Common use of Limit on Payments by the Company Clause in Contracts

Limit on Payments by the Company. (i) Application of Section 7(d). In the event that any amount or benefit paid or distributed to the Executive pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to the Executive by the Company or any affiliated company (collectively, the “Covered Payments”), would be an “excess parachute payment” as defined in Section 280G of the Code and would thereby subject the Executive to the tax (the “Excise Tax”) imposed under Section 4999 of the Code (or any similar tax that may hereafter be imposed), the provisions of this Section 7(d) shall apply to determine the amounts payable to Executive pursuant to this Agreement.

Limit on Payments by the Company. (i) Application of Section 7(d7(h). In the event that any amount or benefit paid or distributed to the Executive pursuant to this AgreementAgree-ment, taken together with any amounts or benefits bene-fits otherwise paid or distributed to the Executive by the Company or any affiliated company (collectivelycollec-tively, the “"Covered Payments”"), would be an “"excess parachute payment” " as defined in Section 280G of the Code and would thereby subject the Executive to the tax (the “"Excise Tax”") imposed under Section 4999 of the Code (or any similar tax that may hereafter hereaf-ter be imposed), the provisions of this Section 7(d7(e) shall apply to determine the amounts payable to Executive pursuant to this Agreement.

Limit on Payments by the Company. (i) Application of Section 7(d7(e). In the event that any amount --------------------------- or benefit paid or distributed to the Executive pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to the Executive by the Company or any affiliated company (collectively, the “"Covered Payments”"), would be an “"excess parachute payment” " as defined in Section 280G of the Code and would thereby subject the Executive to the tax (the “"Excise Tax”") imposed under Section 4999 of the Code (or any similar tax that may hereafter be imposed), the provisions of this Section 7(d7(e) shall apply to determine the amounts payable to the Executive pursuant to this Agreement.

Limit on Payments by the Company. (i) Application of Section 7(d). In the event that any amount or benefit paid or distributed to the Executive pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to the Executive by the Company or any affiliated company (collectively, the “"Covered Payments”"), would be an “"excess parachute payment” " as defined in Section 280G of the Code and would thereby subject the Executive to the tax (the “"Excise Tax”") imposed under Section 4999 of the Code (or any similar tax that may hereafter be imposed), the provisions of this Section 7(d) shall apply to determine the amounts payable to Executive pursuant to this Agreement.

Limit on Payments by the Company. (ia) Application of this Section 7(d)7. In the event that any amount or benefit paid or distributed to the Executive pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to the Executive by the Company or any affiliated company (collectively, the “"Covered Payments”"), would be an “"excess parachute payment” " as defined in Section 280G of the Internal Revenue Code of 1986 (the "Code") and would thereby subject the Executive to the tax (the “"Excise Tax”") imposed under Section 4999 of the Code (or any similar tax that may hereafter be imposed), the provisions of this Section 7(d) 7 shall apply to determine the amounts payable to Executive pursuant to this Agreement.