Common use of General Requirements and Limitations Clause in Contracts

General Requirements and Limitations. The severance benefits under this Agreement shall be in lieu of any other payment due to Executive under any other contractual rights between Executive and the Company arising from or incident to any employment agreement or other severance benefit programs of the Company. Notwithstanding anything to the contrary, no severance benefit shall be payable to Executive from and after the date of the Executive's material breach of his obligations contained in the Noncompete Agreement, any such material breach resulting in an immediate forfeiture of all future benefits otherwise payable hereunder. Furthermore, notwithstanding any other provision hereunder, if the Executive will incur any excise tax under Section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), due to any payment under this or other agreements with the Company, then the amount payable as severance benefits hereunder shall be reduced to equal one dollar less than three times the Executive's "base amount" under Section 280G of the Code, reduced by the present value of any other payments that constitute "payments" thereunder.