Common use of In-Kind Benefits Clause in Contracts

In-Kind Benefits. All in-kind benefits provided under this Agreement that constitute deferred compensation within the meaning of Section 409A of the Code shall be made or provided in accordance with the requirements of Section 409A of the Code, including, without limitation, that (i) the amount of in-kind benefits that the Company is obligated to pay or provide in any given calendar year shall not affect the in-kind benefits that the Company is obligated to pay or provide in any other calendar year, (ii) the Executive’s right to have the Company pay or provide such in-kind benefits may not be liquidated or exchanged for any other benefit, and (iii) in no event shall the Company’s obligations to make such reimbursements or to provide such in-kind benefits apply later than the Executive’s remaining lifetime (or if longer, through the twentieth (20th) anniversary of the Effective Date).

Appears in 8 contracts

Samples: Non Competition Agreement (Webster Financial Corp), Non Competition Agreement (Webster Financial Corp), Non Competition Agreement (Webster Financial Corp)

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In-Kind Benefits. All in-kind benefits provided under this Agreement that constitute nonqualified deferred compensation within the meaning of Section 409A of the Code shall be made paid or provided in accordance with the requirements of Section 409A of the Code, Code including, without limitation, that (i) the amount of in-kind benefits that the Company is obligated to pay or provide in any given calendar year shall not affect the in-kind benefits that the Company is obligated to pay or provide in any other calendar year, ; (ii) the Executive’s right to have the Company pay or provide such an in-kind benefits benefit may not be liquidated or exchanged for any other benefit, ; and (iii) in no event shall the Company’s obligations to make such reimbursements or to provide such in-kind benefits apply later than the Executive’s remaining lifetime (or or, if longer, through the twentieth (20th) 20th anniversary of the Effective Date).

Appears in 6 contracts

Samples: Non Competition Agreement (Webster Financial Corp), Non Competition Agreement (Webster Financial Corp), Non Competition Agreement (Webster Financial Corp)

In-Kind Benefits. All in-kind benefits provided under this Agreement that constitute nonqualified deferred compensation within the meaning of Section 409A of the Code shall be made or provided in accordance with the requirements of Section 409A of the Code, Code including, without limitation, that (i) the amount of in-kind benefits that the Company is obligated to pay or provide in any given calendar year shall not affect the in-kind benefits that the Company is obligated to pay or provide in any other calendar year, ; (ii) the Executive’s right to have the Company pay or provide such an in-kind benefits benefit may not be liquidated or exchanged for any other benefit, ; and (iii) in no event shall the Company’s obligations to make such reimbursements or to provide such in-kind benefits apply later than the Executive’s remaining lifetime (or if longer, through the twentieth (20th) 20th anniversary of the Effective Date).

Appears in 3 contracts

Samples: Non Competition Agreement (Webster Financial Corp), Non Competition Agreement (Webster Financial Corp), Non Competition Agreement (Webster Financial Corp)

In-Kind Benefits. All in-kind benefits provided under this Agreement that constitute nonqualified deferred compensation within the meaning of Section 409A of the Code shall be made or provided in accordance with the requirements of Section 409A of the Code, Code including, without limitation, that (i) the amount of in-kind benefits that the Company is obligated to pay or provide in any given calendar year shall not affect the in-kind benefits that the Company is obligated to pay or provide in any other calendar year, ; (ii) the Executive’s 's right to have the Company pay or provide such an in-kind benefits benefit may not be liquidated or exchanged for any other benefit, ; and (iii) in no event shall the Company’s 's obligations to make such reimbursements or to provide such in-kind benefits apply later than the Executive’s 's remaining lifetime (or if longer, through the twentieth (20th) 20th anniversary of the Effective Date).

Appears in 1 contract

Samples: Non Competition Agreement (Webster Financial Corp)

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In-Kind Benefits. All in-kind benefits provided under this Agreement that constitute nonqualified deferred compensation within the meaning of Section 409A of the Code shall be made or provided in accordance with the requirements of Section 409A of the Code, including, without limitation, that (i) the amount of in-kind benefits that the Company is obligated to pay or provide in any given calendar year shall not affect the in-kind benefits that the Company is obligated to pay or provide in any other calendar year, ; (ii) the Executive’s right to have the Company pay or provide such an in-kind benefits benefit may not be liquidated or exchanged for any other benefit, ; and (iii) in no event shall the Company’s obligations to make such reimbursements or to provide such in-kind benefits apply later than the Executive’s remaining lifetime (or if longer, through the twentieth (20th) 20th anniversary of the Effective Date).

Appears in 1 contract

Samples: Form of Non Competition Agreement (Webster Financial Corp)

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