Deductibility of Severance Payments. (a) The Company shall, and shall cause each of the Subsidiaries to, ensure that no severance or other payments made by the Company or any of the Subsidiaries constitute non-deductible "parachute payments" under Section 280G of the Code.
Appears in 3 contracts
Samples: Agreement and Plan of Reorganization (Gold Banc Corp Inc), Agreement and Plan of Reorganization (American Bancshares Inc \Fl\), Agreement and Plan of Reorganization (Gold Banc Corp Inc)
Deductibility of Severance Payments. (a) The Company shall, and shall cause each of the Subsidiaries to, use all reasonable efforts to ensure that no severance or other payments are made to the Significant Stockholders or otherwise by the Company or any of the Subsidiaries which constitute non-deductible "parachute payments" under Section 280G of the Code.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Gold Banc Corp Inc), Agreement and Plan of Reorganization (Union Bankshares LTD)
