Section 409A Exempt Amount

Section 409A Exempt Amount. Means (a) two (2) multiplied by the lesser of (i) Participant's annualized compensation based upon the annual rate of pay for services provided to the Company for the calendar year preceding the calendar year in which Participant has a Separation from Service (adjusted for any increase during that year that was expected to continue indefinitely if the service provider had not separated from service) or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to... Code Section 401(a)(17) for the year in which Participant has a Separation from Service, less (b) the value of the Severance Benefits Continuation or CIC Benefits Continuation, as applicable (but excluding payments or benefits described in paragraphs (b)(9)(iv) and (v) of Treasury Regulation Section 1.409A-1). View More

Section 409A Exempt Amount. Two times the lesser of (i) a Participant's annualized compensation based upon the annual rate of pay for services provided to the Employer for the calendar year preceding the calendar year of the Participant's Date of Termination (adjusted for any increase during that year that was expected to continue indefinitely if the Participant had not separated from service) or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for... the year in which the Participant's Date of Termination occurs. View More