Common use of Service Recipient Clause in Contracts

Service Recipient. Provided that such term shall be interpreted within the meaning of regulations promulgated under Code Section 409A, Service Recipient shall mean the Employer or person for whom the services are performed and with respect to whom the legally binding right to compensation arises, and all persons with whom such person would be considered a single employer under Code Section 414(b) (employees of controlled group of corporations), and all persons with whom such person would be considered a single employer under Code Section 414(c) (employees of partnerships, proprietorships, etc., under common control).

Appears in 5 contracts

Samples: Nonqualified Deferred Compensation Plan Agreement (Uwharrie Capital Corp), Nonqualified Deferred Compensation Plan (Uwharrie Capital Corp), Nonqualified Deferred Compensation Plan (Uwharrie Capital Corp)

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Service Recipient. Provided that such term shall be interpreted within the meaning of As provided by regulations promulgated under Code Section 409A, Service Recipient shall mean the Employer or person for whom the services are performed and with respect to whom the legally binding right to compensation arises, and all persons with whom such person would be considered a single employer under Code Section 414(b) (employees of controlled group of corporations), and all persons with whom such person would be considered a single employer under Code Section 414(c4I4(c) (employees of partnerships, proprietorships, etc., under common control).

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan Participation Agreement (Cardinal Bankshares Corp)

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