Common use of Consideration for Executive Clause in Contracts

Consideration for Executive. Executive acknowledges and agrees that Xxxxxxxx Creek has paid Executive all amounts, and has provided Executive with all benefits, to which Executive is entitled through and including the date that Executive executes this Agreement, and that Executive is not entitled to any further payments or benefits, other than as set forth below. Xxxxxxxx Creek will provide Executive with the following additional specified items as consideration in exchange for this Agreement, including Executive's waiver and release of Xxxxxxxx Creek: (a) Upon Executive's execution of this Agreement and upon expiration of the time period for revocation set forth in paragraph 11(e) below, Xxxxxxxx Creek will provide Executive with: [set forth applicable consideration, if any, provided for in the Amended and Restated Employment Agreement, depending on the nature of Executive's termination (e.g., retirement, without cause, change of control, etc.)] (b) Notwithstanding any other provision in this Agreement, if (i) on the date of termination of Executive's employment with Xxxxxxxx Creek, any of Xxxxxxxx Creek's stock is publicly traded on an established securities market or otherwise (within the meaning of U.S. Internal Revenue Code section 409A(a)(2)(B)(i)), and (ii) as a result of such termination, Executive would receive any payment under this Agreement that, absent the application of this provision, would be subject to additional tax imposed pursuant to section 409A(a) of the Code as a result of the application of section 409A(a)(2)(B)(i) of the Code, then such payment shall be payable on the date that is the earliest of (i) six (6) months after Executive's termination date, (ii) Executive's death or (iii) such other date as will not result in such payment being subject to Code section 409A sanctions. (c) It is the intention of the parties that payments or benefits payable under this Agreement not be subject to the additional tax imposed pursuant to section 409A of the Code. To the extent such potential payments or benefits could become subject to such section, Xxxxxxxx Creek shall cooperate to amend the Agreement with the goal of giving the Executive the applicable economic benefits in a manner that does not result in such sanctions being imposed. Xxxxxxxx Creek does not guarantee or warrant that such cooperation will result in such sanctions not being imposed. (d) Except as otherwise permitted under Code section 409A, Xxxxxxxx Creek shall not accelerate or defer any payment under this Agreement. (e) Executive will indemnify and hold Xxxxxxxx Creek harmless from any costs, liability or expense, including reasonable attorney's fees, arising from the taxation, if any, of any amounts received by Executive pursuant to this Agreement, including but not limited to any penalties or administrative expenses.

Consideration for Executive. Executive acknowledges and agrees that Xxxxxxxx Creek has paid Executive all amounts, and has provided Executive with all benefits, to which Executive is entitled through and including the date that Executive executes this Agreement, and that Executive is not entitled to any further payments or benefits, other than as set forth below. Xxxxxxxx Creek will provide Executive with the following additional specified items as consideration in exchange for this Agreement, including Executive's ’s waiver and release of Xxxxxxxx Creek: (a) Upon Executive's ’s execution of this Agreement and upon expiration of the time period for revocation set forth in paragraph 11(e) below, Xxxxxxxx Creek will provide Executive with: [set forth applicable consideration, if any, consideration provided for in the Amended and Restated Employment Agreement, depending on the nature of Executive's ’s termination (e.g., retirement, without cause, change of control, etc.)] (b) Notwithstanding any other provision in this Agreement, if (i) on the date of termination of Executive's ’s employment with Xxxxxxxx Creek, any of Xxxxxxxx Creek's ’s stock is publicly traded on an established securities market or otherwise (within the meaning of U.S. Internal Revenue Code section 409A(a)(2)(B)(i)), and (ii) as a result of such termination, Executive would receive any payment under this Agreement that, absent the application of this provision, would be subject to additional tax imposed pursuant to section 409A(a) of the Code as a result of the application of section 409A(a)(2)(B)(i) of the Code, then such payment shall be payable on the date that is the earliest of (i) six (6) months after Executive's ’s termination date, (ii) Executive's ’s death or (iii) such other date as will not result in such payment being subject to Code section 409A sanctions. (c) It is the intention of the parties that payments or benefits payable under this Agreement not be subject to the additional tax imposed pursuant to section 409A of the Code. To the extent such potential payments or benefits could become subject to such section, Xxxxxxxx Creek shall cooperate to amend the Agreement with the goal of giving the Executive the applicable economic benefits in a manner that does not result in such sanctions being imposed. Xxxxxxxx Creek does not guarantee or warrant that such cooperation will result in such sanctions not being imposed. (d) Except as otherwise permitted under Code section 409A, Xxxxxxxx Creek shall not accelerate or defer any payment under this Agreement. (e) Executive will indemnify and hold Xxxxxxxx Creek harmless from any costs, liability or expense, including reasonable attorney's fees, arising from the taxation, if any, of any amounts received by Executive pursuant to this Agreement, including but not limited to any penalties or administrative expenses.

Consideration for Executive. Executive acknowledges and agrees that Xxxxxxxx Creek has paid Executive all amounts, and has provided Executive with all benefits, to which Executive is entitled through and including the date that Executive executes this Agreement, and that Executive is not entitled to any further payments or benefits, other than as set forth below. Xxxxxxxx Creek will provide Executive with the following additional specified items as consideration in exchange for this Agreement, including Executive's waiver and release of Xxxxxxxx Creek: (a) Upon Executive's execution of this Agreement and upon expiration of the time period for revocation set forth in paragraph 11(e) below, Xxxxxxxx Creek will provide Executive with: [set forth applicable consideration, if any, consideration provided for in the Amended and Restated Employment Agreement, depending on the nature of Executive's termination (e.g., retirement, without cause, change of control, etc.)] (b) Notwithstanding any other provision in this Agreement, if (i) on the date of termination of Executive's employment with Xxxxxxxx Creek, any of Xxxxxxxx Creek's stock is publicly traded on an established securities market or otherwise (within the meaning of U.S. Internal Revenue Code section 409A(a)(2)(B)(i)), and (ii) as a result of such termination, Executive would receive any payment under this Agreement that, absent the application of this provision, would be subject to additional tax imposed pursuant to section 409A(a) of the Code as a result of the application of section 409A(a)(2)(B)(i) of the Code, then such payment shall be payable on the date that is the earliest of (i) six (6) months after Executive's termination date, (ii) Executive's death or (iii) such other date as will not result in such payment being subject to Code section 409A sanctions. (c) It is the intention of the parties that payments or benefits payable under this Agreement not be subject to the additional tax imposed pursuant to section 409A of the Code. To the extent such potential payments or benefits could become subject to such section, Xxxxxxxx Creek shall cooperate to amend the Agreement with the goal of giving the Executive the applicable economic benefits in a manner that does not result in such sanctions being imposed. Xxxxxxxx Creek does not guarantee or warrant that such cooperation will result in such sanctions not being imposed. (d) Except as otherwise permitted under Code section 409A, Xxxxxxxx Creek shall not accelerate or defer any payment under this Agreement. (e) Executive will indemnify and hold Xxxxxxxx Creek harmless from any costs, liability or expense, including reasonable attorney's fees, arising from the taxation, if any, of any amounts received by Executive pursuant to this Agreement, including but not limited to any penalties or administrative expenses.

Consideration for Executive. Executive acknowledges and agrees that Xxxxxxxx Creek has paid Executive all amounts, and has provided Executive with all benefits, to which Executive is entitled through and including the date that Executive executes this Agreement, and that Executive is not entitled to any further payments or benefits, other than as set forth below. Xxxxxxxx Creek will provide Executive with the following additional specified items as consideration in exchange for this Agreement, including Executive's ’s waiver and release of Xxxxxxxx Creek: (a) Upon Executive's ’s execution of this Agreement and upon expiration of the time period for revocation set forth in paragraph 11(e) below, Xxxxxxxx Creek will provide Executive with: [set forth applicable consideration, if any, consideration provided for in the Amended and Restated Employment Agreement, depending on the nature of Executive's ’s termination (e.g., retirement, without cause, change of control, etc.)] (b) Notwithstanding any other provision in this Agreement, if (i) on the date of termination of Executive's ’s employment with Xxxxxxxx Creek, any of Xxxxxxxx Creek's ’s stock is publicly traded on an established securities market or otherwise (within the meaning of U.S. Internal Revenue Code section 409A(a)(2)(B)(i)), and (ii) as a result of such termination, Executive would receive any payment under this Agreement that, absent the application of this provision, would be subject to additional tax imposed pursuant to section 409A(a) of the Code as a result of the application of section 409A(a)(2)(B)(i) of the Code, then such payment shall be payable on the date that is the earliest of (i) six (6) months after Executive's ’s termination date, (ii) Executive's ’s death or (iii) such other date as will not result in such payment being subject to Code section 409A sanctions. (c) It is the intention of the parties that payments or benefits payable under this Agreement not be subject to the additional tax imposed pursuant to section 409A of the Code. To the extent such potential payments or benefits could become subject to such section, Xxxxxxxx Creek shall cooperate to amend the Agreement with the goal of giving the Executive the applicable economic benefits in a manner that does not result in such sanctions being imposed. Xxxxxxxx Creek does not guarantee or warrant that such cooperation will result in such sanctions not being imposed. (d) Except as otherwise permitted under Code section 409A, Xxxxxxxx Creek shall not accelerate or defer any payment under this Agreement. (e) Executive will indemnify and hold Xxxxxxxx Creek harmless from any costs, liability or expense, including reasonable attorney's ’s fees, arising from the taxation, if any, of any amounts received by Executive pursuant to this Agreement, including but not limited to any penalties or administrative expenses.

