Common use of Taxes, Interest and Penalties Are Obligation of the Executive Clause in Contracts

Taxes, Interest and Penalties Are Obligation of the Executive. Notwithstanding any of the provisions of this Agreement, the Company shall not be liable to the Executive if any payment or benefit which is to be provided pursuant to this Agreement or otherwise and which is considered deferred compensation subject to Section 409A of the Code fails to comply with, or be exempt from, the requirements of Section 409A of the Code.