Golden Parachute Payments definition
Examples of Golden Parachute Payments in a sentence
Employer shall be deemed able to reasonably deduct such Excess Amount; and all amounts accruing hereunder, including the Excess Amount, shall be paid Employee in the event Employee delivers to Employer an opinion of an attorney that is reasonably acceptable to Employer stating such Excess Amount is reasonably deductible by Employer by operation of Section 280G (or such other provisions as may from time to time be enacted governing the deductibility of so-called "Golden Parachute Payments") of the Code.
Notwithstanding anything herein to the contrary, Employer shall not be obligated to pay any portion of any amount otherwise payable to Employee hereunder if Employer is not reasonably able to deduct such portion (the "Excess Amount") solely by operation of Section 280G (or such other provision(s) as may from time to time be enacted governing the deductibility of so- called "Golden Parachute Payments") of the Internal Revenue Code of 1986, as amended (the "Code").
The parties intend that the Gross-Up Amount be in an amount such that after payment by the Employee of all taxes (including income taxes, excise taxes under Code Section 4999 interest and penalties), imposed upon the Gross-Up Amount, the Employee will retain a portion of the Gross-Up Amount equal to the Code Section 4999 excise tax imposed on the Golden Parachute Payments.
Notwithstanding anything herein to the contrary, the Company shall not be obligated to pay any portion of any amount otherwise payable to Employee hereunder if the Company is not reasonably able to deduct such portion (the "Excess Amount") solely by operation of Section 28OG (or such other provision(s) as may from time to time be enacted governing the deductibility of so-called "Golden Parachute Payments") of the Internal Revenue Code of 1986, as amended (the "Code").
You will not be entitled to receive from the Corporation any Golden Parachute Payments (as defined below) during any period in which the Treasury holds an equity or debt position acquired from the Corporation under the Program (the “Covered Period”).
The payment by the Company of Golden Parachute Payments, if any, shall be subordinate to any and all payments to the holders of the Preferred Shares.
The provisions of Sections 7 (Interpretation, Governing Law and Exclusive Forum), 10 (Severability), 11 (Successors and Assigns), 12 (Notices), 14 (Dispute Resolution), 15 (Representations), 16 (Amendments and Waivers), 17 (Golden Parachute Payments), 19 (Withholding Taxes) and 20 (Counterparts) of the Agreement shall be incorporated into this Amendment, mutatis mutandis, as if references to “this Agreement” in the Agreement were references to “this Amendment” in this Amendment.
All Seller Benefit Plans have been, and will be, managed and administered in compliance with the Golden Parachute Payments Regulations and related guidance.
As used herein, "Golden Parachute Payments" means any payment as that term is defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "IRC") or any similar provisions.
The provisions of Sections 7 (Interpretation, Governing Law and Exclusive Forum), 9 (Severability), 10 (Successors and Assigns), 11 (Notices), 13 (Dispute Resolution), 14 (Representations), 15 (Amendments and Waivers), 16 (Golden Parachute Payments), 18 (Withholding Taxes) and 19 (Counterparts) of the Agreement shall be incorporated into this Amendment, mutatis mutandis, as if references to “this Agreement” in the Agreement were references to “this Amendment” in this Amendment.