Benefit Reduction. If the Change in Control does not constitute a Hostile Take-Over, first the dollar amount of your severance payment under Paragraph 1 will be reduced to the extent necessary to assure that the present value of those benefits will not, when added to the present value of your Equity Parachute Payment and your Other Parachute Payments, exceed 2.99
Appears in 16 contracts
Samples: August (Ligand Pharmaceuticals Inc), Ligand Pharmaceuticals Inc, Ligand Pharmaceuticals Inc