AMOUNT OF GROSS-UP PAYMENTS. (1) The Gross-Up Payments shall be in an amount such that the net amount retained by Executive with respect to the Parachute Payments and Gross-Up Payments, after deduction of any Excise Tax to which the Parachute Payments may be subject and any federal, state, and local income taxes and Excise Tax upon the Gross-Up Payments, shall be equal to the gross amount of the Parachute Payments.
Appears in 12 contracts
Samples: Employment Agreement (Cpi Corp), Employment Agreement (Cpi Corp), Employment Agreement (Cpi Corp)
AMOUNT OF GROSS-UP PAYMENTS. (1i) The Gross-Up Payments shall be in an amount such that the net amount retained by Executive with respect to the Parachute Payments and Gross-Up Payments, after deduction of any Excise Tax to which the Parachute Payments may be subject and any federal, state, and local income taxes and Excise Tax upon the Gross-Up Payments, shall be equal to the gross amount of the Parachute Payments.
Appears in 2 contracts
Samples: Employment Agreement (Cpi Corp), Employment Agreement (Cpi Corp)
