Section 409a Clause Example from Business Contracts
This example Section 409a clause appears in
4 contracts
from
1 company
Section 409a. It is intended that all of the severance benefits and other payments payable under this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Code Section 409A provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9), and this Agreement will be construed to the greatest extent possible as consistent with those provisions, and to the extent no so exempt, this Agreement (and any definitions hereunder) will be construed in a manner t
...hat complies with Section 409A. For purposes of Code Section 409A (including, without limitation, for purposes of Treasury Regulation — 7 — Section 1.409A-2(b)(2)(iii)), your right to receive any installment payments under this Agreement (whether severance payments, reimbursements or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment. Notwithstanding any provision to the contrary in this Agreement, if you are deemed by the Company at the time of your Separation from Service to be a "specified employee" for purposes of Code Section 409A(a)(2)(B)(i), and if any of the payments upon Separation from Service set forth herein and/or under any other agreement with the Company are deemed to be "deferred compensation," then to the extent delayed commencement of any portion of such payments is required in order to avoid a prohibited distribution under Code Section 409A(a)(2)(B)(i) and the related adverse taxation under Section 409A, such payments shall not be provided to you prior to the earliest of (i) the expiration of the six-month period measured from the date of your Separation from Service with the Company, (ii) the date of your death or (iii) such earlier date as permitted under Section 409A without the imposition of adverse taxation. Upon the first business day following the expiration of such applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Paragraph shall be paid in a lump sum to you, and any remaining payments due shall be paid as otherwise provided herein or in the applicable agreement. No interest shall be due on any amounts so deferred. If a payment is subject to a release, and the release revocation period could span two years, then the payment will occur in the second of the two years if required in order to avoid taxation pursuant to Section 409A.
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Urovant Sciences Ltd. Contracts
Employment Agreement, dated September 13, 2018, by and between Christine G. Ocampo and Urovant Sciences, Inc
(Filed With SEC on September 17, 2018)
Employment Agreement, dated September 13, 2018, by and between Nori Ebersole and Urovant Sciences, Inc
(Filed With SEC on September 17, 2018)
Employment Agreement, dated September 13, 2018, by and between Michael McFadden and Urovant Sciences, Inc
(Filed With SEC on September 17, 2018)
Employment Agreement, dated September 13, 2018, by and between Bryan E. Smith and Urovant Sciences, Inc
(Filed With SEC on September 17, 2018)
