Common use of Excise Tax Gross-Up Payment Clause in Contracts

Excise Tax Gross-Up Payment. If Executive is entitled to receive payments and benefits under this Agreement pursuant to Section 4 and/or Section 5, and if, when combined with the payments and benefits Executive is entitled to receive under any other plan, program or arrangement of Company or an Affiliate, Executive would be subject to excise tax under Section 4999 of the Code, then Company shall make additional payments to Executive so that, on an after-tax basis, Executive is placed in the same economic position in which he would have been if no excise tax were payable by him and no payments were required to be made to him under this Section 6.

Excise Tax Gross-Up Payment. If Executive is entitled to receive payments and benefits under this Agreement pursuant to Section 4 and/or Section 5, and if, when combined with the payments and benefits Executive is entitled to receive under any other plan, program or arrangement of Company or an Affiliatearrangement, Executive would be subject to excise tax under Section 4999 of the Code, then Company shall make additional payments to Executive so that, on an after-tax basis, Executive is placed in the same economic position in which he would have been if no excise tax were payable by him and no payments were required to be made to him under this Section 6him.

Excise Tax Gross-Up Payment. If Executive is entitled to receive payments and benefits under this Agreement pursuant to Section 4 and/or Section 5, and if, when combined with the payments and benefits Executive is entitled to receive under any other plan, program or arrangement of Company or an Affiliatearrangement, Executive would be subject to excise tax under Section 4999 of the Code, then Company shall make additional payments to Executive so that, on an after-tax basis, Executive is placed in the same economic position in which he would have been if no excise tax were payable by him and no payments were required to be made to him under this Section 6numbered paragraph 4.

Excise Tax Gross-Up Payment. If Executive is entitled to receive payments and benefits under this Agreement pursuant to Section 4 and/or Section 5, and if, when combined with the payments and benefits Executive is entitled to receive under any other plan, program or arrangement of Company or an Affiliatearrangement, Executive would be subject to excise tax under Section 4999 of the Code, then Company shall make additional payments to Executive so that, on an after-tax basis, Executive is placed in the same economic position in which he would have been if no excise tax were payable by him and no payments were required to be made to him under this Section 6numbered paragraph 3.