Excess Parachute Payment definition

Excess Parachute Payment means a payment described in Section 280G(b)(1) of the Code.

Excess Parachute Payment means a payment that creates an obligation for Executive to pay excise taxes under Section 280G of the Code or any successor provision thereto.

Excess Parachute Payment means a payment that creates an obligation for a Participant to pay excise taxes under Code Section 280G or any successor provision thereto.

Examples of Excess Parachute Payment in a sentence

• For purposes of this Paragraph 2.(b), whether any amount would constitute an Excess Parachute Payment and any other calculations of tax, e.g., Excise Tax, HI Tax, Income Tax, etc., or other amounts, e.g., Base Amount, Capped Amount, etc., shall be determined by the tax department of the independent public accounting firm then responsible for preparing Southern's consolidated federal income tax return, and such calculations or determinations shall be binding upon the parties hereto.

• Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment".

• As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined.

• Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the “Initial Excess Parachute Payment.” As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined.

• Notwithstanding anything in this Plan to the contrary, if a Change in Control Severance Benefit to an employee who is a “Disqualified Individual” shall be in an amount which includes an “Excess Parachute Payment,” taking into account payments under this Plan and otherwise, the benefit payable under this Plan shall be reduced to the maximum amount which does not include an Excess Parachute Payment.

More Definitions of Excess Parachute Payment

Excess Parachute Payment has the meaning specified in Section 280G of the Code.

Excess Parachute Payment shall have the meaning set forth and shall be determined as provided in Section 280G of the Code.

Excess Parachute Payment has the meaning assigned to that term in Q/A-3 (note that although initial capital letters are used on this term in this Agreement, the Q/As do not use initial caps for this term).

Excess Parachute Payment shall have the meanings assigned to such terms in Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended.

Excess Parachute Payment has the same meaning provided to such term by Treasury Regulations section 1.280G-1 Q/A-3.

Excess Parachute Payment shall have the meaning set forth in Section 2.

Excess Parachute Payment means a payment that creates an obligation for Executive to pay excise taxes under Section 280G of the Code.