Flexible Perquisite Program. During the Compensation Period, the Executive shall continue to receive benefits under the Program; provided, further, that in the event of an Involuntary Termination during the two (2) year period beginning on a Change of Control, ownership of the automobile assigned to the Executive immediately prior to such Termination shall be transferred to the Executive within fifteen (15) business days after such Termination. At the time of such transfer, the Company shall pay to the Executive such amount in cash that, after payment of all applicable federal, state and local taxes thereon, computed at the maximum marginal rates, is equal to all such taxes, so computed, imposed in connection with such transfer.
Appears in 5 contracts
Samples: Employment Agreement (Nabisco Group Holdings Corp), Employment Agreement (Nabisco Inc), Employment Agreement (Nabisco Group Holdings Corp)
