Internal Revenue Code Section 280G. To the extent that due to the application of Internal Revenue Code Section 280G, reducing the benefits payable to Executive hereunder would increase the overall after tax proceeds to Executive, such benefits shall be reduced in a manner designed to produce the maximum after tax proceeds for Executive (including, if applicable, reducing Executive’s cash payments prior to canceling equity or option acceleration benefits).
Appears in 5 contracts
Samples: Executive Employment Agreement (Telx Group, Inc.), Executive Employment Agreement (Telx Group, Inc.), Executive Employment Agreement (Telx Group, Inc.)
