Document ID: 10330

Text:
Company or any of its Affiliates or pursuant to any incentive arrangement or plan offered by the Company or any of its Affiliates) shall be reduced (but not below zero) to the maximum amount which may be paid hereunder without Executive becoming subject to the Excise Tax (such reduced payments to be referred to as the payment Cap). In the event Executive receives reduced payments and benefits as a result of application of this Section 8, Executive shall have the right to designate which of the payments and benefits otherwise set forth herein (or any other agreement between the Company and Executive or any incentive arrangement or plan offered by the Company) shall be received in connection with the application of the payment Cap, subject to the following sentence. Reduction shall be made in the following order: (i) at the discretion of Executive, payments that are valued in full under Treasury Regulation Section 1.280G-1 , Q&amp;A 24 and are not subject to Section 409A of the Code, (ii) payments that are valued in full under Treasury Regulation Section 1.280G-1 , Q&amp;A 24 and are subject to Section 409A of the Code, with the amounts that are payable last reduced first, (iii) at the discretion of Executive, payments that are valued at less than full value under Treasury Regulation Section 1.280G-1 , Q&amp;A 24 and are not subject to Section 409A of the Code and (iv) payments that are valued at less than full value under Treasury Regulation Section 1.280G-1 , Q&amp;A 24 and are subject to Section 409A of the Code, with the amounts that are payable last reduced first. If the Accounting Firm determines that aggregate Covered payments should be reduced as described above, it shall promptly notify Executive and the Company to that effect. In the absence of manifest error, all determinations made by the Accounting Firm under this Section 8(a) shall be binding on Executive and the Company and shall be made as soon as reasonably practicable and in no event later than fifteen (15) days following the later of Executives date of termination of employment or the date of the transaction which causes the application of Section 280G of the Code. The Company shall bear all costs, fees and expenses of the Accounting Firm. To the extent requested by Executive, the Company shall cooperate with Executive in good faith in valuing, and the Accounting Firm shall take into account the value of, services to be provided by Executive (including Executive agreeing to refrain from performing services pursuant to a covenant not to compete) before, on or after the date of the transaction which causes the application of Section 280G of the Code such that payments in respect of such services may be considered to be reasonable compensation within the meaning of Q&amp;A-9 and Q&amp;A-40 to Q&amp;A-44 of the final regulations under Section 280G of the Code and/or exempt from the definition of the term parachute payment within the meaning of Q&amp;A-2(a) of such final regulations in accordance with Q&amp;A-5(an) of such final regulations. If it is ultimately determined (by IRS private letter ruling or closing agreement, court decision or otherwise) that Executives Covered payments were reduced by too much or by too little in order to accomplish the purpose of this Section 8(a), Executive and the Company shall promptly cooperate to correct such underpayment or overpayment in a manner consistent with the purpose of this Section 8(a).

Named Entities:
80
81
Regulation
165
170
Regulation
172
177
Regulation
183
184
Regulation
419
420
Regulation

Tokenized Text:
Company
or
any
of
its
Affiliates
or
pursuant
to
any
incentive
arrangement
or
plan
offered
by
the
Company
or
any
of
its
Affiliates
)
shall
be
reduced
(
but
not
below
zero
)
to
the
maximum
amount
which
may
be
paid
hereunder
without
Executive
becoming
subject
to
the
Excise
Tax
(
such
reduced
payments
to
be
referred
to
as
the
payment
Cap
)
.
In
the
event
Executive
receives
reduced
payments
and
benefits
as
a
result
of
application
of
this
Section
8
,
Executive
shall
have
the
right
to
designate
which
of
the
payments
and
benefits
otherwise
set
forth
herein
(
or
any
other
agreement
between
the
Company
and
Executive
or
any
incentive
arrangement
or
plan
offered
by
the
Company
)
shall
be
received
in
connection
with
the
application
of
the
payment
Cap
,
subject
to
the
following
sentence
.
Reduction
shall
be
made
in
the
following
order
:
(
i
)
at
the
discretion
of
Executive
,
payments
that
are
valued
in
full
under
Treasury
Regulation
Section
1
.
280G-1
,
Q
&
amp
;
A
24
and
are
not
subject
to
Section
409A
of
the
Code
,
(
ii
)
payments
that
are
valued
in
full
under
Treasury
Regulation
Section
1
.
280G-1
,
Q
&
amp
;
A
24
and
are
subject
to
Section
409A
of
the
Code
,
with
the
amounts
that
are
payable
last
reduced
first
,
(
iii
)
at
the
discretion
of
Executive
,
payments
that
are
valued
at
less
than
full
value
under
Treasury
Regulation
Section
1
.
280G-1
,
Q
&
amp
;
A
24
and
are
not
subject
to
Section
409A
of
the
Code
and
(
iv
)
payments
that
are
valued
at
less
than
full
value
under
Treasury
Regulation
Section
1
.
280G-1
,
Q
&
amp
;
A
24
and
are
subject
to
Section
409A
of
the
Code
,
with
the
amounts
that
are
payable
last
reduced
first
.
If
the
Accounting
Firm
determines
that
aggregate
Covered
payments
should
be
reduced
as
described
above
,
it
shall
promptly
notify
Executive
and
the
Company
to
that
effect
.
In
the
absence
of
manifest
error
,
all
determinations
made
by
the
Accounting
Firm
under
this
Section
8
(
a
)
shall
be
binding
on
Executive
and
the
Company
and
shall
be
made
as
soon
as
reasonably
practicable
and
in
no
event
later
than
fifteen
(
15
)
days
following
the
later
of
Executives
date
of
termination
of
employment
or
the
date
of
the
transaction
which
causes
the
application
of
Section
280G
of
the
Code
.
The
Company
shall
bear
all
costs
,
fees
and
expenses
of
the
Accounting
Firm
.
To
the
extent
requested
by
Executive
,
the
Company
shall
cooperate
with
Executive
in
good
faith
in
valuing
,
and
the
Accounting
Firm
shall
take
into
account
the
value
of
,
services
to
be
provided
by
Executive
(
including
Executive
agreeing
to
refrain
from
performing
services
pursuant
to
a
covenant
not
to
compete
)
before
,
on
or
after
the
date
of
the
transaction
which
causes
the
application
of
Section
280G
of
the
Code
such
that
payments
in
respect
of
such
services
may
be
considered
to
be
reasonable
compensation
within
the
meaning
of
Q
&
amp
;
A-9
and
Q
&
amp
;
A-40
to
Q
&
amp
;
A-44
of
the
final
regulations
under
Section
280G
of
the
Code
and
/
or
exempt
from
the
definition
of
the
term
parachute
payment
within
the
meaning
of
Q
&
amp
;
A-2
(
a
)
of
such
final
regulations
in
accordance
with
Q
&
amp
;
A-5
(
an
)
of
such
final
regulations
.
If
it
is
ultimately
determined
(
by
IRS
private
letter
ruling
or
closing
agreement
,
court
decision
or
otherwise
)
that
Executives
Covered
payments
were
reduced
by
too
much
or
by
too
little
in
order
to
accomplish
the
purpose
of
this
Section
8
(
a
)
,
Executive
and
the
Company
shall
promptly
cooperate
to
correct
such
underpayment
or
overpayment
in
a
manner
consistent
with
the
purpose
of
this
Section
8
(
a
)
.