Common use of Parachute Payment Limitation Clause in Contracts

Parachute Payment Limitation. Notwithstanding anything in this agreement to the contrary, if any severance pay or benefits payable under this agreement (without the application of this Section 7), either alone or together with other payments, awards, benefits or distributions (or any acceleration of any payment, award, benefit or distribution) pursuant to any agreement, plan or arrangement with Xxxxxx or any of its affiliates (the "Total Payments"), would constitute a "parachute payment" (as defined in Section 280G of the U.S. Internal Revenue Code of 1986, as amended, and regulations thereunder (the "Code")), then [the following shall occur:

Parachute Payment Limitation. (a) Notwithstanding anything in this agreement Agreement to the contrary, if any severance pay or benefits payable under this agreement (without the application of this Section 715), either alone or together with other payments, awards, benefits or distributions (or any acceleration of any payment, award, benefit or distribution) pursuant to any agreement, plan or arrangement with Xxxxxx the Company or any of its affiliates (the "“Total Payments"”), would constitute a "“parachute payment" ” (as defined in Section 280G of the U.S. Internal Revenue Code of 1986, as amended, and regulations thereunder (the "“Code"”)), then [the following shall occur:

Parachute Payment Limitation. Notwithstanding anything in this agreement to the contrary, if any severance pay or benefits payable under this agreement (without the application of this Section 7), either alone or together with other payments, awards, benefits or distributions (or any acceleration of any payment, award, benefit or distribution) pursuant to any agreement, plan or arrangement with Xxxxxx or any of its affiliates (the "“Total Payments"”), would constitute a "“parachute payment" ” (as defined in Section 280G of the U.S. Internal Revenue Code of 1986, as amended, and regulations thereunder (the "“Code"”)), then [the following shall occur:

Parachute Payment Limitation. Notwithstanding anything in this agreement to the contrary, if any severance pay or benefits payable under this agreement (without the application of this Section 7), either alone or together with other payments, awards, benefits or distributions (or any acceleration of any payment, award, benefit or distribution) pursuant to any agreement, plan or arrangement with Xxxxxx or Asxxxx xr any of its affiliates (the "“Total Payments"”), would constitute a "“parachute payment" ” (as defined in Section 280G of the U.S. Internal Revenue Code of 1986, as amended, and regulations thereunder (the "“Code"”)), then [the following shall occur:

Parachute Payment Limitation. (a) Notwithstanding anything in this agreement Agreement to the contrary, if any severance pay or benefits payable under this agreement Agreement (without the application of this Section 77.7), either alone or together with other payments, awards, benefits or distributions (or any acceleration of any payment, award, benefit or distribution) pursuant to any agreement, plan or arrangement with Xxxxxx the Company or any of its affiliates (the "“Total Payments"”), would constitute a "“parachute payment" ” (as defined in Section 280G of the U.S. Internal Revenue Code of 1986, as amended, and regulations thereunder (the "Code")), then [the following shall occur:

Parachute Payment Limitation. (a) Notwithstanding anything in this agreement Agreement to the contrary, if any severance pay or benefits payable under this agreement (without the application of this Section 713), either alone or together with other payments, awards, benefits or distributions (or any acceleration of any payment, award, benefit or distribution) pursuant to any agreement, plan or arrangement with Xxxxxx the Company or any of its affiliates (the "“Total Payments"”), would constitute a "“parachute payment" ” (as defined in Section 280G of the U.S. Internal Revenue Code of 1986, as amended, and regulations thereunder (the "“Code"”)), then [the following shall occur: