Compliance with Section 409A definition

Compliance with Section 409A. The parties intend that any payments provided for in this Agreement that constitute benefits in the nature of nonqualified deferred compensation subject to Code Section 409A are to be paid in a time and manner that is permitted under that section of the Code. In connection with this intent, and notwithstanding any provision of the Agreement to the contrary, payments of severance that are treated as deferred compensation subject to Code Section 409A shall be made in installments over the relevant period of months corresponding to the number of months used to determine the amount of severance payable and paid on the basis of the Company’s normal, periodic payroll practices, and any payments of deferred compensation that would violate the prohibition on certain nonqualified deferred compensation payments being made to specified employees during the six (6) month period following separation from service under Code Section 409A(a)(2)(B)(i) shall be paid on the date that is six months following Executive’s separation from service. In addition, any payments hereunder that are payable by reason of Executive’s termination of employment shall only be paid upon Executive’s “separation from service” (as that term is defined in regulations issued pursuant to Code Section 409A), and any payments that are in the nature of reimbursements or payments of a “tax gross-up” shall be paid at the time and in the manner provided in applicable Treasury Regulations pursuant to which reimbursements or tax gross-up payments may be treated as being paid at a specified time or on a fixed schedule so as to be compliant with Code Section 409A.”
Sample 1

Examples of Compliance with Section 409A in a sentence

  • Except as provided by Section 22 [Compliance with Section 409A], no provision of this Agreement may be amended or modified except in a document signed by the Executive and such person as may be designated by the Company.

  • Except as provided by Section 22 [Compliance with Section 409A], no provision of this Agreement may be amended or modified except in a document signed by the Executive and the chairman of the Committee or such other person as may be designated by the Board.

  • Notwithstanding the foregoing, delivery of shares of Common Stock will be delayed, if applicable under the circumstances, to the extent provided under Section 4.14 (Compliance with Section 409A).

  • Certain Limitations on Awards to Ensure Compliance with Section 409A.

  • All of the provisions of Exhibit A to this Agreement, captioned “Tax Provision Exhibit – 280G Gross-Up, Compliance with Section 409A, and 409A Gross-Up” will apply as between Nordson and Employee as fully if those provisions had been written directly into the body of this Agreement.

  • The release of claims contemplated by Section 7 (Release of Claims) and 16(d) (Compliance with Section 409A) of the CIC Agreement (the “Release Condition”) is attached hereto as Exhibit F (the “Executive Release”).

  • The Cash Severance will be paid in a lump sum on the Company’s first regular payroll date that is at least one (1) week following the effectiveness of the Release (defined below) (subject to the Compliance with Section 409A provision set forth below).

  • The Board is authorized to make deferrals of Awards and determine when, and in what annual percentages, Participants may receive payments, including lump sum payments, following the Participant’s termination of Continuous Service, and implement such other terms and conditions consistent with the provisions of the Plan and in accordance with applicable law.(j) Compliance with Section 409A.

  • The Board may approve such supplements to or amendments, restatements or alternative versions of the Plan as it may consider necessary or appropriate for such purposes, without thereby affecting the terms of the Plan as in effect for any other purpose, and the Secretary or other appropriate officer of the Company may certify any such document as having been approved and adopted in the same manner as the Plan.(g) Compliance with Section 409A of the Code.

  • The Bonus Severance will be paid in a lump sum on the Company’s first regular payroll date that is at least one (1) week following the effectiveness of the Release (subject to the Compliance with Section 409A provision set forth below).

Related to Compliance with Section 409A

  • Code Section 409A means Section 409A of the Code and the regulations and guidance promulgated thereunder.

  • Section 409A means Section 409A of the Code and the regulations and other guidance promulgated thereunder.

  • Section 409A of the Code means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable treasury regulations and other official guidance thereunder.

  • the Code means the Pension Regulator’s Code of Practice No 14 governance and administration of public service pension schemes.

  • the Regulations means the Local Government: Municipal Finance Management Act, 2003, Municipal Supply Chain Management Regulations published by Government Notice 868 of 2005;

  • Internal Revenue Code means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder.

  • the Regulation means the Associations Incorporation Regulation 2010.

  • U.S. Internal Revenue Code means the United States Internal Revenue Code of 1986, as amended.

  • HIPAA Regulations means the regulations promulgated under HIPAA by the United States Department of Health and Human Services, including, but not limited to, 45 C.F.R. Part 160 and 45 C.F.R. Part 164.

  • Treasury Regulations means the regulations promulgated under the Code.

  • IRC means the Internal Revenue Code of 1986, as amended.

  • Privacy Regulations means the Privacy and Electronic Communications (EC Directive) Regulations 2003 as amended in 2004, 2011, 2015 and 2016 and as may be further amended from time to time;

  • SEBI Regulations means the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 together with the circulars issued thereunder, including any statutory modification(s) or re-enactment(s) thereof for the time being in force.

  • TUPE Regulations means the Transfer of Undertakings (Protection of Employment) Regulations 2006, as amended.

  • Compliant status achieved pursuant to this paragraph shall continue until NYISO takes the requested PAR tap, or the Parties agree that NYISO not taking the requested PAR tap is no longer preventing PJM from taking the PAR tap(s) (if any) PJM needs to achieve compliance at the JK interface. If PJM cannot take a required tap at a Waldwick PAR because the change would result in an actual or post-contingency overload on either or both of the JK lines, or on any of the Waldwick PARs, and the overload cannot be addressed through NYISO taking taps at ABC or Ramapo, then PJM will be considered “Compliant” at the JK interface until the condition is resolved. PJM will be responsible for demonstrating both the occurrence and duration of the condition.

  • Exempt in reference to a case means a case designated as involving exceptional circumstances under CRC 3.714.

  • WHFIT Regulations Treasury Regulations section 1.671-5, as amended.

  • Fair Labor Standards Act means the Fair Labor Standards Act, 29 U.S.C. §201 et seq.

  • ISA Regulations means The Individual Savings Account Regulations 1998, as amended or replaced from time to time.