Order of 280G Payment Reduction. Unless provided otherwise in Participant’s employment agreement with the Company, the reduction of RSUs vesting, if applicable, shall be effected in the following order, but only to the extent that each item listed provides for a reduction to minimize Section 280G consequences: (i) any cash parachute payments, (ii) any health and welfare and similar benefits valued as parachute payments, (iii) the acceleration of vesting of any stock options for which the exercise price exceeds the then fair market value of the underlying stock, (iv) the reduction of any acceleration of vesting of any equity award that is not a stock option (including the RSUs), and (v) the acceleration of vesting of any stock options for which the exercise price is less than the fair market value of the underlying stock.
Appears in 10 contracts
Samples: www.sec.gov, Restricted Stock Units Agreement (Time Warner Cable Inc.), Restricted Stock Units Agreement (Time Warner Cable Inc.)
