Treatment as Separation Pay. This Section 12 shall not apply to the extent such payments can be considered to be separation pay that is not part of a deferred compensation arrangement under Section 409A. If permitted by Section 409A, cash payments to Executive pursuant to Sxxxxxx 0, 0, 0 xxx 00 xxxxx xx considered first to come from separation pay.
Appears in 5 contracts
Samples: Employment Agreement (First Community Bancshares Inc /Nv/), Employment Agreement (First Community Bancshares Inc /Nv/), Employment Agreement (First Community Bancshares Inc /Nv/)
Treatment as Separation Pay. This Section 12 shall not apply to the extent such payments can be considered to be separation pay that is not part of a deferred compensation arrangement under Section 409A. If permitted by Section 409A, cash payments to Executive pursuant to Sxxxxxx Xxxxxxx 0, 0, 0 xxx 00 xxxxx xx considered first to come from separation pay.
Appears in 2 contracts
Samples: Executive Employment Agreement (Parkway Acquisition Corp.), Executive Employment Agreement (Parkway Acquisition Corp.)
Treatment as Separation Pay. This Section 12 shall not apply to the extent such payments can be considered to be separation pay that is not part of a deferred compensation arrangement under Section 409A. If permitted by Section 409A, cash payments to Executive pursuant to Sxxxxxx Sexxxxx 0, 0, 0 xxx 00 xxxxx xx considered xonsidered first to come from separation pay. Toward this end, the installment payments contemplated or required by this Agreement shall be treated as a series of separate payments for Section 409A purposes.
Appears in 1 contract
Samples: Executive Employment Agreement (Parkway Acquisition Corp.)
