Common use of Section 409A; Separate Payments Clause in Contracts

Section 409A; Separate Payments. This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment or benefits provided under this Agreement become subject to (a) the gross income inclusion set forth within Section 409A(a)(1)(A) of the Code or (b) the interest and additional tax set forth within Section 409A(a)(1)(B) of the Code (collectively, “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties. Notwithstanding the preceding, in no event shall the Company or any of its affiliates be required to provide a tax gross up payment to or otherwise reimburse Executive with respect to Section 409A Penalties or otherwise in connection with any taxes or penalties owed by Executive, and in no event is any particular tax treatment of any income recognized by Executive in connection with this Agreement guaranteed. For purposes of Section 409A of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), each payment that Executive may be eligible to receive under this Agreement shall be treated as a separate and distinct payment and shall not collectively be treated as a single payment.

Section 409A; Separate Payments. This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment or benefits provided under this the Agreement become subject to (ai) the gross income inclusion set forth within Section 409A(a)(1)(A) of the Code or (bii) the interest and additional tax set forth within Section 409A(a)(1)(B) of the Code (collectively, “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties. Notwithstanding the preceding, in In no event shall the Company or any of its affiliates Employer be required to provide a tax gross gross-up payment to Employee or otherwise reimburse Executive Employee with respect to any Section 409A Penalties or otherwise in connection with any taxes or penalties owed by ExecutivePenalties. Notwithstanding the foregoing, and in no event is any particular tax treatment of result for Employee with respect to any income recognized by Executive Employee in connection with this Agreement is guaranteed. For purposes of Section 409A of the Code (including, without limitation, including for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), each payment that Executive Employee may be eligible to receive under this Agreement shall be treated as a separate and distinct payment and shall not collectively be treated as a single payment.

Section 409A; Separate Payments. This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment or benefits provided under this the Agreement become subject to (a) the gross income inclusion set forth within Section 409A(a)(1)(A) of the Code or (b) the interest and additional tax set forth within Section 409A(a)(1)(B) of the Code (collectively, “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties. Notwithstanding the preceding, in In no event shall the Company or any of its affiliates Employer be required to provide a tax gross gross-up payment to the Employee or otherwise reimburse Executive the Employee with respect to Section 409A Penalties or otherwise in connection with any taxes or penalties owed by Executive, and in no event is any particular tax treatment of any income recognized by Executive in connection with this Agreement guaranteedPenalties. For purposes of Section 409A of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), each payment that Executive the Employee may be eligible to receive under this Agreement shall be treated as a separate and distinct payment and shall not collectively be treated as a single payment.