Section 409A Separation from Service definition

Section 409A Separation from Service means a separation from service with the Company and affiliated entities, as defined in Code Section 409A and guidance issued thereunder. As a general overview, under Code Section 409A, an employee will separate from service if the employee dies, retires, or otherwise has a termination of employment determined in accordance with the following:
View Source
Section 409A Separation from Service means a separation from service from the Company within the meaning of Section 409A.
View Source

Examples of Section 409A Separation from Service in a sentence

  • Any payments or distributions to be made to Executive under this Agreement upon a separation from service of amounts classified as “nonqualified deferred compensation” for purposes of Code Section 409A, and not exempt from Code Section 409A, shall in no event be made or commence until six months after Executive’s Section 409A Separation from Service.

  • Such amount shall be paid to Executive in a lump-sum payment in cash (without discounting or any other adjustment for the time value of money) within 30 days after the date of Executive’s Section 409A Separation from Service.

  • Notwithstanding the foregoing, the payment of any portion of the Continued Salary Payments that (A) is not exempt from Code Section 409A, and (B) is payable (based on the payment schedule hereinabove) before, or within the six-month period immediately following, the date of Executive’s Section 409A Separation from Service, will be delayed and will be made in a single lump-sum cash payment upon the day after the six-month anniversary of Executive’s Section 409A Separation from Service.

  • Notwithstanding the foregoing, if the Prorated Bonus (or any portion thereof) is not exempt from Code Section 409A, the Prorated Bonus (or such portion) will be paid in a single lump-sum cash payment upon the day after the six-month anniversary of Executive’s Section 409A Separation from Service.

  • All amounts payable pursuant to this clause (v) shall be paid to Executive, or, if applicable, Executive’s spouse, estate or other beneficiary, in one lump-sum cash payment within 30 days after the date of Executive’s termination of employment, with any portion of such amount that is not exempt from Code Section 409A to be paid upon the day after the six-month anniversary of Executive’s Section 409A Separation from Service.

  • Separation pay shall be paid in accordance with the schedule set forth below upon a termination of employment that constitutes a "separation from service" as defined under Section 409A ("Separation from Service").

  • Upon receipt of any writing that, in the opinion of Parent, reasonably appears to have been signed by the Stockholder Agent, Parent, the Company, Merger Sub, the Payment Agent and the Escrow Agent may each act upon the same without any further duty of inquiry as to the genuineness of the writing.

  • Notwithstanding the foregoing, the parties acknowledge that they should reassess the anticipated level of services as of the date of Executive’s termination of employment to confirm that it is sufficiently limited so that such termination date will be the date of Executive’s Section 409A Separation from Service.

  • While it is anticipated Executive’s Section 409A Separation from Service will occur on the date that his employment terminates, this Agreement is drafted to take into account the chance that it will not.

  • Notwithstanding the foregoing, if (x) the Prorated Bonus is not exempt from Code Section 409A, and (y) the Prorated Bonus is payable (based on the payment timing hereinabove) within the six-month period immediately following the date of Executive’s Section 409A Separation from Service, the payment of the Prorated Bonus will be delayed and will be made in a single lump-sum cash payment upon the day after the six-month anniversary of Executive’s Section 409A Separation from Service.