Common use of Amendments to Comply With Section 409A of the Internal Revenue Code Clause in Contracts

Amendments to Comply With Section 409A of the Internal Revenue Code. Notwithstanding the foregoing, if any provision of this Agreement would cause compensation to be includible in Director’s income pursuant to Section 409A(a)(1) of the Code, then, to the extent permitted by Section 409A, the Company may amend the Agreement in such a way as to cause substantially similar economic results without causing such inclusion; any such amendment shall be made by providing notice of such amendment to Director, and shall be binding on Director.

Amendments to Comply With Section 409A of the Internal Revenue Code. Notwithstanding the foregoing, if any provision of this Agreement would cause compensation to be includible in Director’s income pursuant to Section 409A(a)(1) of the Code, then, to the extent permitted by Section 409A, the Company may amend the Agreement in such a way as to cause substantially similar economic results without causing such inclusion; any such amendment shall be made by providing notice of such amendment to the Director, and shall be binding on Director.