Common use of TAX LIMITATION Clause in Contracts

TAX LIMITATION. If Employer reasonably determines that the payment provided for in paragraph 15 hereof (the “Termination Payment”) will likely result in a loss of a deduction to Employer as provided under Section 180G of the Internal Revenue code of 1986, or any successor provision thereto, and the imposition of the excise tax payable by Executive as provided under Section 4999 of the Internal Revenue Code of 1986, or any successor provision thereto, such Termination Payment shall be reduced by the least amount required to avoid such loss of deduction and imposition of excise tax (collectively referred to hereinafter as the “Tax Penalties”). Employer shall make no Termination Payment to Executive prior to determining whether the Tax Penalties will apply to the Termination Payment. Employer shall make such determination within a reasonable time after Executive’s resignation or discharge, but not to exceed 90 days thereafter.

TAX LIMITATION. If Employer reasonably determines that the payment provided for in paragraph 15 hereof (the “"Termination Payment”") will likely result in a loss of a deduction to Employer as provided under Section 180G 28OG of the Internal Revenue code of 1986, or any successor provision thereto, and the imposition of the excise tax payable by Executive as provided under Section 4999 of the Internal Revenue Code of 1986, or any successor provision thereto, such Termination Payment shall be reduced by the least amount required to avoid such loss of deduction and imposition of excise tax (collectively referred to hereinafter as the “"Tax Penalties”"). Employer shall make no Termination Payment to Executive prior to determining whether the Tax Penalties will apply to the Termination Payment. Employer shall make such determination within a reasonable time after Executive’s 's resignation or discharge, but not to exceed 90 days thereafter.

TAX LIMITATION. If Employer reasonably determines that the payment provided for in paragraph 15 16 hereof (the “"Termination Payment”") will likely result in a loss of a deduction to Employer as provided under Section 180280G of the Internal Revenue code Code of 1986, or any successor provision thereto, and the imposition of the excise tax payable by to Executive as provided under Section 4999 of to the Internal Revenue Code of 1986, or any successor provision thereto, such Termination Payment shall be reduced by the least amount required to avoid such loss of deduction and imposition of excise tax (collectively referred to hereinafter as the “"Tax Penalties”"). Employer shall make no Termination Payment to Executive prior to determining whether the Tax Penalties will apply to the Termination Payment. Employer shall make such determination within a reasonable time after Executive’s 's resignation or discharge, but not to exceed 90 30 days thereafter.

TAX LIMITATION. If Employer reasonably determines that the payment provided for in paragraph 15 hereof (the “"Termination Payment”") will likely result in a loss of a deduction to Employer as provided under Section 180280G of the Internal Revenue code Code of 1986, or any successor provision thereto, and the imposition of the excise tax payable by to Executive as provided under Section 4999 of to the Internal Revenue Code of 1986, or any successor provision thereto, such Termination Payment shall be reduced by the least amount required to avoid such loss of deduction and imposition of excise tax (collectively referred to hereinafter as the “"Tax Penalties”"). Employer shall make no Termination Payment to Executive prior to determining whether the Tax Penalties will apply to the Termination Payment. Employer shall make such determination within a reasonable time after Executive’s 's resignation or discharge, but not to exceed 90 30 days thereafter.

TAX LIMITATION. If Employer reasonably determines that the payment provided for in paragraph 15 hereof (the “"Termination Payment”") will likely result in a loss of a deduction to Employer as provided under Section 180G of the Internal Revenue code of 1986, or any successor provision thereto, and the imposition of the excise tax payable by Executive as provided under Section 4999 of the Internal Revenue Code of 1986, or any successor provision thereto, such Termination Payment shall be reduced by the least amount required to avoid such loss of deduction and imposition of excise tax (collectively referred to hereinafter as the “"Tax Penalties”"). Employer shall make no Termination Payment to Executive prior to determining whether the Tax Penalties will apply to the Termination Payment. Employer shall make such determination within a reasonable time after Executive’s 's resignation or discharge, but not to exceed 90 days thereafter.