Example ContractsClausesexcess parachute paymentVariants
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if, as a result of receiving such Parachute Payment, the aggregate after-tax amounts received by the Grantee from the Company under the Plan, all Other Agreements and all Benefit Arrangements would be less than the maximum after-tax amount that could be received by the Grantee without causing any such payment or benefit to be considered a Parachute Payment.

if, as a result of receiving such Parachute Payment,a parachute payment and paying any applicable tax (including Excise Tax) thereon, the aggregate after-tax amounts received by the GranteeParticipant from the Company under the Plan, all Other Agreementsthis Agreement and all Benefit ArrangementsPayments would be less than the maximum after-tax amount that could be received by the GranteeParticipant without causing any such payment or benefitPayment to be considered a Parachute Payment.parachute payment.

if, as a result of receiving such Parachute Payment,a parachute payment and paying any applicable tax (including Excise Tax thereon), the aggregate after-tax amounts received by the GranteeParticipant from the Company under the Plan, all Other Agreementsthis Agreement and all Benefit ArrangementsPayments would be less than the maximum after-tax amount that could be received by the GranteeParticipant without causing any such payment or benefitPayment to be considered a Parachute Payment. parachute payment.

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