Treatment as Separation Pay. Section 2 of this Amendment will 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, payments to the Executive pursuant to Section 6.04 of the Agreement shall be considered first to come from “separation pay.”
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Samples: Employment Termination Benefits Agreement (Astronics Corp), Employment Termination Benefits Agreement (Astronics Corp), Employment Termination Benefits Agreement (Astronics Corp)
Treatment as Separation Pay. Section 2 of this Amendment will 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, payments to the Executive pursuant to Section 6.04 9 of the Agreement shall be considered first to come from “separation pay.”
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