Common use of No Acceleration Clause in Contracts

No Acceleration. The timing of payments and benefits under the Employment Agreement which constitute a deferral of compensation under Code Section 409A may not be accelerated to occur before the time specified for payment hereunder, except to the extent permitted under Treasury Regulation § 1.409A-3(j)(4) or as otherwise permitted under Code Section 409A without Employee incurring a tax penalty.

Appears in 5 contracts

Samples: Employment Agreement (Magellan Health Services Inc), Employment Agreement (Magellan Health Services Inc), Employment Agreement (Magellan Health Services Inc)

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No Acceleration. The timing of payments and benefits under the Employment Agreement which constitute a deferral of compensation under Code Section 409A may not be accelerated to occur before the time specified for payment hereunder, except to the extent permitted under Treasury Regulation § 1.409A-3(j)(4) or as otherwise permitted under Code Section 409A without Employee Executive incurring a tax penalty.

Appears in 2 contracts

Samples: Employment Agreement (Magellan Health Services Inc), Employment Agreement (Magellan Health Services Inc)

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