SEC Filings
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| 10-K/A | |||||
| HRG GROUP, INC. filed this Form 10-K/A on 01/27/2017 | |||||
| Entire Document | |||||
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Executive shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or for the account of Executive in connection with this Agreement (including any taxes and penalties under Section 409A), and neither the Company nor any Affiliate shall have any obligation to indemnify or otherwise hold Executive (or any beneficiary) harmless from any or all of such taxes or penalties. (b)Notwithstanding anything in this Agreement or elsewhere to the contrary, in the event that Executive is deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(i), no payments that are “deferred compensation” subject to Section 409A shall be made by HRG to Executive prior to the date that is six (6) months after the date of Executive’s “separation from service” (as defined in Section 409A) or, if earlier, Executive’s date of death. Following any applicable six (6) month (or shorter) delay, all such delayed payments will be paid in a single lump sum on the earliest permissible payment date. For purposes of Section 409A, each of the payments that may be made under this Agreement or under any other Company Arrangement is designated as a separate payment. Executive shall have no duties for HRG following the Separation Date that are inconsistent with his having had a “separation from service” on or before the Separation Date. (c)For purposes of this Agreement and of any other Company Arrangement, with respect to payments of any amounts, or provision of any benefits, that are “deferred compensation” subject to Section 409A, references to “termination of employment” (and substantially similar phrases) shall be interpreted and applied in a manner that is consistent with the requirements of Section 409A relating to “separation from service”. (d)Executive acknowledges that the Company has advised Executive to consult with an attorney regarding this Agreement, and how Section 409A applies to the Separation Benefits.
Executive shall deliver his signature on this Agreement within twenty one (21) days following the date hereof to HRG Group, Inc., 450 Park Avenue, 29th Floor, New York, NY 10022, Attention: General Counsel. This Agreement will become final, binding and irrevocable upon expiration of the seven (7) day Revocation Period described in Section 6(c) without timely revocation by Executive (the “Release Effective Date”). Signature Page Follows 10 | |||||
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