Potential Parachute Payment definition
Potential Parachute Payment see Section 3.1.
Potential Parachute Payment means the portion of any Person’s payments and/or benefits in connection with the consummation of the Merger that is in excess of 2.99 times such Person’s “Base Amount” (within the meaning of Section 280G(b)(3) of the Code).
Potential Parachute Payment shall have the meaning set forth in Section 5.17(a).
More Definitions of Potential Parachute Payment
Potential Parachute Payment means the aggregate amount of compensation payable or deemed payable to each Disqualified Individual, under any Compensation Plans in cash, stock or other form, including without limitation any amounts payable upon the termination of the Disqualified Individual's employment or any amount deemed paid for federal income tax purposes as a result of the removal of any vesting requirements or other transfer restrictions imposed on shares of Company stock already issued to such person, which could be treated as a parachute payment within the meaning of Treasury Reg. Section 1.280G-1, Q&A-2.