Section 409A Exempt Amount

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