Section 280G Treatment. (a) Anything in this Agreement to the contrary notwithstanding, if any payment, distribution, or other benefit provided by the Company to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (collectively, the “Payments”), (x) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (y) but for this Section 12.3 would be subject to the excise tax imposed by Section 4999 of the Code or any similar or successor provision thereto (the “Excise Tax”), then the Payments shall be either:
Appears in 4 contracts
Samples: Employment Agreement (Edgen Group Inc.), Employment Agreement (Edgen Group Inc.), Employment Agreement (Edgen Group Inc.)
