Common use of Reduction in Payment Clause in Contracts

Reduction in Payment. In the event that any payment hereunder would, in the opinion of the Company's independent accounting firm, if not reduced, cause an excise tax under Section 4999 of the Internal Revenue Code of 1986, as amended on Consultant, the amount of such payment shall be reduced by the minimum amount, if any, that in the opinion of such accounting firm, is necessary to avoid such excise tax. The determination of the accounting firm shall be conclusive and binding on the parties.

Reduction in Payment. In the event that any payment hereunder would, in the opinion of the Company's independent accounting firm, if not reduced, cause an excise tax under Section 4999 of the Internal Revenue Code of 1986, as amended on ConsultantExecutive, the amount of such payment shall be reduced by the minimum amount, if any, that in the opinion of such accounting firm, is necessary to avoid such excise tax. The determination of the accounting firm shall be conclusive and binding on the parties.