Section 409a Clause Example with 5 Variations from Business Contracts

This page contains Section 409a clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Section 409a. It is the intent of the parties that any payment to which the Executive is entitled under this Agreement be exempt from Section 409A of the Code, to the maximum extent permitted under Section 409A of the Code. However, if any such amounts are considered to be "nonqualified deferred compensation" subject to Section 409A of the Code, such amounts shall be paid and provided in a manner, and at such time and form, as complies with the applicable requirements of Section 409A of the Code to avoid the ...unfavorable tax consequences provided therein for non-compliance. Neither the Executive nor the Employer shall intentionally take any action to accelerate or delay the payment of any amounts in any manner which would not be in compliance with Section 409A of the Code without the consent of the other party. For purposes of this Agreement, all rights to payments shall be treated as rights to receive a series of separate payments to the fullest extent allowed by Section 409A of the Code. To the extent that some portion of the payments under this Agreement may be bifurcated and treated as exempt from Section 409A of the Code under the "short-term deferral" or "separation pay" exemptions, then such amounts may be so treated as exempt from Section 409A of the Code. View More
Found in TC Bancshares, Inc. contract

Variations of a "Section 409a" Clause from Business Contracts

Section 409a. It is the intent of the parties that any payment to which the Executive is entitled under this Agreement be exempt from Section 409A of the Code, Code to the maximum extent permitted under Section 409A of the Code. However, if to the extent any such amounts are considered to be "nonqualified deferred compensation" subject to Section 409A of the Code, such amounts shall be paid and provided in a manner, and at such time and form, as complies with the applicable requirements of Section 409A of the... Code to avoid the unfavorable tax consequences provided therein for non-compliance. Neither the Executive nor the Employer shall intentionally take any action to accelerate or delay the payment of any amounts in any manner which would not be in compliance with Section 409A of the Code without the consent of the other party. For purposes of this Agreement, all rights to payments shall be treated as rights to receive a series of separate payments to the fullest extent allowed by Section 409A of the Code. To the extent It is also intended that some portion of the payments satisfy, to the greatest extent possible, the exemptions from the application of Code Section 409A, including those provided under this Agreement may be bifurcated Treasury Regulations Section 1.409A-1(b)(4) (regarding short-term deferrals), Section 1.409A-1(b)(9)(iii) (regarding the severance pay exception) and treated as exempt from Section 409A of the Code under the "short-term deferral" or "separation pay" exemptions, then such amounts may be so treated as exempt from Section 409A of the Code. 1.409A-1(b)(9)(iv) (regarding reimbursements and other separation pay). View More
Found in 5 Contracts from NICOLET BANKSHARES INC
Section 409a. It is the intent of the parties Parties that any payment to which the Executive is entitled under this Agreement be exempt from Section 409A of the Code, Code ("Section 409A") to the maximum extent permitted under Section 409A of the Code. 409A. However, if any such amounts are considered to be "nonqualified deferred compensation" subject to Section 409A of the Code, 409A, such amounts shall be paid and provided in a manner, manner that, and at such time and form, as in such form as, complies wi...th the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance. Neither the Executive nor the Employer No Party shall intentionally take any action to accelerate or delay the payment of any amounts in any manner which would not be in compliance with Section 409A of the Code without the consent of the other party. Parties. For purposes of this Agreement, all rights to payments shall be treated as rights to receive a series of separate payments to the fullest extent allowed by Section 409A of the Code. 409A. To the extent that some portion of the payments provided for 12 under this Agreement may be bifurcated and treated as exempt from Section 409A of the Code under the "short-term deferral" or "separation pay" exemptions, then such amounts may be so treated as exempt from Section 409A of the Code. 409A. View More
Found in Reliant Bancorp, Inc. contract
Section 409a. It is the intent of the parties Parties that any payment to which the Executive is entitled under this Agreement be exempt from Section 409A of the Code, Code ("Section 409A") to the maximum extent permitted under Section 409A of the Code. 409A. However, if any such amounts are considered to be "nonqualified deferred compensation" subject to Section 409A of the Code, 409A, such amounts shall be paid and provided 12 in a manner, manner that, and at such time and form, as in such form as, complies... with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided for therein for non-compliance. Neither the Executive nor the Employer No Party shall intentionally take any action to accelerate or delay the payment of any amounts in any manner which would not be in compliance with Section 409A of the Code without the consent of the other party. Party. For purposes of this Agreement, all rights to payments shall be treated as rights to receive a series of separate payments to the fullest extent allowed by Section 409A of the Code. 409A. To the extent that some portion of the payments provided for under this Agreement may be bifurcated and treated as exempt from Section 409A of the Code under the "short-term deferral" or "separation pay" exemptions, then such amounts may be so treated as exempt from Section 409A of the Code. 409A. View More
Found in Reliant Bancorp, Inc. contract
Section 409a. It is the intent of the parties Parties that any payment to which the Executive is entitled under this Agreement be exempt from Section 409A of the Code, Code ("Section 409A") to the 12 maximum extent permitted under Section 409A of the Code. 409A. However, if any such amounts are considered to be "nonqualified deferred compensation" subject to Section 409A of the Code, 409A, such amounts shall be paid and provided in a manner, manner that, and at such time and form, as in such form as, complies... with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance. Neither the Executive nor the Employer No Party shall intentionally take any action to accelerate or delay the payment of any amounts in any manner which would not be in compliance with Section 409A of the Code without the consent of the other party. Parties. For purposes of this Agreement, all rights to payments shall be treated as rights to receive a series of separate payments to the fullest extent allowed by Section 409A of the Code. 409A. To the extent that some portion of the payments provided for under this Agreement may be bifurcated and treated as exempt from Section 409A of the Code under the "short-term deferral" or "separation pay" exemptions, then such amounts may be so treated as exempt from Section 409A of the Code. 409A. View More
Found in Reliant Bancorp, Inc. contract
Section 409a. It is the intent of the parties Parties that any payment to which the Executive is entitled under this Agreement be exempt from Section 409A of the Code, Code ("Section 409A") to the maximum extent permitted under Section 409A of the Code. 409A. However, if any such amounts are considered to be "nonqualified deferred compensation" subject to Section 409A of the Code, 409A, such amounts shall be paid and provided in a manner, manner that, and at such time and form, as in such form as, complies wi...th the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance. Neither the Executive nor the Employer No Party shall intentionally take any action to accelerate or delay the payment of any amounts in any manner which would not be in compliance with Section 409A of the Code without the consent of the other party. Parties. For purposes of this Agreement, all rights to payments shall be treated as rights to receive a series of separate payments to the fullest extent allowed by Section 409A of the Code. 409A. To the extent that some portion of the payments provided for under this Agreement may be bifurcated and treated as exempt from Section 409A of the Code under the "short-term deferral" or "separation pay" exemptions, then such amounts may be so treated as exempt from Section 409A of the Code. 409A. View More
Found in 2 Contracts from Reliant Bancorp, Inc.