Internal Revenue Code Section 409A. (a) It is intended that this Agreement comply with the provisions of Section 409A of the Code so as not to subject Executive to the payment of additional taxes and interest under Section 409A of the Code. In furtherance of this intent, this Agreement shall be interpreted, operated and administered in a manner consistent with these intentions, and to the extent that any regulations or other guidance issued under Section 409A of the Code would result in Executive being subject to payment of additional income taxes or interest under Section 409A of the Code, the parties agree to amend this Agreement to maintain to the maximum extent practicable the original intent of the Agreement while avoiding the application of such taxes or interest under Section 409A of the Code.
Appears in 17 contracts
Samples: Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.)
Internal Revenue Code Section 409A. (a) It is intended that this Agreement comply with the provisions of Section 409A of the Code so as not to subject Executive to the payment of additional taxes and interest under Section 409A of the Code. In furtherance of this intent, this Agreement shall be interpreted, operated and administered in a manner consistent with these intentions, and to the extent that any regulations or other guidance issued under Section 409A of the Code would result in Executive being subject to payment of additional income taxes or interest under Section 409A of the Code, the parties Parties agree to amend this Agreement to maintain to the maximum extent practicable the original intent of the Agreement while avoiding the application of such taxes or interest under Section 409A of the Code.
Appears in 6 contracts
Samples: Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.), Employment Agreement (Midland States Bancorp, Inc.)
Internal Revenue Code Section 409A. (a) It is intended that this Agreement shall comply with the provisions of Section 409A of the Code so as not to subject Executive to the payment of additional taxes and interest under Section 409A of the Code. In furtherance of this intent, this Agreement shall be interpreted, operated and administered in a manner consistent with these intentions, and to the extent that any regulations or other guidance issued under Section 409A of the Code would result in Executive being subject to payment of additional income taxes or interest under Section 409A of the Code, the parties agree to amend this Agreement to maintain to the maximum extent practicable the original intent of the Agreement while avoiding the application of such taxes or interest under Section 409A of the Code.
Appears in 2 contracts
Samples: Transitional Employment Agreement (Midland States Bancorp, Inc.), Transitional Employment Agreement (Midland States Bancorp, Inc.)
Internal Revenue Code Section 409A. (a) It is intended that this Agreement be exempt from or comply with the provisions of Section 409A of the Code so as not to subject Executive to the payment of additional taxes and interest under Section 409A of the Code. In furtherance of this intent, this Agreement shall be interpreted, operated and administered in a manner consistent with these intentions, and to the extent that any regulations or other guidance issued under Section 409A of the Code would result in Executive being subject to payment of additional income taxes or interest under Section 409A of the Code, the parties agree to amend this Agreement to maintain to the maximum extent practicable the original intent of the Agreement while avoiding the application of such taxes or interest under Section 409A of the Code.
Appears in 2 contracts
Samples: Change of Control Agreement (Midland States Bancorp, Inc.), Change of Control Agreement (Midland States Bancorp, Inc.)