Common use of Section 280G Limitation Clause in Contracts

Section 280G Limitation. If any severance or salary continuation payments are to be made under the terms of paragraph 10 herein (together with any other payments which the Executive has the right to receive from the Bank as a result of the termination of Executive without cause by the Bank or the termination by Executive for Good Reason), and those payments shall be determined by the Bank’s or its successor’s, as the case may be, independent certified public accountants to constitute a “golden-parachute payment” under Section 280G of the Internal Revenue Code of 1986 (“Code”) and the regulations there under and any successor or similar code section and regulations there under; then the Executive agrees that such aggregate amount shall be reduced in order to avoid the excise tax imposed by section 4999 of the Code. All such amounts hereunder shall be determined by the Bank’s or its successor’s as the case may be, independent certified public accountants, whose determination shall be final and binding upon the parties and their successors to this Agreement.

Section 280G Limitation. If any severance or salary continuation payments are to be made under the terms of paragraph 10 Paragraph 11 herein (together with any other payments which the Executive has the right to receive from the Bank Employers as a result of the termination of Executive without cause by the Bank Employers or both or the termination by Executive for Good Reason), and those payments shall be determined by the Bank’s Employers' or its successor’stheir successors', as the case may be, independent certified public accountants to constitute a “"golden-parachute payment” " under Section 280G of the Internal Revenue Code of 1986 (“"Code”") and the regulations there under thereunder, and any successor or similar code section and regulations there underthereunder; then the Executive agrees that such aggregate amount shall be reduced in order to avoid the excise tax imposed by section Section 4999 of the Code. All such amounts hereunder shall be determined by the Bank’s Employers' or its successor’s their successors' as the case may be, independent certified public accountantsaccounts, whose determination shall be final and binding upon the parties and their successors to this Agreement.

Section 280G Limitation. If any severance or salary continuation payments are to be made under the terms of paragraph Paragraph 10 herein (together with any other payments which the Executive has the right to receive from the Bank Employers as a result of the termination of Executive without cause by the Bank Employers or both or the termination by Executive for Good Reason), and those payments shall be determined by the Bank’s Employers' or its successor’stheir successors', as the case may be, independent certified public accountants to constitute a “"golden-parachute payment” " under Section 280G of the Internal Revenue Code of 1986 (“"Code”") and the regulations there under thereunder and any successor or similar code section and regulations there underthereunder; then the Executive agrees that such aggregate amount shall be reduced in order to avoid the excise tax imposed by section Section 4999 of the Code. All such amounts hereunder shall be determined by the Bank’s Employers' or its successor’s their successors', as the case may be, independent certified public accountantsaccounts, whose determination shall be final and binding upon the parties and their successors to this Agreement.

Section 280G Limitation. If any severance or salary continuation payments are to be made under the terms of paragraph Paragraph 10 herein (together with any other payments which the Executive has the right to receive from the Bank as a result of the termination of Executive without cause by the Bank or the termination by Executive for Good Reason), and those payments shall be determined by the Bank’s or its successor’s, as the case may be, independent certified public accountants to constitute a “golden-parachute payment” under Section 280G of the Internal Revenue Code of 1986 (“Code”) and the regulations there under thereunder and any successor or similar code section and regulations there underthereunder; then the Executive agrees that such aggregate amount shall be reduced in order to avoid the excise tax imposed by section Section 4999 of the Code. All such amounts hereunder shall be determined by the Bank’s or its successor’s ’s, as the case may be, independent certified public accountants, whose determination shall be final and binding upon the parties and their successors to this Agreement.

Section 280G Limitation. If any severance or salary continuation payments are to be made under the terms of paragraph Paragraph 10 herein (together with any other payments which the Executive has the right to receive from the Bank as a result of the termination of Executive without cause by the Bank or the termination by Executive for Good Reason), and those payments shall be determined by the Bank’s 's or its successor’s's, as the case may be, independent certified public accountants to constitute a “"golden-parachute payment” " under Section 280G of the Internal Revenue Code of 1986 (“"Code”") and the regulations there under thereunder and any successor or similar code section and regulations there underthereunder; then the Executive agrees that such aggregate amount shall be reduced in order to avoid the excise tax imposed by section Section 4999 of the Code. All such amounts hereunder shall be determined by the Bank’s 's or its successor’s 's, as the case may be, independent certified public accountantsaccounts, whose determination shall be final and binding upon the parties and their successors to this Agreement.