applicable severance from employment
Defined in 1 place of the United States Code.
The term “applicable severance from employment” means any severance from employment of a covered executive—
(i) by reason of an involuntary termination of the executive by the employer, or
(ii) in connection with any bankruptcy, liquidation, or receivership of the employer.
Source
- 2008–present26 U.S.C. § 280GInternal Revenue Code · Golden parachute payments · for purposes of this section