Common use of Termination and Other Payments Clause in Contracts

Termination and Other Payments. No severance and termination payments, benefits, acceleration of benefit vesting, and other compensation paid by the Company or any of its subsidiaries, as provided for in this Agreement or otherwise, shall constitute "excess parachute payments" under Section 28OG of the Code, giving effect to any obligations of the Purchaser or any subsidiary thereof, as provided herein. The disallowance of a deduction under Section 162(m) of the Code for employee remuneration will not apply to any amount paid or payable by the Company or any Company Subsidiary under any contract, benefit plan, program, arrangement or understanding currently in effect.