We propose novel techniques to minimize the power and performance penalties in protecting the NoC against soft errors, while giving desired reliability guarantees. Some applications have inherent error tolerance which can be exploited to save power, by turning off the error correction mechanisms for a fraction of the total time without trading off reliability. To further increase the power savings, we bound the vulnerability of a router by throttling the traffic into the router. In order to minimize the throughput loss due to throttling, we propose dividing the die into domains and using multiple vulnerability bounds across these domains. We explore both static and dynamic selection of vulnerability bounds. We find that for applications with an error tolerance of 10% of the raw error rate, the dynamic multiple vulnerability bound scheme can save up to 44% of power expended for error correction at a marginal network throughput loss of 3%.