Consideration for Executive. Executive acknowledges and agrees that Xxxxxxxx Creek has paid Executive all amounts, and has provided Executive with all benefits, to which Executive is entitled through and including the date that Executive executes this Agreement, and that Executive is not entitled to any further payments or benefits, other than as set forth below. Xxxxxxxx Creek will provide Executive with the following additional specified items as consideration in exchange for this Agreement, including Executive's ’s waiver and release of Xxxxxxxx Creek: (a) Upon Executive's ’s execution of this Agreement and upon expiration of the time period for revocation set forth in paragraph 11(e) below, Xxxxxxxx Creek will provide Executive with: [set forth applicable consideration, if any, consideration provided for in the Amended and Restated Employment Agreement, depending on the nature of Executive's ’s termination (e.g., retirement, without cause, change of control, etc.)] (b) Notwithstanding any other provision in this Agreement, if (i) on the date of termination of Executive's ’s employment with Xxxxxxxx Creek, any of Xxxxxxxx Creek's ’s stock is publicly traded on an established securities market or otherwise (within the meaning of U.S. Internal Revenue Code section 409A(a)(2)(B)(i)), and (ii) as a result of such termination, Executive would receive any payment under this Agreement that, absent the application of this provision, would be subject to additional tax imposed pursuant to section 409A(a) of the Code as a result of the application of section 409A(a)(2)(B)(i) of the Code, then such payment shall be payable on the date that is the earliest of (i) six (6) months after Executive's ’s termination date, (ii) Executive's ’s death or (iii) such other date as will not result in such payment being subject to Code section 409A sanctions. (c) It is the intention of the parties that payments or benefits payable under this Agreement not be subject to the additional tax imposed pursuant to section 409A of the Code. To the extent such potential payments or benefits could become subject to such section, Xxxxxxxx Creek shall cooperate to amend the Agreement with the goal of giving the Executive the applicable economic benefits in a manner that does not result in such sanctions being imposed. Xxxxxxxx Creek does not guarantee or warrant that such cooperation will result in such sanctions not being imposed. (d) Except as otherwise permitted under Code section 409A, Xxxxxxxx Creek shall not accelerate or defer any payment under this Agreement. (e) Executive will indemnify and hold Xxxxxxxx Creek harmless from any costs, liability or expense, including reasonable attorney's ’s fees, arising from the taxation, if any, of any amounts received by Executive pursuant to this Agreement, including but not limited to any penalties or administrative expenses.

Consideration for Executive. Executive acknowledges and agrees that Xxxxxxxx Creek has paid Executive all amounts, and has provided Executive with all benefits, to which Executive is entitled through and including the date that Executive executes this Agreement, and that Executive is not entitled to any further payments or benefits, other than as set forth below. Xxxxxxxx Creek will provide Executive with the following additional specified items as consideration in exchange for this Agreement, including Executive's ’s waiver and release of Xxxxxxxx Creek: (a) Upon Executive's ’s execution of this Agreement and upon expiration of the time period for revocation set forth in paragraph 11(e) below, Xxxxxxxx Creek will provide Executive with: [set forth applicable consideration, if any, consideration provided for in the Amended and Restated Employment Agreement, depending on the nature of Executive's ’s termination (e.g., retirement, without cause, change of control, etc.)] (b) Notwithstanding any other provision in this Agreement, if (i) on the date of termination of Executive's ’s employment with Xxxxxxxx Creek, any of Xxxxxxxx Creek's ’s stock is publicly traded on an established securities market or otherwise (within the meaning of U.S. Internal Revenue Code section 409A(a)(2)(B)(i)), and (ii) as a result of such termination, Executive would receive any payment under this Agreement that, absent the application of this provision, would be subject to additional tax imposed pursuant to section 409A(a) of the Code as a result of the application of section 409A(a)(2)(B)(i) of the Code, then such payment shall be payable on the date that is the earliest of (i) six (6) months after Executive's ’s termination date, (ii) Executive's ’s death or (iii) such other date as will not result in such payment being subject to Code section 409A sanctions. (c) It is the intention of the parties that payments or benefits payable under this Agreement not be subject to the additional tax imposed pursuant to section 409A of the Code. To the extent such potential payments or benefits could become subject to such section, Xxxxxxxx Creek shall cooperate to amend the Agreement with the goal of giving the Executive the applicable economic benefits in a manner that does not result in such sanctions being imposed. Xxxxxxxx Creek does not guarantee or warrant that such cooperation will result in such sanctions not being imposed. (d) Except as otherwise permitted under Code section 409A, Xxxxxxxx Creek shall not accelerate or defer any payment under this Agreement. (e) Executive will indemnify and hold Xxxxxxxx Creek harmless from any costs, liability or expense, including reasonable attorney's fees, arising from the taxationtaxation owed by Executive in his individual capacity, if any, of any amounts received by Executive pursuant to this Agreement, including but not limited to any penalties or administrative expenses.