Limitation on Payment Obligation. The foregoing notwithstanding, in no event shall the Company be obligated to make payments to Executive following a termination of his employment to the extent such payment would constitute an “excess parachute payment” within the meaning of Section 280G of the Code.
Appears in 1 contract
Sources: Employment Agreement (Inland Retail Real Estate Trust Inc)
Limitation on Payment Obligation. The foregoing notwithstanding, in no event shall the Company be obligated to make payments to Executive following a termination of his employment to the extent such payment which would constitute an “excess parachute payment” within the meaning of Section 280G of the Code.
Appears in 1 contract
Sources: Senior Management Retention and Severance Agreement (Inland Retail Real Estate Trust Inc)