Common use of Limitation on Payment Clause in Contracts

Limitation on Payment. The Salary Continuation Payment will not exceed an amount equal to $1.00 less than the amount which would cause the payment, together with any other payments received from the Company, to be a "parachute payment" as defined in Section 280G(b)(2)(A) of the Internal Revenue Code.

Limitation on Payment. The Notwithstanding anything in this Agreement to the contrary, the Salary Continuation Payment will shall not exceed an amount equal to One Dollar ($1.00 1.00) less than the amount which would cause the payment, together with any other payments received from the CompanyBancorp, to be a "parachute payment" as defined in Section 280G(b)(2)(A) of the Internal Revenue Code.

Limitation on Payment. The Notwithstanding anything in this Agreement to the contrary, the Salary Continuation Payment will shall not exceed an amount equal to One Dollar ($1.00 1.00) less than the amount which would cause the payment, together with any other payments received from the Company, to be a "parachute payment" as defined in Section 280G(b)(2)(A) of the Internal Revenue Code.

Limitation on Payment. The Notwithstanding anything in this Agreement to the contrary, the Salary Continuation Payment will shall not exceed an amount equal to $1.00 less than the amount which would cause the payment, together with any other payments received from the Company, to be a "parachute payment" as defined in Section 280G(b)(2)(A) of the Internal Revenue Code.