Limitation on Change of Control Payments and Benefits. In the event that any payment or benefit that Executive would receive from the Company or otherwise in connection with a Change of Control or other similar transaction (a “280G Payment”) (i) would constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) but for this Section 6.1, would be subject to the excise tax imposed by Section 4999 of the Code, then any such 280G Payment shall be payable either:
Appears in 8 contracts
Samples: Executive Employment Agreement (Seattle Genetics Inc /Wa), Executive Employment Agreement (Seattle Genetics Inc /Wa), Executive Employment Agreement (Seattle Genetics Inc /Wa)
