Document ID: 11476

Text:
| 21.| POSSIBLE REDUCTION IN PAYMENT AND BENEFITS: No amounts will be payable and no benefits will be provided under this Agreement to the extent that such payments or benefits, together with other payments or benefits under other plans, agreements or arrangements, would make the Executive liable for the payment of an excise tax under Code Section 4999 or any successor provision. The amounts otherwise payable and the benefits otherwise to be provided under this Agreement shall be reduced in a manner determined by the Corporation (by the minimum possible amount) that is consistent with the requirements of Code Section 409A until no amount payable to the Executive will be subject to such excise tax. All calculations and determinations under this Section 21 shall be made by an independent accounting firm or independent tax counsel appointed by the Corporation (the Tax Advisor) whose determinations shall be conclusive and binding on the Corporation and the Executive for all purposes. The Tax Advisor may rely on reasonable, good faith assumptions and approximations concerning the application of Code Section 280G and Code Section 4999\. The Corporation shall bear all costs of the Tax Advisor. In the event that the payment to the Executive under Sections 8(a)(i) or 10(a)(i) is reduced in accordance with this paragraph, the length of the the noncompete and nonsolicitation periods described in Sections 11(a), 11(b) and 11(c) shall be reduced proportionally. For example and for illustrative purposes, if the payment is reduced by 50% , the noncompete and nonsolicition periods shall be reduced by 50% . ---|---|---

Named Entities:
61
63
Regulation
107
109
Regulation
188
190
Regulation
253
262
Regulation
264
267
Regulation
286
287
Percentage
298
299
Percentage

Tokenized Text:
|
21
.
|
POSSIBLE
REDUCTION
IN
PAYMENT
AND
BENEFITS
:
No
amounts
will
be
payable
and
no
benefits
will
be
provided
under
this
Agreement
to
the
extent
that
such
payments
or
benefits
,
together
with
other
payments
or
benefits
under
other
plans
,
agreements
or
arrangements
,
would
make
the
Executive
liable
for
the
payment
of
an
excise
tax
under
Code
Section
4999
or
any
successor
provision
.
The
amounts
otherwise
payable
and
the
benefits
otherwise
to
be
provided
under
this
Agreement
shall
be
reduced
in
a
manner
determined
by
the
Corporation
(
by
the
minimum
possible
amount
)
that
is
consistent
with
the
requirements
of
Code
Section
409A
until
no
amount
payable
to
the
Executive
will
be
subject
to
such
excise
tax
.
All
calculations
and
determinations
under
this
Section
21
shall
be
made
by
an
independent
accounting
firm
or
independent
tax
counsel
appointed
by
the
Corporation
(
the
Tax
Advisor
)
whose
determinations
shall
be
conclusive
and
binding
on
the
Corporation
and
the
Executive
for
all
purposes
.
The
Tax
Advisor
may
rely
on
reasonable
,
good
faith
assumptions
and
approximations
concerning
the
application
of
Code
Section
280G
and
Code
Section
4999
\
.
The
Corporation
shall
bear
all
costs
of
the
Tax
Advisor
.
In
the
event
that
the
payment
to
the
Executive
under
Sections
8
(
a
)
(
i
)
or
10
(
a
)
(
i
)
is
reduced
in
accordance
with
this
paragraph
,
the
length
of
the
the
noncompete
and
nonsolicitation
periods
described
in
Sections
11
(
a
)
,
11
(
b
)
and
11
(
c
)
shall
be
reduced
proportionally
.
For
example
and
for
illustrative
purposes
,
if
the
payment
is
reduced
by
50
%
,
the
noncompete
and
nonsolicition
periods
shall
be
reduced
by
50
%
.
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