Common use of American Jobs Creation Act of 2004 Clause in Contracts

American Jobs Creation Act of 2004. In the event that any of the compensation or benefits payable to the Employee hereunder are considered to be non-qualified deferred compensation subject to the American Jobs Creation Act of 2004 (the "Jobs Act") and any regulations issued or to be issued by the Department of the Treasury thereunder, the Company and the Employee shall negotiate in good faith and agree to such amendments to this Agreement as they and their respective tax counsel deem necessary to avoid the imposition of additional taxes and penalties under the Jobs Act or such regulations, while preserving the economic benefits intended to be conferred on the Employee by this Agreement.