Excerpt: Although the Notice provides guidance, its examples also give employers cause for concern. For example: ... The phrase 'termination of employment' may violate section 409A if it leads to payments in situations not permitted under section 409A (for example, where an employee reduces their hours or is re-hired as an independent contractor providing significant services after termination of employment). Previously, the IRS had informally indicated that the term was acceptable.... [Further, severance] payments contingent on a release of claims or the end of a rescission period may violate section 409A (if the compensation to be paid is subject to section 409A).