Common use of Conditions to Reimbursement Clause in Contracts

Conditions to Reimbursement. The following provisions shall be in effect for any reimbursements to which the Executive otherwise becomes eligible under this Agreement in order to assure that such reimbursements do not create a deferred compensation arrangement subject to Section 409A of the Code: (i) The amount of reimbursements to which the Executive may become entitled in any one calendar year shall not affect the amount of expenses eligible for reimbursement hereunder in any other calendar year. (ii) Each reimbursement to which the Executive becomes entitled shall be made no later than the close of business of the calendar year following the calendar year in which the reimbursable expense is incurred. (iii) The Executive’s right to reimbursement cannot be liquidated or exchanged for any other benefit or payment.

Conditions to Reimbursement. The following provisions shall be in effect for any reimbursements to which the Executive otherwise becomes eligible entitled under this Agreement in order to assure that such reimbursements do not create a deferred compensation arrangement subject to Section 409A of the Code409A: (i) The amount of reimbursements to which the Executive may become entitled in any one calendar year shall not affect the amount of expenses eligible for reimbursement hereunder in any other calendar year. (ii) Each reimbursement to which the Executive becomes entitled shall be made by the Corporation as soon as administratively practicable following Executive’s submission of the Supporting Documentation, but in no event later than the close of business of the calendar year following the calendar year in which the reimbursable expense is incurred. (iii) The Executive’s right to reimbursement cannot be liquidated or exchanged for any other benefit or payment.

Conditions to Reimbursement. The following provisions shall be in effect for any reimbursements to which the Executive otherwise becomes eligible under this Agreement in order to assure that such reimbursements do not create a deferred compensation arrangement subject to Section 409A of the Code: (i) The amount of reimbursements to which the Executive may become entitled in any one calendar year shall not affect the amount of expenses eligible for reimbursement hereunder in any other calendar year. (ii) Each reimbursement to which the Executive becomes entitled shall be made no later than the close of business of the calendar year following the calendar year in which the reimbursable expense is incurred. (iii) The Executive’s right to reimbursement cannot be liquidated or exchanged for any other benefit or payment.