Common use of Base Amount Clause in Contracts

Base Amount. In the event that the benefits provided for in this agreement or otherwise payable to Employee (a) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), (b) would be subject to the excise tax imposed by Section 4999 of the Code, and (c) the aggregate value of such parachute payments, as determined in accordance with Section 280G of the Code and the proposed Treasury Regulations thereunder (or the final Treasury Regulations, if they have then been adopted) is less than the product obtained by multiplying 3.59 by Employee’s “base amount” within the meaning of Code Section 280G(b)(3), then such benefits shall be reduced to the extent necessary (but only to that extent) so that no portion of such benefits will be subject to excise tax under Section 4999 of the Code.

Appears in 6 contracts

Samples: Management Retention Agreement (3com Corp), Management Retention Agreement (3com Corp), Management Retention Agreement (3com Corp)

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Base Amount. In the event that the benefits provided for in this agreement or otherwise payable to Employee Executive (a) constitute "parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), (b) would be subject to the excise tax imposed by Section 4999 of the Code, and (c) the aggregate value of such parachute payments, as determined in accordance with Section 280G of the Code and the proposed Treasury Regulations thereunder (or the final Treasury Regulations, if they have then been adopted) is less than the product obtained by multiplying 3.59 by Employee’s “Executive's "base amount" within the meaning of Code Section 280G(b)(3), then such benefits shall be reduced to the extent necessary (but only to that extent) so that no portion of such benefits will be subject to excise tax under Section 4999 of the Code.

Appears in 3 contracts

Samples: Dobkin Employment Agreement (Linear Technology Corp /Ca/), Davies Employment Agreement (Linear Technology Corp /Ca/), Paul Coghlan Employment Agreement (Linear Technology Corp /Ca/)

Base Amount. In the event that the benefits provided for in this agreement Agreement or otherwise payable to the Employee (ai) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), (bii) would be subject to the excise tax imposed by Section 4999 of the Code, and (ciii) the aggregate value of such parachute payments, as determined in accordance with Section 280G of the Code and the proposed Treasury Regulations thereunder (or the final Treasury Regulations, if they have then been adopted) is less than the product obtained by multiplying 3.59 by the Employee’s “base amount” within the meaning of Code Section 280G(b)(3), then such benefits shall be reduced to the extent necessary (but only to that extent) so that no portion of such benefits will be subject to excise tax under Section 4999 of the Code.

Appears in 2 contracts

Samples: Management Retention Agreement (3com Corp), Management Retention Agreement (3com Corp)

Base Amount. In the event that the benefits provided for in this agreement Agreement or otherwise payable to the Employee (ai) constitute "parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), (bii) would be subject to the excise tax imposed by Section 4999 of the Code, and (ciii) the aggregate value of such parachute payments, as determined in accordance with Section 280G of the Code and the proposed Treasury Regulations thereunder (or the final Treasury Regulations, if they have then been adopted) is less than the product obtained by multiplying 3.59 by the Employee’s “'s "base amount" within the meaning of Code Section 280G(b)(3), then such benefits shall be reduced to the extent necessary (but only to that extent) so that no portion of such benefits will be subject to excise tax under Section 4999 of the Code.

Appears in 1 contract

Samples: Management Retention Agreement (3com Corp)

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Base Amount. In the event that the benefits provided for in this agreement Agreement or otherwise payable to the Employee (ai) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), (bii) would be subject to the excise tax imposed by Section 4999 of the Code, and (ciii) the aggregate value of such parachute payments, as determined in accordance with Section 280G of the Code and the proposed Treasury Regulations thereunder (or the final Treasury Regulations, if they have then been adopted) is less than the product obtained by multiplying 3.59 by the Employee’s “base amount” within the meaning of Code Section 280G(b)(3), then such benefits shall be reduced to the extent necessary (but only to that extent) so that no portion of such benefits will be subject to excise tax under Section 4999 of the Code.that

Appears in 1 contract

Samples: Management Retention Agreement (3com Corp)

Base Amount. In the event that the benefits provided for in this agreement or otherwise payable to Employee Executive (a) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), (b) would be subject to the excise tax imposed by Section 4999 of the Code, and (c) the aggregate value of such parachute payments, as determined in accordance with Section 280G of the Code and the proposed Treasury Regulations thereunder (or the final Treasury Regulations, if they have then been adopted) is less than the product obtained by multiplying 3.59 by EmployeeExecutive’s “base amount” within the meaning of Code Section 280G(b)(3), then such benefits shall be reduced to the extent necessary (but only to that extent) so that no portion of such benefits will be subject to excise tax under Section 4999 of the Code.

Appears in 1 contract

Samples: Dobkin Employment Agreement (Linear Technology Corp /Ca/)

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