Common use of Adjustments Necessary to Comply with Maximum Payment Limit Clause in Contracts

Adjustments Necessary to Comply with Maximum Payment Limit. If, notwithstanding the initial application of Section 3.6(g), the Internal Revenue Service determines that any amount paid or benefit provided to Executive would constitute an Excess Parachute Payment, Section 3.6(g) will be reapplied based on the Internal Revenue Service’s determination and Executive will be required to repay to the Bank any Overpayment (as defined below) immediately upon receipt of written notice of the applicability of this section.

Adjustments Necessary to Comply with Maximum Payment Limit. If, notwithstanding the initial application of Section 3.6(g3.6(f), the Internal Revenue Service determines that any amount paid or benefit provided to Executive would constitute an Excess Parachute Payment, Section 3.6(g3.6(f) will be reapplied based on the Internal Revenue Service’s determination and Executive will be required to repay to the Bank any Overpayment (as defined below) immediately upon receipt of written notice of the applicability of this section.

Adjustments Necessary to Comply with Maximum Payment Limit. If, notwithstanding the initial application of Section 3.6(g3.6(h), the Internal Revenue Service determines that any amount paid or benefit provided to Executive would constitute an Excess Parachute Payment, Section 3.6(g3.6(h) will be reapplied based on the Internal Revenue Service’s determination and Executive will be required to repay to the Bank any Overpayment (as defined below) immediately upon receipt of written notice of the applicability of this section.

Adjustments Necessary to Comply with Maximum Payment Limit. If, notwithstanding the initial application of Section 3.6(g3.7(g), the Internal Revenue Service determines that any amount paid or benefit provided to Executive would constitute an Excess Parachute Payment, Section 3.6(g3.7(g) will be reapplied based on the Internal Revenue Service’s determination and Executive will be required to repay to the Bank Company any Overpayment (as defined below) immediately upon receipt of written notice of the applicability of this section.

Adjustments Necessary to Comply with Maximum Payment Limit. If, notwithstanding the initial application of Section 3.6(g)5.3, the Internal Revenue Service determines that any amount paid or benefit provided to Executive would constitute an Excess Parachute Payment, Section 3.6(g) 5.3 will be reapplied based on the Internal Revenue Service’s determination and Executive will be required to repay to the Bank Company any Overpayment (as defined below) immediately upon receipt of written notice of the applicability of this section.