Common use of Excess Parachute Payments Clause in Contracts

Excess Parachute Payments. 4.1. It is the intention of the parties hereto that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s services to the Company and shall not constitute “excess parachute payments” within the meaning of Section 280G of the Code and any regulations thereunder. In the event that the Company’s independent accountants acting as auditors for the Company on the date of a Change in Control determine that the payments provided for herein constitute “excess parachute payments,” then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “excess parachute payments.”

Excess Parachute Payments. 4.1. 7.1 It is the intention of the parties hereto that the severance payments and other compensation provided for herein (other than payments pursuant to Section 9) are reasonable compensation for Executive’s 's services to the Company and shall not constitute “"excess parachute payments” " within the meaning of Section 280G of the Code and any regulations thereunderhereunder. In the event that the Company’s 's independent accountants acting as auditors for the Company on the date of a Change in Control determine that the payments provided for herein constitute “"excess parachute payments,” " then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “"excess parachute payments.”"

Excess Parachute Payments. 4.1. It is the intention of the parties hereto that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s 's services to the Company and shall not constitute “"excess parachute payments” " within the meaning of Section 280G of the Code and any regulations thereunder. In the event that the Company’s 's independent accountants acting as auditors for the Company on the date of a Change in Control determine that the payments provided for herein constitute “"excess parachute payments,” " then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “"excess parachute payments.”"

Excess Parachute Payments. 4.1. 7.1 It is the intention of the parties hereto that the severance payments and other compensation provided for herein (other than payments pursuant to Section 9) are reasonable compensation for Executive’s 's services to the Company and shall not constitute “"excess parachute payments” " within the meaning of Section 280G of the Code and any regulations thereunder. In the event that the Company’s 's independent accountants acting as auditors for the Company on the date of a Change in Control determine that the payments provided for herein constitute “"excess parachute payments,” " then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “"excess parachute payments.”"

Excess Parachute Payments. 4.1. It is the intention of the parties hereto to this Agreement that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s 's services to the Company Bank and shall not constitute “"excess parachute payments” " within the meaning of Section 280G of the Internal Revenue Code and any regulations thereunderof 1986, as amended. In the event that the Company’s independent accountants acting as auditors for the Company , on the date of a Change in Control determine of Control, determines that the payments provided for herein constitute “"excess parachute payments,” " then the compensation payable hereunder under this Agreement shall be reduced to the point that at which such compensation shall not qualify as “an "excess parachute paymentspayment.”"

Excess Parachute Payments. 4.1. It is the intention of the parties hereto that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s 's services to the Company and shall not constitute “"excess parachute payments” " within the meaning of Section 280G of the Code and any regulations thereunder. In the event that the Company’s 's independent accountants acting as auditors for the Company on the date of a Change in Control determine that the payments provided for herein constitute “"excess parachute payments,” " then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “"excess parachute payments.”"

Excess Parachute Payments. 4.1. It is the intention of the parties hereto to this Agreement that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s 's services to the Company and shall not constitute “"excess parachute payments” " within the meaning of Section 280G of the Internal Revenue Code and any regulations thereunderof 1986, as amended. In the event that the Company’s independent accountants acting as auditors for the Company , on the date of a Change in Control determine of Control, determines that the payments provided for herein constitute “"excess parachute payments,” " then the compensation payable hereunder under this Agreement shall be reduced to the point that at which such compensation shall not qualify as “an "excess parachute paymentspayment.”"

Excess Parachute Payments. 4.1. It is the intention of the parties hereto that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s services to the Company and shall not constitute “excess parachute payments” within the meaning of Section 280G of the Code and any regulations thereunder. In the event that the Company’s independent accountants acting as auditors for the Company on the date of a Change in Control determine that the payments provided for herein constitute “excess parachute payments,” then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “excess parachute payments.”

Excess Parachute Payments. 4.1. It is the intention of the parties hereto that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s 's services to the Company and shall not constitute “"excess parachute payments” " within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, and any regulations thereunder. In the event that the Company’s independent accountants acting as auditors for the Company on the date of a Change in of Control determine that the payments provided for herein constitute “"excess parachute payments,” ", then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “"excess parachute payments".”

Excess Parachute Payments. 4.1. It is the intention of the parties hereto that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s 's services to the Company and shall not constitute “excess parachute payments” within the meaning of Section 280G of the Code and any regulations thereunder. In the event that the Company’s 's independent accountants acting as auditors for the Company on the date of a Change in Control determine that the payments provided for herein constitute “excess parachute payments,” then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “excess parachute payments.”

Excess Parachute Payments. 4.1. It is the intention of the parties hereto -------------------------- that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s 's services to the Company and shall not constitute “"excess parachute payments” " within the meaning of Section 280G 28OG of the Internal Revenue Code of 1986, as amended, and any regulations thereunder. In the event that the Company’s 's independent accountants acting as auditors for the Company on the date of a Change in of Control determine that the payments provided for herein constitute “"excess parachute payments,” " then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “"excess parachute payments.”"

Excess Parachute Payments. 4.1. It is the intention of the parties hereto that the severance payments and other compensation provided for herein are reasonable compensation for Executive’s 's services to the Company and shall not constitute “"excess parachute payments” " within the meaning of Section 280G 28OG of the Internal Revenue Code of 1986, as amended, and any regulations thereunder. In the event that the Company’s 's independent accountants acting as auditors for the Company on the date of a Change in of Control determine that the payments provided for herein constitute “"excess parachute payments,” " then the compensation payable hereunder shall be reduced to the point that such compensation shall not qualify as “"excess parachute payments.”"