Example ContractsClausesLimitation on Benefits
Limitation on Benefits
Limitation on Benefits contract clause examples

Limitation on Liability. The obligations of Lessor under this Lease shall not constitute personal obligations of Lessor, or its partners, members, directors, officers or shareholders, and Lessee shall look to the Premises, and to no other assets of Lessor, for the satisfaction of any liability of Lessor with respect to this Lease, and shall not seek recourse against Lessor's partners, members, directors, officers or shareholders, or any of their personal assets for such satisfaction.

Limitation on Benefits. If, following a termination of employment that gives the Employee a right [[Organization A:Organization]] payment of the Actual Full Year Bonus Amount, the Actual Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4], the Employee violates any of the covenants in [Section 7] or as otherwise set forth in the Release, the Employee will have no further right or claim [[Organization A:Organization]] Actual Full Year Bonus Amount, the Target Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4] from and after the date on which the Employee engages in such activities, and the Company will have no further obligations with respect to such payments or benefits, and the covenants in [Section 7] will nevertheless continue in full force and effect.

Limitation on Benefits. If, following a termination of employment that gives the Employee a right to the payment of the Actual Full Year Bonus Amount, the Actual Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4], the Employee violates any of the covenants in [Section 7] or as otherwise set forth in the Release, the Employee will have no further right or claim to the Actual Full Year Bonus Amount, the Target Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4] from and after the date on which the Employee engages in such activities, and the Company will have no further obligations with respect to such payments or benefits, and the covenants in [Section 7] will nevertheless continue in full force and effect.

Limitation on Benefits. If, following a termination of employment that gives the Employee a right [[Organization A:Organization]] payment of the Actual Full Year Bonus Amount, the Actual Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4], the Employee violates any of the covenants in [Section 7] or as otherwise set forth in the Release, the Employee will have no further right or claim [[Organization A:Organization]] Actual Full Year Bonus Amount, the Target Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4] from and after the date on which the Employee engages in such activities, and the Company will have no further obligations with respect to such payments or benefits, and the covenants in [Section 7] will nevertheless continue in full force and effect.

Limitation on Repricing. Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9): # amend any outstanding SAR granted under the Plan to provide a measurement price per share that is lower than the then-current measurement price per share of such outstanding SAR, # cancel any outstanding SAR (whether or not granted under the Plan) and grant in substitution therefor new Awards under the Plan covering the same or a different number of shares of Common Stock and having an exercise or measurement price per share lower than the then-current measurement price per share of the cancelled SAR, # cancel in exchange for a cash payment any outstanding SAR with a measurement price per share above the then-current Fair Market Value or # take any other action under the Plan that constitutes a “repricing” within the meaning of the rules of Nasdaq.

Limitation on Benefits. The amounts paid to you pursuant to [Subsection 2(c)(iii) or 2(d)(iii)])], above, will not be included as compensation for purposes of any qualified or nonqualified pension or welfare benefit plan of the Consolidated [[Organization A:Organization]]. Notwithstanding anything contained herein to the contrary, the Corporation, based on the advice of its legal or tax counsel, shall compute whether there would be any “excess parachute payments” payable to you, within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), taking into account the total ‘‘parachute payments,” within the meaning of Section 280G of the Code, payable to you by the Corporation under this letter agreement and any other plan, agreement or otherwise. If there would be any excess parachute payments, the Corporation, based on the advice of its legal or tax counsel, shall compute the net after-tax proceeds to you, taking into account the excise tax imposed by Section 4999 of the Code, as if # the amount to be paid to you pursuant to [Subsection 2(d)(iii)] were reduced, but not below zero, such that the total parachute payments payable to you would not exceed three (3) times the “base amount” as defined in Section 280G of the Code, less One Dollar ($1.00), or # the full amount to be paid to you pursuant to [Subsection 2(d)(iii)] were not reduced. If reducing the amount otherwise payable to you pursuant to [Subsection 2(d)(iii)] hereof would result in a greater after-tax amount to you, such reduced amount shall be paid to you and the remainder shall be forfeited by you as of the Date of Termination. If not reducing the amount otherwise payable to you pursuant to [Subsection 2(d)(iii)] would result in a greater after-tax amount to you, the amount payable to you pursuant to [Subsection 2(d)(iii)] shall not be reduced.

Limitation on Benefits. If, following a termination of employment that gives the Employee a right to the payment of the Actual Full Year Bonus Amount, the Actual Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4], the Employee violates any of the covenants in Section 7 or as otherwise set forth in the Release, the Employee will have no further right or claim to the Actual Full Year Bonus Amount, the Target Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4] from and after the date on which the Employee engages in such activities, and the Company will have no further obligations with respect to such payments or benefits, and the covenants in Section 7 will nevertheless continue in full force and effect.

Limitation on Benefits. If, following a termination of employment that gives the Employee a right [[Organization A:Organization]] payment of the Actual Full Year Bonus Amount, the Actual Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4], the Employee violates any of the covenants in [Section 7] or as otherwise set forth in the Release, the Employee will have no further right or claim [[Organization A:Organization]] Actual Full Year Bonus Amount, the Target Pro Rata Bonus Amount and/or any Severance Benefits to which the Employee may otherwise be entitled under [Section 6.1], [Section 6.2] or [Section 6.4] from and after the date on which the Employee engages in such activities, and the Company will have no further obligations with respect to such payments or benefits, and the covenants in [Section 7] will nevertheless continue in full force and effect.

Limitation on Guarantee. In any Insolvency Proceeding or any action or proceeding involving any corporate or other organizational law, if the Guarantor’s obligations hereunder would, taking into account any of the Guarantor’s rights to contribution, be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability hereunder, then notwithstanding any other provision hereof to the contrary, the amount of such liability is automatically limited and reduced, without any further action by the Guarantor, the Secured Parties or any other Person, to the highest amount that is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.

Limitation on Repricing. Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9): # amend any outstanding Option granted under the Plan to provide an exercise price per share that is lower than the then-current exercise price per share of such outstanding Option, # cancel any outstanding option (whether or not granted under the Plan) and grant in substitution therefor new Awards under the Plan covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of the cancelled option, # cancel in exchange for a cash payment any outstanding Option with an exercise price per share above the then-current Fair Market Value or # take any other action under the Plan that constitutes a “repricing” within the meaning of the rules of the Nasdaq Stock Market (“Nasdaq”).

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