Common use of 280G Clause in Contracts

280G. Executive understands and acknowledges that certain benefits provided for under this Agreement may constitute "parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, (the "Code"). Such parachute payments may be subject to the excise tax imposed by Section 4999 of the Code. Executive acknowledges and agrees that he has and will review any tax consequences which may arise as the result of any such parachute payments with his own tax advisors and that he is relying and will rely solely on such advisors and not on any representations of the Company or any of its agent with regard to the possible tax implications of receiving such parachute payments. Executive further acknowledges and agrees that he is responsible for his own tax liability which may arise as the result of any such payments.

280G. Executive understands and acknowledges that certain benefits provided for under this Agreement may constitute "parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, (the "Code"). Such parachute payments may be subject to the excise tax imposed by Section 4999 of the Code. Executive acknowledges and agrees that he has and will review any tax consequences which may arise as the result of any such parachute payments with his own tax advisors and that he is relying and will rely solely on such advisors and not on any representations of the Company or any of its agent with regard to the possible tax implications of receiving such parachute payments. Executive further acknowledges and agrees that he is responsible for his own tax liability which may arise as the result of any such payments.its

280G. Executive understands and acknowledges that certain benefits provided for under this Agreement may constitute "parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, amended (the "Code"). Such parachute payments may be subject to the excise tax imposed by Section 4999 of the Code. Executive acknowledges and agrees that he has and will review any tax consequences which may arise as the result of any such parachute payments with his own tax advisors and that he is relying and will rely solely on such advisors and not on any representations of the Company or any of its agent employees or agents with regard to the possible tax implications of receiving such parachute payments. Executive further acknowledges and agrees that he is responsible for his own tax liability which that may arise as the result of any such payments.