Interpretation and Compliance with Code Section 409A Clause Samples

Interpretation and Compliance with Code Section 409A. The captions at the head of a Section, subsection or a paragraph of this Agreement are designed for convenient reference only and are not to be used for the purpose of interpreting any provision of this Agreement. Except as provided in the following paragraph, this Agreement shall be construed according to the laws of the State of Minnesota without regard to its conflict of laws provisions. During the period between January 1, 2006, and December 31, 2006, Employer shall, operate and administer this Agreement in a manner that complies in good faith with Code Section 409A, Internal Revenue Service Notice 2005-1, the Proposed Regulations issued thereunder on October 4, 2005, and subsequent guidance issued under Code Section 409A, notwithstanding any contrary provisions of this Agreement. After December 31, 2006, this Agreement shall be operated and interpreted in a manner intended to comply with Code Section 409A and any Treasury Regulations issued thereunder.