Common use of Determination by Independent Accountants Clause in Contracts

Determination by Independent Accountants. To aid the Participant in making any election called for under Section 3.3(a), upon the occurrence of any event that might reasonably be anticipated to give rise to the application of Section 3.2 (an “Event”), the Company shall promptly request a determination in writing by independent public accountants selected by the Company (the “Accountants”). Unless the Company and the Participant otherwise agree in writing, the Accountants shall determine and report to the Company and the Participant within twenty (20) days of the date of the Event the amount of such acceleration of vesting, payments and benefits which would produce the greatest after-tax benefit to the Participant. For the purposes of such determination, the Accountants may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and the Participant shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make their required determination. The Company shall bear all fees and expenses the Accountants may reasonably charge in connection with their services contemplated by this Section 3.3(b).

Appears in 2 contracts

Samples: Restricted Stock Agreement (Granite Construction Inc), Nonstatutory Stock Option Agreement (Adobe Systems Inc)

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Determination by Independent Accountants. To aid the Participant in making any election called for under Section 3.3(a4.2(a), upon the occurrence of any event that might reasonably be anticipated to give rise to the application acceleration of Section 3.2 vesting (an “Event”), the Company shall promptly request a determination in writing by independent public accountants selected by the Company (the “Accountants”). Unless the Company and the Participant otherwise agree in writing, the Accountants shall determine and report to the Company and the Participant within twenty (20) days of the date of the Event the amount of such acceleration of vesting, payments and benefits which would produce the greatest after-tax benefit to the Participant. For the purposes of such determination, the Accountants may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and the Participant shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make their required determination. The Company shall bear all fees and expenses the Accountants may reasonably charge in connection with their services contemplated by this Section 3.3(b4.2(b).

Appears in 1 contract

Samples: Restricted Stock Agreement (Cytori Therapeutics, Inc.)

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Determination by Independent Accountants. To aid the Participant in making any election called for under Section 3.3(a15.2(a), upon no later than the date of the occurrence of any event that might reasonably be anticipated to give rise result in an “excess parachute payment” to the application of Participant as described in Section 3.2 (an “Event”15.2(a), the Company shall promptly request a determination in writing by independent public accountants selected by the Company (the “Accountants”). Unless the Company and the Participant otherwise agree in writingAs soon as practicable thereafter, the Accountants shall determine and report to the Company and the Participant within twenty (20) days of the date of the Event the amount of such acceleration of vesting, payments and benefits which would produce the greatest after-tax benefit to the Participant. For the purposes of such determination, the Accountants may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and the Participant shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make their required determination. The Company shall bear all fees and expenses the Accountants may reasonably charge in connection with their services contemplated by this Section 3.3(b15.2(b).

Appears in 1 contract

Samples: Stock Option Agreement (Pernix Group, Inc.)

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