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1. The payment and benefits provided pursuant to
the ATP constitute consideration for this release, in
that they are payments and benefits to which you would
not have been entitled had you not signed this release.
* * * * * * *
3. This release does not waive any claims that
you may have which arise after the date you sign this
release.
Mr. Sodoma signed the release on September 28, 1993.
In addition to the release, the parties have stipulated that
Mr. Sodoma did not have any preexisting claim of age
discrimination, or other unlawful discrimination, against IBM,
either formal or informal, written or oral, pending or inchoate,
at the time the release was signed.
Pursuant to the retirement program, and as consideration
for the release, Mr. Sodoma received $69,636 from IBM, calculated
on the basis of time of service and rate of pay. IBM reported
that amount on Mr. Sodoma's W-2 wage statement.
Except as otherwise provided, gross income includes income
from all sources. Sec. 61(a); Commissioner v. Glenshaw Glass
Co., 348 U.S. 426 (1955). While section 61(a) is to be broadly
construed, statutory exclusions from income must be narrowly
construed. Commissioner v. Schleier, 515 U.S. , 115 S. Ct.
2159, 2163 (1995); Kovacs v. Commissioner, 100 T.C. 124, 128
(1993), affd. without published opinion 25 F.3d 1048 (6th Cir.
1994).
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Last modified: May 25, 2011