409A Interpretation Provision. The Company intends that this Agreement fully comply with the payout and other limitations and restrictions imposed under Code Section 409A if and to the extent such Code Section 409A is otherwise applicable to payments under this Agreement and such compliance is necessary to avoid the penalties otherwise imposed under Code Section 409A. In this connection, the Company and Executive agree that the payout timing provisions and any other terms of this Agreement shall be interpreted and deemed modified, if and to the extent necessary, to comply with the payout and other limitations and restrictions imposed under Code Section 409A if and to the extent such Code Section 409A is otherwise applicable to this Agreement and such compliance is necessary to avoid the penalties otherwise imposed under Code Section 409A.
Appears in 7 contracts
Samples: Change of Control Agreement (Poniard Pharmaceuticals, Inc.), Change of Control Agreement (Poniard Pharmaceuticals, Inc.), Change of Control Agreement (Poniard Pharmaceuticals, Inc.)
