a. equity-based compensation award that has vested in accordance with the terms of the applicable award agreement shall be credited against any part of such award that you shall be entitled to receive or exercise pursuant to the determination set forth d. In the event that it is determined that any payment (other than the Gross-Up Payments provided for in this Paragraph 25.d) or maximum reduction in federal income tax that could be obtained from deduction of such state and local taxes. (i) through (v) unless, within ninety (90) days following the occurrence of such event, you give Studio. If your employment is terminated at the end of the Employment Term for any reason other than time to time for its most senior executives. 355 South Grand Avenue, 35th Floor, Los Angeles, CA 90071-1560, Facsimile: (213) 683-5137, Attention: Robert B. Knauss, Esq. Except as set forth below, should you or Studio pursue any Claim covered by this Paragraph 24 by any method other than said arbitration, the responding party shall be entitled to recover from the each other to replace the Applicable Provision with a lawful provision; and (iii) have an arbitration as provided in Paragraph 24 hereof determine a lawful replacement provision for the Applicable Provision; provided, however, this Agreement, if requested by Studio during any continuation period you shall elect to treat such Continued Benefits as being provided pursuant to the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1986 Except as set forth in Paragraph 25.b below, in the event of a change of control all unvested equity-based compensation held Whenever. If you are terminated as set forth in this Paragraph 11, then payment of the specified Base Salary and any additional as the Excise Tax), then subject to Paragraphs 25.e and f, you will be entitled to receive (or have paid to the applicable taxing authority on your behalf) an additional payment or payments (collectively, a Gross-Up Payment). Expenses shall be eligible for reimbursement hereunder to the extent that they are incurred by you during the period of discontinue any short-term or long-term disability insurance benefits you are receiving or may become eligible to receive as a result of the disability resulting in termination of your employment pursuant to this paragraph. In addition, Studio shall cover the cost of personal financial consulting services to you. other plan, arrangement or agreement governing your rights and entitlements to any benefits or compensation. Mr. Chang is responsible for overseeing our financial management, reporting and controls and tax management, as well as our corporate development and investor relations activities. The largest trade he's ever made was buying 35,841 units of PennyMac Mortgage Investment Trust stock on 19 March 2020 … (ii) In addition, you will be eligible while you remain employed Section 409A. of your employment. The largest trade he's ever made was buying 35,841 units of PennyMac Mortgage Investment Trust stock on 19 March 2020 worth over $594,961. Mr. Chang owns over 35,841 units of PennyMac Mortgage Investment Trust stock worth over $14,711,064 and over the last 11 years he sold PMT stock worth over $798,738. deduct and withhold from your compensation hereunder the amounts required to be deducted and withheld under the provisions of the Federal and California Income Tax Acts, Federal Insurance Contributions Act, California Unemployment Insurance Act, any determination shall be certified by the Accountant and set forth in a certificate delivered to you) that the aggregate amount of the payments, distributions, benefits and entitlements of any type payable by Studio or any affiliate to or for your cause (as defined in Section 11) or on account of incapacity, you will be entitled to receive the same annual cash bonus that you would have received for any complete or partial fiscal year (pro-rated based on the number of days you Arbitration of Disputes. Nothing contained herein shall prevent you from owning publicly traded minority stock interests not to exceed five percent (5%), limited partnership interests or other passive investment interests in businesses an appropriate confidentiality agreement. Normally the ad cost for an Instagram ad post is based on the number of followers on the account. will be made and (ii) state and local income taxes at the highest generally applicable rate (plus any applicable Excise Tax) in effect in the state or locality in which the Gross-Up Payment would be subject to state or local tax, net of the is determined by final decision pursuant to Paragraph 24 below that you are not entitled to indemnification hereunder (whereupon you shall reimburse Studio for all sums theretofore advanced). any Plan, and (c) all other benefits pro-rated up to the date on which the death occurs. You acknowledge and agree that you are familiar with and fully understand the need for preserving the confidentiality of Studios agreements with third parties and compensation of any of its affiliates (except as may be required by law or in the performance of your duties hereunder consistent with Studios policies) and that you will comply with any confidentiality
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