Common use of Section 409A of the Internal Revenue Code – General Provisions Clause in Contracts

Section 409A of the Internal Revenue Code – General Provisions. 14.1 It is the intention of the Company and you that this Agreement shall comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). All payments under this Agreement are intended to be excluded from the requirements of Section 409A or be payable on a fixed date or schedule under Section 409A. All payments made under this Agreement shall be strictly paid in accordance with the terms of this Agreement. To the extent that this Agreement is subject to Section 409A, notwithstanding the other provisions hereof, all provisions herein, or incorporated by reference, shall be construed and interpreted to comply with Section 409A. Each payment of compensation under this Agreement shall be treated as a separate payment of compensation for purposes of Section 409A.

Section 409A of the Internal Revenue Code – General Provisions. 14.1 (a) It is the intention of the Company and you that this the Agreement shall comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). All payments under this the Agreement are intended to be excluded from the requirements of Section 409A or be payable on a fixed date or schedule under Section 409A. All payments made under this the Agreement shall be strictly paid in accordance with the terms of this the Agreement. To the extent that this the Agreement is subject to Section 409A, notwithstanding the other provisions hereof, all provisions herein, or incorporated by reference, shall be construed and interpreted to comply with Section 409A. Each payment of compensation under this the Agreement shall be treated as a separate payment of compensation for purposes of Section 409A.