Common use of Modification of Change in Control Benefit for Excess Parachute Payments Clause in Contracts

Modification of Change in Control Benefit for Excess Parachute Payments. If: (1) the amount of the Change in Control Benefit is determined by the External Auditor to be a "parachute payment" under Code Section 280G(b)(2); and (2) the External Auditor determines that the Change in Control Benefit, when added to any other amounts paid by the Employer to the Employee in relation to a Change in Control, would result in the imposition of a tax on the Change in Control Benefit under Code Section 4999,