Net After Tax Receipt. “Net After Tax Receipt” means the Present Value of the total Parachute Payments or the Reduced Amount, as applicable, net of all taxes imposed on the Executive with respect thereto under Code sections 1 and 4999, determined by applying the highest marginal rate under Code section 1 which applied to the Executive’s taxable income for the immediately preceding taxable year.
Appears in 14 contracts
Samples: Change in Control Severance Agreement (Centerspace), Change in Control Severance Agreement (Centerspace), Severance Agreement (Tredegar Corp)
