Common use of Section 280G of the Internal Revenue Code Clause in Contracts

Section 280G of the Internal Revenue Code. In the event that the Company enters into an arrangement or agreement with any Company employee intended to compensate such employee for the excise tax imposed on such employee under Section 4999 of the Internal Revenue Code of 1986, as amended (or any successor provision thereto) or any interest or penalties with respect to such excise tax in connection with payments or benefits constituting parachute payments within the meaning of Section 280G of the Code, the Company will make the same arrangement or agreement available to the Executive.