Effect of Section 409A. It is expressly contemplated by the parties that this Agreement will conform to, and be interpreted to comply with the final regulations issued under Section 409A of the Code. Notwithstanding any other provision of this Agreement, if the Executive does not sign this agreement prior to December 31, 2008, all amounts owed under the Prior Plan shall become subject to the provisions of Section 409A of the Code and the Executive shall be required to pay all applicable taxes, interest and penalties that may be due under Section 409A of the Code.
Appears in 3 contracts
Sources: Deferred Compensation and Settlement Agreement (Fpic Insurance Group Inc), Deferred Compensation and Settlement Agreement (Fpic Insurance Group Inc), Deferred Compensation and Settlement Agreement (Fpic Insurance Group Inc)