EYE » Topics » Excise Tax Gross-Up.

This excerpt taken from the EYE DEF 14A filed Apr 20, 2006.
Excise Tax Gross-Up.   In the event that any payment or benefits an executive receives pursuant to the employment agreements is deemed to constitute an “excess parachute payment” under Section 280G of the Internal Revenue Code, he or she is entitled to an excise tax gross-up payment to the full extent of his or her corresponding excise tax liability.

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