Common use of Limitation on Acceleration Clause in Contracts

Limitation on Acceleration. Notwithstanding any provision to the contrary in the Plan or this Agreement, if the Payment (as hereinafter defined) due to the Non-Employee Director hereunder as a result of the acceleration of vesting of the RSUs pursuant to paragraph 6 of this Agreement, either alone or together with all other Payments received or to be received by the Non-Employee Director from the Company or any of its Affiliates (collectively, the “Aggregate Payments”), or any portion thereof, would be subject to the excise tax imposed by Section 4999 of the Code (or any successor thereto), the following provisions shall apply:

Appears in 4 contracts

Samples: Restricted Stock Units Agreement (Time Warner Inc.), Restricted Stock Units Agreement (Time Warner Inc.), Restricted Stock Units Agreement (Time Warner Inc.)

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Limitation on Acceleration. Notwithstanding any provision to the contrary in the Plan or this Agreement, if the Payment (as hereinafter defined) due to the Non-Employee Director hereunder as a result of the acceleration of vesting of the RSUs pursuant to paragraph 6 Section 5 of this Agreement, either alone or together with all other Payments received or to be received by the Non-Employee Director from the Company or any of its Affiliates (collectively, the “Aggregate Payments”), or any portion thereof, would be subject to the excise tax imposed by Section 4999 of the Code (or any successor thereto), the following provisions shall apply:

Appears in 2 contracts

Samples: Restricted Stock Units Agreement (Time Inc.), Restricted Stock Units Agreement (Time Inc.)

Limitation on Acceleration. Notwithstanding any provision to the contrary in the Plan or this Agreement, if the Payment (as hereinafter defined) due to the Non-Employee Director Participant hereunder as a result of the acceleration of vesting issuance or transfer of the Shares subject to the RSUs pursuant to paragraph 6 of this Agreement, either alone or together with all other Payments received or to be received by the Non-Employee Director Participant from the Company or any of its Affiliates (collectively, the “Aggregate Payments”), or any portion thereof, would be subject to the excise tax imposed by Section 4999 of the Code (or any successor thereto), the following provisions shall apply:

Appears in 2 contracts

Samples: Time Warner Cable Inc., Time Warner Cable Inc.

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Limitation on Acceleration. Notwithstanding any provision to the contrary in the Plan or this Agreement, if the Payment (as hereinafter defineddefined in §7(c) below) due to the Non-Employee Director Participant hereunder as a result of the acceleration of vesting issuance or transfer of the Shares subject to the RSUs pursuant to paragraph 6 of this Agreement, either alone or together with all other Payments received or to be received by the Non-Employee Director Participant from the Company or any of its Affiliates (collectively, the “Aggregate Payments”), or any portion thereof, would be subject to the excise tax imposed by Section 4999 of the Code (or any successor thereto), the following provisions shall apply:

Appears in 1 contract

Samples: Time Warner Cable Inc.

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