Document ID: 10055

Text:
(b) Each payment under this Agreement, including each installment payment, shall be considered a separate and distinct payment. For purposes of this Agreement, each payment is intended to be excepted from Section409A to the maximum extent provided as follows: (i)each payment made within the applicable 2 month period specified in Treas. Reg. 1.409A-1(b)(4)is intended to be excepted under the short-term deferral exception; (ii)post- termination medical benefits are intended to be excepted under the medical benefits exception as specified in Treas. Reg. 1.409A-1(b)(9) (v)(B); and (iii)to the extent payments are made as a result of an involuntary separation, each payment that is not otherwise excepted under the short-term deferral exception or medical benefits exception is intended to be excepted under the involuntary pay exception as specified in Treas. Reg. 1.409A-1(b)(9)(iii). With respect to payments subject to Section409A (and not excepted therefrom), if any, it is intended that each payment is paid on a permissible distribution event and at a specified time consistent with Section409A . Neither the Company nor Executive shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically permitted or required by Section409A. Executive shall have no right to designate the date or any payment under this Agreement.

Named Entities:
60
66
Regulation
105
111
Regulation
172
178
Regulation

Tokenized Text:
(
b
)
Each
payment
under
this
Agreement
,
including
each
installment
payment
,
shall
be
considered
a
separate
and
distinct
payment
.
For
purposes
of
this
Agreement
,
each
payment
is
intended
to
be
excepted
from
Section409A
to
the
maximum
extent
provided
as
follows
:
(
i
)
each
payment
made
within
the
applicable
2
month
period
specified
in
Treas
.
Reg
.
1
.
409A-1
(
b
)
(
4
)
is
intended
to
be
excepted
under
the
short-term
deferral
exception
;
(
ii
)
post
-
termination
medical
benefits
are
intended
to
be
excepted
under
the
medical
benefits
exception
as
specified
in
Treas
.
Reg
.
1
.
409A-1
(
b
)
(
9
)
(
v
)
(
B
)
;
and
(
iii
)
to
the
extent
payments
are
made
as
a
result
of
an
involuntary
separation
,
each
payment
that
is
not
otherwise
excepted
under
the
short-term
deferral
exception
or
medical
benefits
exception
is
intended
to
be
excepted
under
the
involuntary
pay
exception
as
specified
in
Treas
.
Reg
.
1
.
409A-1
(
b
)
(
9
)
(
iii
)
.
With
respect
to
payments
subject
to
Section409A
(
and
not
excepted
therefrom
)
,
if
any
,
it
is
intended
that
each
payment
is
paid
on
a
permissible
distribution
event
and
at
a
specified
time
consistent
with
Section409A
.
Neither
the
Company
nor
Executive
shall
have
the
right
to
accelerate
or
defer
the
delivery
of
any
such
payments
or
benefits
except
to
the
extent
specifically
permitted
or
required
by
Section409A
.
Executive
shall
have
no
right
to
designate
the
date
or
any
payment
under
this
Agreement
.