Common use of Section 409A Matters Clause in Contracts

Section 409A Matters. (a) Notwithstanding any other provision in this Agreement to the contrary, if and to the extent that Code Section 409A is deemed to apply to any benefit under this Agreement, it is the general intention of the Company that such benefits shall, to the extent practicable, comply with, or be exempt from, Code Section 409A, and this Agreement shall, to the extent practicable, be construed in accordance therewith. Deferrals of benefits distributable pursuant to this Agreement that are otherwise exempt from Code Section 409A in a manner that would cause Code Section 409A to apply shall not be permitted unless such deferrals are in compliance with or otherwise exempt from Code Section 409A.

Section 409A Matters. (a) Notwithstanding any other provision in this Agreement to the contrary, if and to the extent that Code Section 409A of the Code is deemed to apply to any payment or benefit under this Agreement, it is the general intention of the Company that such benefits payment or benefit shall, to the extent practicable, comply with, or be exempt from, Code Section 409A409A of the Code, and this Agreement shall, to the extent practicable, be construed in accordance therewithwith such intent. Deferrals of payments or benefits distributable pursuant to this Agreement that are otherwise exempt from Code Section 409A of the Code in a manner that would cause Code Section 409A of the Code to apply shall not be permitted unless such deferrals are in compliance with or otherwise exempt from Code Section 409A.409A of the Code.