Common use of Accounting Firm’s Opinion Clause in Contracts

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the Executive, the Accounting Firm shall furnish the Executive with a written opinion to that effect and to the effect that failure to report Excise Tax, if any, on the Executive’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 48 contracts

Samples: Severance Agreement (Cortland Bancorp Inc), Severance Agreement (Cortland Bancorp Inc), Severance Agreement (Cortland Bancorp Inc)

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Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the Executive, the Accounting Firm shall furnish the Executive with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the Executive’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 32 contracts

Samples: Salary Continuation Agreement (Home Bancorp Wisconsin, Inc.), Employment Agreement (Southern Community Financial Corp), Employment Agreement (Cape Fear Bank CORP)

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the Executive, the Accounting Firm shall furnish the Executive with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the Executive’s 's applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 17 contracts

Samples: Salary Continuation Agreement (Greenville First Bancshares Inc), Severance Agreement (Unizan Financial Corp), Employment Agreement (First South Bancorp Inc)

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the ExecutiveEmployee, the Accounting Firm shall furnish the Executive Employee with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the Executive’s Employee's applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 5 contracts

Samples: Employment Agreement (First Financial Corp /In/), Employment Agreement (First Financial Corp /In/), Employment Agreement (First Financial Corp /In/)

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the Executive, the Accounting Firm shall will furnish the Executive with a written opinion to that effect and to the effect that failure to report Excise Tax, if any, on the Executive’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 4 contracts

Samples: Severance Agreement (Cortland Bancorp Inc), Severance Agreement (Cortland Bancorp Inc), Severance Agreement (Cortland Bancorp Inc)

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the ExecutiveEmployee, the Accounting Firm shall furnish the Executive Employee with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the ExecutiveEmployee’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 4 contracts

Samples: Employment Agreement (First Financial Corp /In/), Employment Agreement (First Financial Corp /In/), Employment Agreement (First Financial Corp /In/)

Accounting Firm’s Opinion. If the Accounting Firm determines that no ------------------------- Excise Tax is payable by the Executive, the Accounting Firm shall furnish the Executive with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the Executive’s 's applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 2 contracts

Samples: Employment Agreement (BNC Bancorp), Salary Continuation Agreement (BNC Bancorp)

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the Executive, the Accounting Firm shall furnish the Executive with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the Executive’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 1 contract

Samples: Employment Agreement (North Penn Bancorp Inc)

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Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the Executive, the Accounting Firm shall furnish the Executive with a written opinion to that effect and to the effect that failure to report Excise Tax, if any, on the Executive’s applicable federal income tax return will is not likely to result in the imposition of a negligence or similar penalty.

Appears in 1 contract

Samples: Executive Employment Agreement (Crescent Financial Corp)

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the ExecutiveOfficer, the Accounting Firm shall furnish the Executive Officer with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the ExecutiveOfficer’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 1 contract

Samples: Employment Agreement (Oak Ridge Financial Services, Inc.)

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the Executive, the Accounting Firm shall furnish the Executive with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the Executive’s =s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 1 contract

Samples: Salary Continuation Agreement (Crescent Financial Corp)

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the ExecutiveOfficer, the Accounting Firm shall furnish the Executive Officer with a written opinion to that effect effect, and to the effect that failure to report Excise Tax, if any, on the ExecutiveOfficer’s applicable federal income tax return will not result in the imposition of a negligence or similar penalty.

Appears in 1 contract

Samples: Employment Agreement (Waccamaw Bankshares Inc)

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