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

Excise Tax Gross-Up Payment. If Executive’s employment is terminated by the Company without Cause after a Change in Control and Executive becomes subject to the excise tax imposed by Internal Revenue Code (“Code”) Section 4999 (the “Parachute Excise Tax”) with respect to any amounts paid or payable to Executive under this Agreement, then the Company and Executive agree that:

Excise Tax Gross-Up Payment. If Executive’s employment is terminated by the Company without Cause within 18 months after a Change in Control and Executive becomes subject to the excise tax imposed by Internal Revenue Code (“Code”) Section 4999 (the “Parachute Excise Tax”) with respect to any amounts paid or payable to Executive under this Agreement, then the Company and Executive agree that:

Excise Tax Gross-Up Payment. If Executive’s employment is terminated by the Company without Cause within 18 months after a Change in Control and Executive becomes subject to the excise tax imposed by Internal Revenue Code (“Code”) IRC Section 4999 (the “Parachute Excise Tax”) with respect to any amounts paid or payable to Executive under this Agreement, then the Company and Executive agree that: