Grandfathered Arrangement

Grandfathered Arrangement. An Arrangement to the extent that the Arrangement provides for payment of Deferred Compensation that is not subject to Code Section 409A because the Deferred Compensation payable thereunder was accrued and vested before January 1, 2005 and the terms of the Arrangement regarding the payment of such Deferred Compensation have not been altered by a "material modification" within the meaning of Regulation §1.409A-6(a)(4). For the purpose of the preceding sentence, in determining whether a material... modification has altered the terms of an Arrangement, this Policy shall be ignored. View More