Additional Rules. For purposes of determining the amount of the Tax Reimbursement Payment, the Executive shall be deemed to pay: (A) Federal income taxes at the highest applicable marginal rate of Federal income taxation for the calendar year in which the Tax Reimbursement Payment is to be made, and (B) any applicable state and local income and other taxes at the highest applicable marginal rate of taxation for the calendar year in which the Tax Reimbursement Payment is to be made, net of the maximum reduction in Federal incomes taxes which could be obtained from the deduction of such state or local taxes if paid in such year.
Appears in 17 contracts
Samples: Employment Agreement (Hartford Financial Services Group Inc/De), Employment Agreement (Hartford Financial Services Group Inc/De), Employment Agreement (Hartford Financial Services Group Inc/De)
Additional Rules. For purposes of determining the amount of the Tax ----------------- Reimbursement Payment, the Executive shall be deemed to pay: (A) Federal income taxes at the highest applicable marginal rate of Federal income taxation for the calendar year in which the Tax Reimbursement Payment is to be made, and (B) any applicable state and local income and other taxes at the highest applicable marginal rate of taxation for the calendar year in which the Tax Reimbursement Payment is to be made, net of the maximum reduction in Federal incomes taxes which could be obtained from the deduction of such state or local taxes if paid in such year.
Appears in 5 contracts
Samples: Employment Agreement (Itt Hartford Group Inc /De), Employment Agreement (Hartford Financial Services Group Inc/De), Employment Agreement (Itt Hartford Group Inc /De)
Additional Rules. For purposes of determining the amount of the Tax Reimbursement Payment, the Executive shall be deemed to pay: pay (A) Federal income taxes at the highest applicable marginal rate of Federal income taxation for the calendar year in which the Tax Reimbursement Payment is to be made, and (B) any applicable state and local income and other taxes at the highest applicable marginal rate of taxation for the calendar year in which the Tax Reimbursement Payment is to be made, net of the maximum reduction in Federal incomes income taxes which could be obtained from the deduction of such state or local taxes if paid in such year.
Appears in 5 contracts
Samples: Compensation and Benefits Assurance Agreement (Jack in the Box Inc /New/), Employment Protection Agreement (Hartford Financial Services Group Inc/De), Key Executive Employment Protection Agreement (Hartford Financial Services Group Inc/De)
Additional Rules. For purposes of determining the amount of the ----------------- Tax Reimbursement Payment, the Executive shall be deemed to pay: pay (A) Federal income taxes at the highest applicable marginal rate of Federal income taxation for the calendar year in which the Tax Reimbursement Payment is to be made, and (B) any applicable state and local income and other taxes at the highest applicable marginal rate of taxation for the calendar year in which the Tax Reimbursement Payment is to be made, net of the maximum reduction in Federal incomes income taxes which could be obtained from the deduction of such state or local taxes if paid in such year.
Appears in 1 contract
Samples: Key Executive (Hartford Financial Services Group Inc/De)
Additional Rules. For purposes of determining the amount of ----------------- the Tax Reimbursement Payment, the Executive shall be deemed to pay: (A) Federal income taxes at the highest applicable marginal rate of Federal income taxation for the calendar year in which the Tax Reimbursement Payment is to be made, and (B) any applicable state and local income and other taxes at the highest applicable marginal rate of taxation for the calendar year in which the Tax Reimbursement Payment is to be made, net of the maximum reduction in Federal incomes taxes which could be obtained from the deduction of such state or local taxes if paid in such year.
Appears in 1 contract
Samples: Employment Agreement (Hartford Financial Services Group Inc/De)
Additional Rules. For purposes of determining the amount of the Tax Reimbursement Payment, the Executive shall be deemed to pay: (A) Federal income taxes at the highest applicable marginal rate of Federal income taxation for the calendar year in which the Tax Reimbursement Payment is to be made, and (B) any applicable state and local income and other taxes at the highest applicable marginal rate of taxation for the calendar year in which the Tax Reimbursement Payment is to be made, net of the maximum reduction in Federal incomes taxes which could be obtained from the deduction of such state or and local taxes if paid in such year.
Appears in 1 contract
Samples: Employment Agreement (Hartford Financial Services Group Inc/De)