Common use of Certain Additional Payment by the Company Clause in Contracts

Certain Additional Payment by the Company. (i) Anything in this Agreement to the contrary notwithstanding, in the event that any payment or distribution by the Company or any member of the Company Group to or for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement, any stock option, restricted stock agreement or otherwise, but determined without regard to any additional payments required under this Section 8(g)) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be entitled to receive an additional payment (a “Gross Up Payment”) in an amount such that after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross Up Payment, the Executive retains an amount of the Gross Up Payment equal to the Excise Tax imposed upon the Payment.

Appears in 4 contracts

Samples: Employment Agreement (Fsi International Inc), Employment Agreement (Fsi International Inc), Employment Agreement (Fsi International Inc)

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Certain Additional Payment by the Company. (i) A. Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that Paragraph 5 does not apply and that any payment or distribution by the Company or any member of the Company Group Subsidiary to or for the benefit of the Executive Employee (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement, any stock option, restricted stock agreement or otherwise, but determined without regard to any additional payments required under this Section 8(g)Paragraph 4) (a "Payment") would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Executive Employee with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the "Excise Tax"), then the Executive Employee shall be entitled to receive an additional payment (a “Gross "Gross-Up Payment") in an amount such that after payment by the Executive Employee of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross Gross-Up Payment, the Executive Employee retains an amount of the Gross Gross-Up Payment equal to the Excise Tax imposed upon the Payment.

Appears in 1 contract

Samples: Management Agreement (Fsi International Inc)

Certain Additional Payment by the Company. (iA) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that Paragraph 5 does not apply and that any payment or distribution by the Company or any member of the Company Group Subsidiary to or for the benefit of the Executive Employee (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement, any stock option, restricted stock agreement or otherwise, but determined without regard to any additional payments required under this Section 8(g)Paragraph 4) (a "Payment") would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Executive Employee with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the "Excise Tax"), then the Executive Employee shall be entitled to receive an additional payment (a “Gross "Gross-Up Payment") in an amount such that after payment by the Executive Employee of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross Gross-Up Payment, the Executive Employee retains an amount of the Gross Gross-Up Payment equal to the Excise Tax imposed upon the Payment.

Appears in 1 contract

Samples: Management Agreement (Fsi International Inc)

Certain Additional Payment by the Company. (ia) Anything in this Employment Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by the Company or any member of the Company Group to or for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this AgreementEmployment Agreement or any other plan, any stock option, restricted stock arrangement or agreement or otherwisewith the Company), but determined without regard to any additional payments required under this Section 8(g9 ("Payment")) (a “Payment”) , would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the "Code") or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the "Excise Tax"), then the Executive shall be entitled to receive an additional payment (a “Gross "Gross-Up Payment") in an amount such that after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross Gross-Up Payment, the Executive retains an amount of the Gross Gross-Up Payment equal to the Excise Tax imposed upon the PaymentPayments.

Appears in 1 contract

Samples: Employment Agreement (Foundation Coal Holdings, Inc.)

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Certain Additional Payment by the Company. (i) A. Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that Section 6 does not apply and that any payment or distribution by the Company or any member of the Company Group Subsidiary to or for the benefit of the Executive Employee (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement, any stock option, restricted stock agreement or otherwise, but determined without regard to any additional payments required under this Section 8(g)5) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Executive Employee with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive Employee shall be entitled to receive an additional payment (a “Gross Gross-Up Payment”) in an amount such that after payment by the Executive Employee of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross Gross-Up Payment, the Executive Employee retains an amount of the Gross Gross-Up Payment equal to the Excise Tax imposed upon the Payment.

Appears in 1 contract

Samples: Management Agreement (Fsi International Inc)

Certain Additional Payment by the Company. (ia) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by the Company or any member of the Company Group to or for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this AgreementAgreement or any other plan, any stock option, restricted stock arrangement or agreement or otherwisewith the Company), but determined without regard to any additional payments required under this Section 8(g9 ("Payment")) (a “Payment”) , would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the "Code") or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the "Excise Tax"), then the Executive shall be entitled to receive an additional payment (a “Gross "Gross-Up Payment") in an amount such that after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross Gross-Up Payment, the Executive retains an amount of the Gross Gross-Up Payment equal to the Excise Tax imposed upon the PaymentPayments.

Appears in 1 contract

Samples: Employment Agreement (Foundation Coal Holdings, Inc.)

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