Order of Reductions. Any such reduction shall be made in accordance with Section 409A and the following: (a) the Covered Payments that do not constitute nonqualified deferred compensation subject to Section 409A shall be reduced first; and (b) all other Covered Payments shall then be reduced as follows: (A) cash payments shall be reduced before non-cash payments; and (B) payments to be made on a later payment date shall be reduced before payments to be made on an earlier payment date.
Appears in 4 contracts
Samples: Employment Agreement (Iteris, Inc.), Employment Agreement (Iteris, Inc.), Change in Control Agreement (Iteris, Inc.)
