Common use of Noncumulation of cash benefits Clause in Contracts

Noncumulation of cash benefits. Executive may not cumulate cash severance payments and excise tax reimbursement benefits under both this Agreement and another agreement. If Executive has any other binding written agreement with the Company which provides that upon a Change of Control or termination of employment the Executive shall receive one or more of the benefits described in sections 2.2, 2.5 and 3 of this Agreement (i.e., the payment of cash compensation or prorated bonus, post-termination consulting and adjustments or payments relating to federal excise tax), then with respect to each such benefit the amount payable under this Agreement shall be reduced by the corresponding amount paid or payable under such other agreements.

Noncumulation of cash benefits. An Executive may not cumulate cash severance payments and excise tax reimbursement benefits under both this Agreement and another agreement. If an Executive has any other binding written agreement with the Company which provides that upon a Change of Control or termination of employment the an Executive shall receive one or more of the benefits described in sections 2.2, 2.5 and 3 Section 2.2 of this Agreement (i.e., the payment of cash compensation or prorated bonus, post-termination consulting and adjustments or payments relating to federal excise tax), then with respect to each such benefit the amount payable under this Agreement shall be reduced by the corresponding amount paid or payable under such other agreements.