Common use of Excess Parachute Payment Clause in Contracts

Excess Parachute Payment. Notwithstanding anything in this Agreement to the contrary, in the event that the benefit payable to Executive pursuant to this Agreement should cause a “parachute payment”, as defined in Code Section 280G(b)(2) of the Code, then such benefit shall be reduced One Dollar ($1.00) at a time until the payment will not constitute a parachute payment. In the event the benefit Executive receives under this Agreement should be incorrectly calculated so that such amount constitutes a parachute payment, then Executive will promptly refund to Company the excess amount. Excess amount shall mean the amount in excess of Executive’s base amount, as defined in Code Section 280G(b)(3), multiplied by 2.999.

Excess Parachute Payment. Notwithstanding anything in this Agreement to the contrary, in the event that the benefit payable to Executive pursuant to this Agreement should cause a “parachute payment”, ,” as defined in Code Section 280G(b)(2) of the Code, then such benefit shall be reduced One Dollar ($1.00) at a time until the payment will not constitute a parachute payment. In the event the benefit Executive receives under this Agreement should be incorrectly calculated so that such amount constitutes a parachute payment, then Executive will promptly refund to Company Bank the excess amount. Excess amount shall mean the amount in excess of Executive’s base amount, as defined in Code Section 280G(b)(3), multiplied by 2.999.

Excess Parachute Payment. Notwithstanding anything in this Agreement to the contrary, in the event that the benefit payable to Executive pursuant to this Agreement should cause a “parachute payment”, as defined in Code Section 280G(b)(2) of the Code, then such benefit shall be reduced One Dollar ($1.00) at a time until the payment will not constitute a parachute payment. In the event even the benefit Executive receives under this Agreement should be incorrectly calculated so that such amount constitutes a parachute payment, then Executive will promptly refund to Company the excess amount. Excess amount shall mean the amount in excess of Executive’s base amount, as defined in Code Section 280G(b)(3), multiplied by 2.999.

Excess Parachute Payment. Notwithstanding anything in this Agreement to the contrary, in In the event that the benefit payable to the Executive pursuant to this Agreement should cause a “"parachute payment”, ," as defined in Code Section 280G(b)(2) of the Code, then such benefit shall be reduced One Dollar ($1.00) at a time until the payment will not constitute a parachute payment. In the event the benefit the Executive receives under this Agreement should be incorrectly calculated so that such amount constitutes a parachute payment, then the Executive will promptly refund to Company the excess amount. Excess amount shall mean the amount in excess of the Executive’s 's base amount, as defined in Code Section 280G(b)(3), multiplied by 2.999.

Excess Parachute Payment. Notwithstanding anything in this Agreement to the contrary, in In the event that the benefit payable to Executive pursuant to this Agreement should cause a “"parachute payment”, ," as defined in Code Section 280G(b)(2) of the Code), then such benefit shall be reduced One Dollar ($1.00) at a time until the payment will not constitute a parachute payment. In the event the benefit Executive receives under this Agreement should be incorrectly calculated so that such amount constitutes a parachute payment, then Executive will promptly refund to Company the excess amount. Excess amount shall mean the amount in excess of Executive’s 's base amount, as defined in Code Section 280G(b)(3), multiplied by 2.999.

Excess Parachute Payment. Notwithstanding anything in this Agreement to the contrary, in In the event that the benefit payable to the Executive pursuant to this Agreement should cause a “"parachute payment”, payment,(11) as defined in Code Section section 280G(b)(2) of the Code, then such benefit shall be reduced One Dollar ($1.00SI.00) at a time until the payment will not constitute a parachute payment. In the event the benefit the Executive receives under this Agreement should be incorrectly calculated so that such amount constitutes a parachute payment, then the Executive will promptly refund to Company the excess amount. Excess amount shall mean the amount in excess of the Executive’s 's base amount, as defined in Code Section 280G(b)(3), multiplied by 2.999.

Excess Parachute Payment. Notwithstanding anything in this Agreement to the contrary, in In the event that the benefit payable to the Executive pursuant to this Agreement should cause a “"parachute payment”, ," as defined in Code Section section 280G(b)(2) of the Code, then such benefit shall be reduced One Dollar ($1.00Si.00) at a time until the payment will not constitute a parachute payment. In the event the benefit the Executive receives under this Agreement should be incorrectly calculated so that such amount constitutes a parachute payment, then the Executive will promptly refund to Company the excess amount. .. Excess amount shall mean the amount in excess of the Executive’s 's base amount, as defined in Code Section 280G(b)(3), multiplied by 2.999.