Common use of Changes in IRS Maximum Amounts Clause in Contracts

Changes in IRS Maximum Amounts. As used in this Article, “IRS Maximum” means the maximum nontaxable M&IE and personal vehicle reimbursement amounts stated in IRS regulations, rulings, and procedures applicable to employee business travel expenses. If, during the term of this Agreement, the IRS raises these maximum amounts, the Company will adjust the affected payments ac- cordingly (except as specifically limited elsewhere in this Ar- ticle) on the first day of the month next following the effec- tive date of the IRS adjustment.

Changes in IRS Maximum Amounts. As used in this Article, “IRS Maximum” means the maximum nontaxable M&IE and personal vehicle reimbursement amounts stated in IRS regulations, rulings, and procedures applicable to employee business travel expenses. If, during the term of this Agreement, the IRS raises these maximum amounts, the Company will adjust the affected payments ac- cordingly (except as specifically limited elsewhere exceptasspecificallylimitedelsewhere in this Ar- ticle) on the first day of the month next following the effec- tive date of the IRS adjustment.