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released hereby but survive unaffected by this
document.
* * * * * * *
3. This release does not waive any claims that
you may have which arise after the date you sign this
release.
* * * * * * *
5. In the event of rehire by IBM or any of its
subsidiaries as a regular employee, you understand that
IBM reserves the right to require repayment of a
prorated portion of the SDTP. The amount of repayment
will be calculated as one week of pay at the rate used
to calculate the SDTP, multiplied by the difference
between the number of weeks used to calculate the SDTP
and the number of weeks away from IBM, less associated
payroll taxes withheld by IBM.
Mr. Carey was 55 years of age in June 1993. For many years,
Mr. Carey had, and in 1993 continued to have, a hearing
impairment for which he wore a hearing aid and was, and in 1993
continued to be, subject to seizures which he controlled through
medication. IBM was aware of Mr. Carey's health conditions for
more than 20 years prior to his termination. At the time of
signing the release, Mr. Carey had not filed any claims against
IBM in respect of those conditions or otherwise.
Petitioners filed their 1993 Federal income tax return and
did not include the lump-sum payment in their taxable income.
They attached Form 8275 (Disclosure Statement) to their return,
describing the lump-sum payment and claiming it was excludable
pursuant to section 104(a)(2). Petitioners also attached a copy
of the release to their return.
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