Common use of Effect of Section 409A of the Code Clause in Contracts

Effect of Section 409A of the Code. The parties intend that the provisions of this Agreement will operate in a manner that will avoid adverse federal income tax consequences under section 409A of the Code. The Employee hereby acknowledges and agrees that the Company may take any actions deemed necessary in its sole discretion to avoid adverse federal income tax consequences under section 409A of the Code and that such action may be taken without the consent of the Employee.

Effect of Section 409A of the Code. The parties intend that the provisions of this Agreement will operate in a manner that will avoid adverse federal income tax consequences under section Section 409A of the Code. The Employee Executive hereby acknowledges and agrees that the Company may take any actions deemed necessary in its sole discretion to avoid adverse federal income tax consequences under section 409A of the Code and that such action may be taken without the consent of the EmployeeExecutive.