- 8 - testimony on the point and the stipulation of the parties indicate otherwise. Furthermore, the only evidence in the record that remotely suggests that the lump-sum payment was made to compensate petitioner for personal injuries or sickness is the language used in the release/waivers that petitioner was required to sign pursuant to the retirement program. Contrary to petitioner’s presumption, however, the requirement that petitioner waive any such rights against AT&T does not in and of itself establish the existence of such rights. Nor does that requirement establish that the lump-sum payment was made in settlement of a claim that petitioner might have had against AT&T for the violation of any such rights. We are satisfied that the lump-sum payment does not qualify for exclusion under section 104(a)(2). Our conclusion in this regard is supported on several grounds. First, from all indications in the record, the release/waivers that petitioner was required to sign were used by AT&T in the case of any manager/employee who was eligible and elected to terminate employment under the retirement program. Secondly, the amount of the lump-sum payment was not determined with respect to any tortious conduct on AT&T’s part; instead the lump-sum payment was determined with reference to petitioner’s years of employment with AT&T and his age. Lastly, considering that the lump-sum payment was made as part of the retirement program, it is more inPage: Previous 1 2 3 4 5 6 7 8 9 Next
Last modified: May 25, 2011