Definition of Specified Date

[Guest gaham]

I have a client who wants a deferred comp payment date to be based on certain "liquidation of the company" events. Assuming this date can be objectively determined, should I be concerned about whether this satisfies the requirement that the payment is made as of a "specified time or pursuant to a fixed schedule"?

[Steelerfan]

What's the purpose? If a liquidation is a change in control, then payment should be tied to CIC definition compliant with 409A. Otherwise it looks like you're trying to get around the rules prohibiting funding on insolvency.