SPECIAL AMENDMENTS. It is the intention of the Employers and the Executive that this Agreement, and all amounts payable to the Executive under this Agreement that are subject thereto, shall meet the requirements of Section 409A of the Code, to the extent applicable to the Agreement and such payments. The provisions of the Agreement shall be interpreted in a manner consistent with such intent, and the Employers and the Executive agree to cooperate in good faith in preparing and executing, from time to time, such amendments to the Agreement as may be reasonably necessary or appropriate in order to assure that the Agreement and such payments meet the requirements of Section 409A, provided, however, that no such amendment shall increase the cost to the Employers of providing benefits pursuant to the Agreement.
Appears in 5 contracts
Samples: Employment Agreement (Danvers Bancorp, Inc.), Employment Agreement (Danvers Bancorp, Inc.), Employment Agreement (Danvers Bancorp, Inc.)
