Common use of Amount Increased or Contested Clause in Contracts

Amount Increased or Contested. The Executive shall notify KCSI in writing of any claim by the IRS or other taxing authority that, if successful, would require the payment by KCSI of a Gross-up Payment. Such notice shall include the nature of such claim and the date on which such claim is due to be paid. The Executive shall give such notice as soon as practicable, but no later than 10 business days, after the Executive first obtains actual knowledge of such claim; provided, however, that any failure to give or delay in giving such notice shall affect KCSI's obligations under this Paragraph 7 only if and to the extent that such failure results in actual prejudice to KCSI. The Executive shall not pay such claim less than 30 days after the Executive gives such notice to KCSI (or, if sooner, the date on which payment of such claim is due). If KCSI notifies the Executive in writing before the expiration of such period that it desires to contest such claim, the Executive shall:

Appears in 8 contracts

Samples: Employment Agreement (Kansas City Southern Industries Inc), Employment Agreement (Kansas City Southern), Employment Agreement (Kansas City Southern Industries Inc)

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Amount Increased or Contested. The Executive shall notify KCSI in writing of any claim by the IRS or other taxing authority that, if successful, would require the payment by KCSI of a Gross-up Payment. Such notice shall include the nature of such claim and the date on which such claim is due to be paid. The Executive shall give such notice as soon as practicable, but no later than 10 business days, after the Executive first obtains actual knowledge of such claim; provided, however, that any failure to give or delay in giving such notice shall affect KCSI's ’s obligations under this Paragraph 7 only if and to the extent that such failure results in actual prejudice to KCSI. The Executive shall not pay such claim less than 30 days after the Executive gives such notice to KCSI (or, if sooner, the date on which payment of such claim is due). If KCSI notifies the Executive in writing before the expiration of such period that it desires to contest such claim, the Executive shall:

Appears in 3 contracts

Samples: Employment Agreement (Kansas City Southern), Employment Agreement (Kansas City Southern), Employment Agreement (Kansas City Southern)

Amount Increased or Contested. The Executive shall notify KCSI KCS in writing of any claim by the IRS or other taxing authority that, if successful, would require the payment by KCSI KCS of a Gross-up Payment. Such notice shall include the nature of such claim and the date on which such claim is due to be paid. The Executive shall give such notice as soon as practicable, but no later than 10 business days, after the Executive first obtains actual knowledge of such claim; provided, however, that any failure to give or delay in giving such notice shall affect KCSI's KCS’s obligations under this Paragraph 7 only if and to the extent that such failure results in actual prejudice to KCSIKCS. The Executive shall not pay such claim less than 30 days after the Executive gives such notice to KCSI KCS (or, if sooner, the date on which payment of such claim is due). If KCSI KCS notifies the Executive in writing before the expiration of such period that it desires to contest such claim, the Executive shall:

Appears in 2 contracts

Samples: Employment Agreement (Kansas City Southern), Employment Agreement (Kansas City Southern)

Amount Increased or Contested. The Executive shall notify KCSI in ----------------------------- writing of any claim by the IRS or other taxing authority that, if successful, would require the payment by KCSI of a Gross-up Payment. Such notice shall include the nature of such claim and the date on which such claim is due to be paid. The Executive shall give such notice as soon as practicable, but no later than 10 business days, after the Executive first obtains actual knowledge of such claim; provided, however, that any failure to give or delay in giving such notice shall affect KCSI's obligations under this Paragraph 7 only if and to the extent that such failure results in actual prejudice to KCSI. The Executive shall not pay such claim less than 30 days after the Executive gives such notice to KCSI (or, if sooner, the date on which payment of such claim is due). If KCSI notifies the Executive in writing before the expiration of such period that it desires to contest such claim, the Executive shall:

Appears in 1 contract

Samples: Employment Agreement (Kansas City Southern Industries Inc)

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Amount Increased or Contested. The Executive shall notify KCSI KCSL in writing of any claim by the IRS or other taxing authority that, if successful, would require the payment by KCSI KCSL of a Gross-up Payment. Such notice shall include the nature of such claim and the date on which such claim is due to be paid. The Executive shall give such notice as soon as practicable, but no later than 10 business days, after the Executive first obtains actual knowledge of such claim; provided, however, that any failure to give or delay in giving such notice shall affect KCSIKCSL's obligations under this Paragraph 7 only if and to the extent that such failure results in actual prejudice to KCSIKCSL. The Executive shall not pay such claim less than 30 days after the Executive gives such notice to KCSI KCSL (or, if sooner, the date on which payment of such claim is due). If KCSI KCSL notifies the Executive in writing before the expiration of such period that it desires to contest such claim, the Executive shall:

Appears in 1 contract

Samples: Employment Agreement (Kansas City Southern Industries Inc)

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