Saturday, January 19, 2019 7:20:53 AM
Effective Date, Manderson or his designee shall be entitled to receive annual Cash bonus payments equal to 5% of the amount of the gross Tax Savings of the
Reorganized Debtor (or its successor) attributable to the Reorganized Debtor’s use, if
any, of NOLs or similar Tax attributes following the Effective Date, including, without
limitation, all NOLs or similar Tax attributes arising from future tax losses, for as long
as Manderson remains a director or officer of the Reorganized Debtor or its successors;
provided however, that the calculation of gross Tax Savings shall exclude any Tax
Savings attributable to utilization of the NOLs or similar tax attributes in connection
with taxable income or discharge of indebtedness of TGIC or TGAC. For the avoidance
of doubt, Tax Savings shall be calculated based upon the utilization of the NOLs and
similar Tax attributes by the Reorganized Debtor (or its successor) in any given year,
excluding any utilization of the NOLs or similar Tax attributes attributable to the
taxable income or discharge of indebtedness of TGIC and TGAC.
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