Common use of Benefit Limitation Clause in Contracts

Benefit Limitation. Notwithstanding any provision to the contrary in this Agreement, should any accelerated vesting of this option in connection with a Change in Control transaction constitute a parachute payment under Code Section 280G, then such vesting acceleration shall be subject to the benefit limitation provisions of Section __ of the Employment Agreement.

Appears in 2 contracts

Samples: Stock Option Agreement (Apollo Group Inc), Stock Option Agreement (Apollo Group Inc)

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Benefit Limitation. Notwithstanding any provision to the contrary in this Agreement, should any accelerated vesting of the Shares subject to this option Award in connection with a Change in Control transaction constitute a parachute payment under Code Section 280G, then such vesting acceleration shall be subject to the benefit limitation provisions of Section ___ of the Employment Agreement.

Appears in 2 contracts

Samples: Performance Share Award Agreement (Apollo Group Inc), Performance Share Award Agreement (Apollo Group Inc)

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Benefit Limitation. Notwithstanding any provision to the contrary in this Agreement, should any accelerated vesting of this option Option in connection with a Change in Control transaction constitute a parachute payment under Code Section 280G, then such vesting acceleration shall be subject to the benefit limitation provisions of Section __ of the Employment Agreement.

Appears in 1 contract

Samples: Stock Option Agreement (Apollo Education Group Inc)

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