Amount Increased or Contested. (a) The Executive shall notify the Company in writing (an “Executive’s Notice”) of any claim by the IRS or other taxing authority (an “IRS Claim”) that, if successful, would require the payment by the Executive of Excise Taxes in respect of Potential Parachute Payments in an amount in excess of the amount of such Excise Taxes determined in accordance with Section 5.1. Such Executive’s Notice shall include a copy of all notices and other documents or correspondence received by the Executive in respect of such IRS Claim. The Executive shall give the Executive’s Notice as soon as practicable. If before the deadline for a response to the IRS (“IRS Claim Deadline”), the Company shall:
Appears in 2 contracts
Samples: Change in Control Agreement (Cornerstone Realty Income Trust Inc), Change in Control Agreement (Cornerstone Realty Income Trust Inc)
Amount Increased or Contested. (a) The Executive shall notify the Company in writing (an “"Executive’s 's Notice”") of any claim by the IRS or other taxing authority (an “"IRS Claim”") that, if successful, would require the payment by the Executive of Excise Taxes in respect of Potential Parachute Payments in an amount in excess of the amount of such Excise Taxes determined in accordance with Section 5.16.1. Such Executive’s 's Notice shall include a copy of all notices and other documents or correspondence received by the Executive in respect of such IRS Claim. The Executive shall give the Executive’s 's Notice as soon as practicable. If before the deadline for a response to the IRS (“"IRS Claim Deadline”"), the Company shall:
Appears in 2 contracts
Samples: Employment Continuity Agreement (Dominion Resources Inc /Va/), Employment Continuity Agreement (Virginia Electric & Power Co)
Amount Increased or Contested. (a) The Executive shall notify the Company in writing (an “"Executive’s 's Notice”") of any claim by the IRS or other taxing authority (an “"IRS Claim”") that, if successful, would require the payment by the Executive of Excise Taxes in respect of Potential Parachute Payments in an amount in excess of the amount of such Excise Taxes determined in accordance with Section 5.16.1. Such Executive’s 's Notice shall include a copy of all notices and other documents or correspondence received by the Executive in respect of such IRS Claim. The Executive shall give the Executive’s 's Notice as soon as practicable. If before the deadline for a response to the IRS (“"IRS Claim Deadline”"), the Company shall:
Appears in 2 contracts
Samples: Employment Continuity Agreement (Dominion Resources Inc /Va/), Employment Continuity Agreement (Virginia Electric & Power Co)
