Permissible Parachute Amount definition

Permissible Parachute Amount means a dollar amount equal to 2.99 times the Executive’s Average Compensation.
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Permissible Parachute Amount means a dollar amount equal to the 2.99 times the average of your W-2 wages from Broadcom for the five (5) calendar years (or such fewer number of calendar years) completed immediately prior to the calendar year in which the Change in Control is effected.
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Permissible Parachute Amount means a dollar amount equal to the 2.99 times the average of your W-2 wages from Broadcom for the five (5) calendar years (or such fewer number of calendar years) completed immediately prior to the calendar year in which the Change in Control is effected. Should the aggregate Present Value (measured as of the Change in Control) of your aggregate Parachute Payment not exceed one hundred twenty percent (120%) of your Permissible Parachute Amount, then no Gross-Up Payment will be made to you, and your payments and benefits under this New Agreement shall instead be subject to reduction in accordance with the benefit limitation provisions of Section 6.
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Examples of Permissible Parachute Amount in a sentence

  • Should it be determined that the aggregate Present Value (measured as of the Closing Date) of the Parachute Payment attributable to the Payment(s) does not exceed one hundred ten percent (110%) of the Permissible Parachute Amount, then no Gross-Up Payment shall be made to Executive under Paragraph 1 of this Appendix.

  • Should it be determined that the aggregate Present Value (measured as of the Closing Date) of the Parachute Payment attributable to the Payment(s) does not exceed one hundred ten percent (110%) of the Permissible Parachute Amount, then no Parachute Gross-Up Payment shall be made to you under Paragraph 1 of this Appendix.

  • Notwithstanding anything in this Agreement to the contrary, the 2011 Discretionary Bonus and your Transaction Bonus shall be reduced to the extent necessary to assure that the aggregate amount you may receive pursuant to the Acquisition and this Agreement does not exceed the Permissible Parachute Amount (as defined in Appendix I).

  • Should it be determined that the Present Value (measured as of the Change in Control) of the Parachute Payment attributable to the Change in Control Payments, when added to the Present Value of any Other Parachute Payment to which the Executive may be entitled, does not exceed 110% of the Permissible Parachute Amount, then no Gross-Up Payment shall be made to Executive under Section 11 of the Agreement.

  • The amount of the Change in Control Severance Benefits otherwise due you under Part Two of the Agreement shall be reduced to the extent necessary to assure that the aggregate Present Value of the Parachute Payment attributable to your Change in Control Severance Benefits, the Equity Award Parachute Payment attributable to your Acquisition-Accelerated Equity Awards and any Other Parachute Payments to which you may be entitled does not exceed the Permissible Parachute Amount.

  • To the extent any Equity Awards are reduced and terminated in connection with the initial calculation made at the time of your termination of employment, those Equity Awards will not be subsequently restored in connection with the re-calculation of the Permissible Parachute Amount following the expiration of the Pre-Closing Period, even if those terminated Equity Awards could have otherwise fallen within the Permissible Parachute Amount as so re-calculated.