Plan Language, Distributions from Nonqualified Deferred Compensation Plan Due to Unforeseeable Emergency | Practical Law

Plan Language, Distributions from Nonqualified Deferred Compensation Plan Due to Unforeseeable Emergency | Practical Law

A Standard Clause to be added to a nonqualified deferred compensation plan to provide for distributions due to an unforeseeable emergency. This Standard Clause has been drafted to comply with Section 409A of the Internal Revenue Code and has integrated notes with important explanations and drafting tips.

Plan Language, Distributions from Nonqualified Deferred Compensation Plan Due to Unforeseeable Emergency

by Practical Law Employee Benefits & Executive Compensation
MaintainedUSA (National/Federal)
A Standard Clause to be added to a nonqualified deferred compensation plan to provide for distributions due to an unforeseeable emergency. This Standard Clause has been drafted to comply with Section 409A of the Internal Revenue Code and has integrated notes with important explanations and drafting tips.