Common use of Excise Tax Indemnification Clause in Contracts

Excise Tax Indemnification. The Executive shall be entitled to a payment under this Section 11(e) if any payment or benefit provided under this Agreement or any other plan or agreement with the Company constitutes a “parachute payment” (as defined in Section 280G(b)(2)(A) of the Internal Revenue Code of 1986 (the “Code”), but without regard to Code Section 280G(b)(2)(A)(ii)) and the Executive incurs a liability under Code Section 4999. The amount payable to the Executive under this Section 11(e) shall be the amount required to indemnify the Executive and hold him harmless from the application of Code Sections 280G and 4999 with respect to benefits, payments, accelerated vesting and exercisability and other rights under this Agreement or otherwise, and any income, employment, hospitalization, excise and other taxes attributable to the indemnification payment. Except as required by Section 12, the benefit payable under this Section 11(e) shall be calculated and paid not later than the date (or extended filing date) on which the tax return reflecting liability for the Code Section 4999 excise tax is required to be filed with the Internal Revenue Service. To the extent that any other plan or agreement requires that the Executive be indemnified and held harmless from the application of Code Sections 280G and 4999, any such indemnification and the amount required to be paid to the Executive under this Section 11(e) shall be coordinated so that such indemnification is paid only once and the Company’s obligations under this Section 11(e) shall be satisfied to the extent of any such other payment (and vice versa). The Executive shall be entitled to the benefit described in this Section 11(e) without regard to whether he becomes entitled to receive the benefits described in Section 11(a).

Excise Tax Indemnification. The Executive shall be entitled to a payment under this Section 11(e) Agreement if any payment or benefit provided under this Agreement or any other plan or agreement with the Company constitutes a “parachute payment” (as defined in Section 280G(b)(2)(A) of the Internal Revenue Code of 1986 (the “Code”), but without regard to Code Section 280G(b)(2)(A)(ii)) and the Executive incurs a liability under Code Section 4999. The amount payable to the Executive under this Section 11(e) 4 shall be the amount required to indemnify the Executive and hold him harmless from the application of Code Sections 280G and 4999 with respect to benefits, payments, accelerated exercisability and vesting and exercisability and other rights under this Agreement or otherwise, and any income, employment, hospitalization, excise and other taxes attributable to the indemnification payment. Except as required by Section 12, the The benefit payable under this Section 11(e) 4 shall be calculated and paid not later than the date (or extended filing date) on which the tax return reflecting liability for the Code Section 4999 excise tax is required to be filed with the Internal Revenue Service. To the extent that any other plan or agreement requires that the Executive be indemnified and held harmless from the application of Code Sections 280G and 4999, any such indemnification and the amount required to be paid to the Executive under this Section 11(e) 4 shall be coordinated so that such indemnification is paid only once and the Company’s obligations under this Section 11(e) 4 shall be satisfied to the extent of any such other payment (and vice versa). The Executive shall be entitled to the benefit described in this Section 11(e) 4 without regard to whether he becomes entitled to receive the benefits Termination Benefits described in Section 11(a)3.

Excise Tax Indemnification. The Executive shall be entitled to a payment under this Section 11(e) Agreement if any payment or benefit provided under this Agreement or any other plan or agreement with the Company or the REIT constitutes a “"parachute payment” " (as defined in Section 280G(b)(2)(A) of the Internal Revenue Code of 1986 (the “"Code”"), but without regard to Code Section 280G(b)(2)(A)(ii)) and the Executive incurs a liability under Code Section 4999. The amount payable to the Executive under this Section 11(e) 5 shall be the amount required to indemnify the Executive and hold him harmless from the application of Code Sections 280G and 4999 with respect to benefits, payments, accelerated exercisability and vesting and exercisability and other rights under this Agreement or otherwise, and any income, employment, hospitalization, excise and other taxes attributable to the indemnification payment. Except as required by Section 12, the The benefit payable under this Section 11(e) 5 shall be calculated and paid not later than the date (or extended filing date) on which the tax return reflecting liability for the Code Section 4999 excise tax is required to be filed with the Internal Revenue Service. To the extent that any other plan or agreement requires that the Executive be indemnified and held harmless from the application of Code Sections 280G and 4999, any such indemnification and the amount required to be paid to the Executive under this Section 11(e) 5 shall be coordinated so that such indemnification is paid only once and the REIT's and the Company’s 's obligations under this Section 11(e) 5 shall be satisfied to the extent of any such other payment (and vice versa). The Executive shall be entitled to the benefit described in this Section 11(e) 5 without regard to whether he becomes entitled to receive the benefits Termination Benefits described in Section 11(a)4.

Excise Tax Indemnification. The Executive shall be entitled to a payment under this Section 11(e) 6 if any payment or benefit provided under this Agreement or any other plan or agreement with the Company constitutes a “parachute payment” (as defined in Section 280G(b)(2)(A) of the Internal Revenue Code of 1986 (the “Code”), but without regard to Code Section 280G(b)(2)(A)(ii)) and the Executive incurs a liability under Code Section 4999. The amount payable to the Executive under this Section 11(e) 6 shall be the amount required to indemnify the Executive and hold him harmless from the application of Code Sections 280G and 4999 with respect to benefits, payments, accelerated exercisability and vesting and exercisability and other rights under this Agreement or otherwise, and any income, employment, hospitalization, excise and other taxes attributable to the indemnification payment. Except as required by Section 12, the The benefit payable under this Section 11(e) 6 shall be calculated and paid not later than the date (or extended filing date) on which the tax return reflecting liability for the Code Section 4999 excise tax is required to be filed with the Internal Revenue Service. To the extent that any other plan or agreement requires that the Executive be indemnified and held harmless from the application of Code Sections 280G and 4999, any such indemnification and the amount required to be paid to the Executive under this Section 11(e) 6 shall be coordinated so that such indemnification is paid only once and the Company’s obligations under this Section 11(e) 6 shall be satisfied to the extent of any such other payment (and vice versa). The Executive shall be entitled to the benefit described in this Section 11(e) 6 without regard to whether he becomes entitled to receive the benefits Termination Benefits described in Section 11(a)4.