February 19, 2019)

Executive Employment Agreement, dated February 15, 2019, by and between the Company and Luke Clauson (Filed With SEC on February 19, 2019)

Executive Employment Agreement, dated February 15, 2019, by and between the Company and Michael Rowe (Filed With SEC on February 19, 2019)

Executive Employment Agreement, dated February 15, 2019, by and between the Company and Jennifer Clasby (Filed With SEC on February 19, 2019)