Common use of Exemption from Section 409A Clause in Contracts

Exemption from Section 409A. All payments hereunder are intended to be exempt from Section 409A of the Code pursuant to the “short-term deferral rule” under Treasury Regulation 1.409A-1(b)(4).

Appears in 3 contracts

Sources: Management Continuity Agreement (FNB Bancorp/Ca/), Management Continuity Agreement (FNB Bancorp/Ca/), Management Continuity Agreement (FNB Bancorp/Ca/)