Common use of California State Income Taxes Clause in Contracts

California State Income Taxes. During the Employment Term, the Company and Executive hereby agree to take all reasonable precautions to ensure that no amount payable to Executive under this Agreement is subject to California state income tax. If the Company pays Executive an amount under this Agreement that is determined to be subject to California state income tax (any such payment, a “CA Taxable Payment”), then the Company will pay Executive an additional amount (a “Gross-Up Payment”) such that the net amount retained by Executive, after deduction of any California state income tax on the amount, and any Federal, state and local income and employment taxes on the Gross-Up Payment, equals the CA Taxable Payment. Any determination required under this Section 9.3 will be made in good faith by the Company.

Appears in 3 contracts

Samples: Executive Employment Agreement (Berry Corp (Bry)), Executive Employment Agreement (Berry Petroleum Corp), Executive Employment Agreement (Berry Petroleum Corp)

AutoNDA by SimpleDocs

California State Income Taxes. During the Employment Term, the Company and Executive hereby agree to take all reasonable precautions to ensure that no amount payable to Executive under this Agreement is subject to California state income tax. If the Company pays Executive an amount under this Agreement that is determined to be subject to California state income tax (any such payment, a “CA Taxable Payment”), then the Company will pay Executive an additional amount (a “Gross-Up Payment”) such that the net amount retained by Executive, after deduction of any California state income tax on the amount, and any Federal, state and local income and employment taxes on the Gross-Up Payment, equals the CA Taxable Payment. Any Except as otherwise provided in a written agreement between the Company and Executive, any determination required under this Section 9.3 will be made in good faith by the CompanyCompany and agreed to by Executive.

Appears in 3 contracts

Samples: Executive Employment Agreement (Berry Corp (Bry)), Executive Employment Agreement (Berry Corp (Bry)), Executive Employment Agreement (Berry Corp (Bry))

California State Income Taxes. During the Employment Term, the Company and Executive hereby agree to take all reasonable precautions to ensure that no amount payable to Executive under this Agreement is subject to California state income tax. If the Company pays Executive an amount under this Agreement that is determined to be subject to California state income tax (any such payment, a “CA Taxable Payment”), then the Company will pay Executive an additional amount (a “Gross-Up Payment”) such that the net amount retained by Executive, after deduction of any California state income tax on the amount, and any Federal, state and local income and employment taxes on the Gross-Up Payment, equals the CA Taxable Payment. Any Except as otherwise provided in a written agreement between the Company and Executive, any determination required under this Section 9.3 will be made in good faith by the Company, and agreed to by Executive.

Appears in 2 contracts

Samples: Executive Employment Agreement (Berry Corp (Bry)), Executive Employment Agreement (Berry Petroleum Corp)

California State Income Taxes. During the Employment Term, the Company and Executive Employee hereby agree to take all reasonable precautions to ensure that no amount payable to Executive Employee under this Agreement is subject to California state income tax. If the Company pays Executive Employee an amount under this Agreement that is determined to be subject to California state income tax (any such payment, a “CA Taxable Payment”), then the Company will pay Executive Employee an additional amount (a “Gross-Up Payment”) such that the net amount retained by ExecutiveEmployee, after deduction of any California state income tax on the amount, and any Federal, state and local income and employment taxes on the Gross-Up Payment, equals the CA Taxable Payment. Any Except as otherwise provided in a written agreement between the Company and Employee, any determination required under this Section 9.3 7.15 will be made in good faith by the CompanyCompany and agreed to by Executive.

Appears in 1 contract

Samples: Employment Agreement (Berry Corp (Bry))

AutoNDA by SimpleDocs

California State Income Taxes. During the Employment Term, the Company and Executive hereby agree to take all reasonable precautions to ensure that no amount payable to Executive under this Agreement is subject to California state income tax. If the Company pays Executive an amount under this Agreement that is determined to be subject to California state income tax (any such payment, a “CA Taxable Payment”), then the Company will pay Executive an additional amount (a “Gross-Up Payment”) such that the net amount retained by Executive, after deduction of any California state income tax on the amount, and any Federal, state and local income and employment taxes on the Gross-Up Payment, equals the CA Taxable Payment. Any Except as otherwise provided in a written agreement between the Company and Executive, any determination required under this Section 9.3 9.4 will be made in good faith by the Company, and agreed to by Executive.

Appears in 1 contract

Samples: Executive Employment Agreement (Berry Petroleum Corp)

California State Income Taxes. During the Employment Term, the Company and Executive hereby agree to take all reasonable precautions to ensure that no amount payable to Executive under this Agreement is subject to California state income tax. If the Company pays Executive an amount under this Agreement that is determined to be subject to California state income tax (any such payment, a “CA Taxable Payment”), then the Company will pay Executive an additional amount (a “Gross-Up Payment”) such that the net amount retained by Executive, after deduction of any California state income tax on the amount, and any Federal, state and local income and employment taxes on the Gross-Up Payment, equals the CA Taxable Payment. Any Except as otherwise provided in a written agreement between the Company and Executive, any determination required under this Section 9.3 8 will be made in good faith by the Company, and agreed to by Executive.

Appears in 1 contract

Samples: Executive Chair Agreement (Berry Corp (Bry))

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!