Page:Emergency Economic Stabilization Act of 2008.djvu/106

 O:kiYOkiYO08C04.xml 1 2 3 106 the case of any acquisition, merger, or reorga- nization of an applicable employer.". (b) GOLDEN PXACHUTE RuLE.--Section 280G of 4 the Internal Revenue Code of 1986 is amended 5 6 7 8 9 (1) by redesignating subsection (e) as sub- section (f), and (2) by inserting after subsection (d) the fol- lowing new subsection: "(e) SPECIAL RULE FOR APPLICATION TO EMPLOY- 10 ERS PARTICIPATING IN THE TROUBLED ASSETS RELIEF 1 1 PROGRAM.-- 12 13 14 15 16 17 18 19 20 21 22 23 24 25 "(1) IN GENERAL.--In the case of the sever- ance from employment of a covered executive of an applicable employer during the period during which the authorities under section 101(a) of the Emer- gency Economic Stabilization Act of 2008 are in ef- fect (determined under section 120 of such Act), this section shall be applied to payments to such execu- tive with the following modifications: "(A) Any reference to a disqualified indi- vidual (other than in subsection (e)) shall be treated as a reference to a covered executive. "(B) Any reference to a change described in subsection (b)(2)(A)(i) shall be treated as a reference to an applicable severance from em-

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