Excess Severance Payment definition
Examples of Excess Severance Payment in a sentence
In no event shall the total payments be reduced by more than 10% in order to avoid treatment as an Excess Severance Payment.
The term "Excess Severance Payment" shall have the same meaning as the term "excess parachute payment" defined in Section 280G(b)(1) of the Code.
In no event shall the total payments be reduced by more than ten percent (10%) in order to avoid treatment as an Excess Severance Payment.
The term "Excess Severance Payment" shall have the same meaning as the term "excess parachute payment" defined in Section 280G(b)(l) of the Code.
The member of the Altria Group from which the Kraft Transferee transferred shall be solely responsible for the payment of the Altria Excess Severance Payment.
In order to receive the payment of his or her Altria Excess Severance Payment the Kraft Transferee must execute a general release agreement provided by Altria.
Excess Severance Payment" shall have the same meaning as the term "excess parachute payment" defined in Section 280G(b)(1) of the Code.
Kraft will calculate and notify Altria in writing of the amount of the Kraft Severance Payment and Altria will calculate and notify Kraft in writing of the amount of the Altria Excess Severance Payment as soon as practicable following such Kraft Transferee’s involuntary termination.
Under the Limited Benefit Method, the Executive’s Total Benefit shall be determined as defined in this Section IV and then modified or reduced to the extent necessary so that the benefits payable or to be provided to the Executive under this Agreement that are treated as Severance Payments, as well as any payments or benefits provided outside of this Agreement that are so treated, shall not cause the Company to have paid an Excess Severance Payment.
The term "Excess Severance Payment" shall have the same meaning as the term "excess parachute payment" defined in Section 280G(b) (1) of the Code.