Common use of Benefit Limit Clause in Contracts

Benefit Limit. The benefit limitations of this Part Four shall be applicable in the event the Executive receives any benefits under this Agreement which are deemed to constitute parachute payments under Code Section 280G. In the event that any payments to which the Executive becomes entitled in accordance with the provisions of this Agreement would otherwise constitute a parachute payment under Code Section 280G, then such payments will be subject to reduction to the extent necessary to assure that the Executive receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which yields the Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed on the payments provided to the Executive under this Agreement (or on any other benefits to which the Executive may be entitled in connection with any change in control or ownership of the Company or the subsequent termination of the Executive’s employment with the Company) under Code Section 4999. Should a reduction in benefits be required to satisfy the benefit limit of this Section 6, then the salary continuation payments shall accordingly be reduced to the extent necessary to comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest under the vesting-accelerated portion (if any) of each equity award (based on the amount of the parachute payment attributable to such equity award under Code Section 280G) shall be reduced to the extent necessary to eliminate such excess.

Benefit Limit. The benefit limitations of this Part Four Five shall be applicable in the event the Executive receives any benefits under this Agreement which are deemed to constitute parachute payments under Code Section 280G. In the event that any payments to which the Executive becomes entitled in accordance with the provisions of this Agreement would otherwise constitute a parachute payment under Code Section 280G, then such payments will be subject to reduction to the extent necessary to assure that the Executive receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which yields the Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed under Code Section 4999 on the payments provided to the Executive under this Agreement (or on any other benefits to which the Executive may be become entitled in connection with any change in control or ownership of the Company BMP or the subsequent termination of the Executive’s his employment with the Company) under Code Section 4999BMP). Should a reduction in benefits be required to satisfy the benefit limit of this Section 6Paragraph 15, then the salary continuation payments shall accordingly be reduced to the extent necessary to comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest be purchasable under the vesting-accelerated portion (if any) of each equity award Option (based on the amount of the parachute payment attributable to such equity award Option under Code Section 280G) shall be reduced to the extent necessary to eliminate such excess.

Benefit Limit. The benefit limitations of this Part Four Five shall be applicable in the event the Executive receives any benefits under this Agreement which are deemed to constitute parachute payments under Code Section section 280G. In the event that any payments to which the Executive becomes entitled in accordance with the provisions of this Agreement would otherwise constitute a parachute payment under Code Section section 280G, then such payments will be subject to reduction to the extent necessary to assure that the Executive receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which yields the Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed under Code section 4999 on the payments provided to the Executive under this Agreement (or on any other benefits to which the Executive may be become entitled in connection with any change in control or ownership of the Company BMP or the subsequent termination of the Executive’s his employment with the Company) under Code Section 4999BMP). Should a reduction in benefits be required to satisfy the benefit limit of this Section 6Paragraph 14, then the salary continuation payments shall accordingly be reduced to the extent necessary to comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest be purchasable under the vesting-accelerated portion (if any) of each equity award Option (based on the amount of the parachute payment attributable to such equity award Option under Code Section section 280G) shall be reduced to the extent necessary to eliminate such excess.

Benefit Limit. The benefit limitations of this her Part Four Five shall be applicable in the event the Executive receives any benefits under this her Agreement which are deemed to constitute parachute payments under Code Section 280G. In the event that any payments to which the Executive becomes entitled in accordance with the provisions of this her Agreement would otherwise constitute a parachute payment under Code Section 280G, then such payments will be subject to reduction to the extent necessary to assure that the Executive receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which yields the Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed under Code Section 4999 on the payments provided to the Executive under this her Agreement (or on any other benefits to which the Executive may be become entitled in connection with any change in control or ownership of the Company BMP or the subsequent termination of the Executive’s her employment with the Company) under Code Section 4999BMP). Should a reduction in benefits be required to satisfy the benefit limit of this Section 6her Paragraph 15, then the salary continuation payments shall accordingly be reduced to the extent necessary to comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest be purchasable under the vesting-accelerated portion (if any) of each equity award Option (based on the amount of the parachute payment attributable to such equity award Option under Code Section 280G) shall be reduced to the extent necessary to eliminate such excess.

Benefit Limit. The benefit limitations of this Part Four Five shall be applicable in the event the Executive receives any benefits under this Agreement which are deemed to constitute parachute payments under Code Section 280G. In the event that any payments to which the Executive becomes entitled in accordance with the provisions of this Agreement would otherwise constitute a parachute payment under Code Section 280G, then such payments will be subject to reduction to the extent necessary to assure that the Executive receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which yields the Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed under Code Section 4999 on the payments provided to the Executive under this Agreement (or on any other benefits to which the Executive may be become entitled in connection with any change in control or ownership of the Company BMP or the subsequent termination of the Executive’s his employment with the Company) under Code Section 4999BMP). Should a reduction in benefits be required to satisfy the benefit limit of this Section 6Paragraph 14, then the salary continuation payments shall accordingly be reduced to the extent necessary to comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest be purchasable under the vesting-accelerated portion (if any) of each equity award Option (based on the amount of the parachute payment attributable to such equity award Option under Code Section 280G) shall be reduced to the extent necessary to eliminate such excess.