Common use of Excise Tax Payment Clause in Contracts

Excise Tax Payment. If any portion of the Severance Benefits or any other payment under this Agreement, or under any other agreement with, or plan of the Company (in the aggregate, “Total Payments”) would constitute an “excess parachute payment,” such that a golden parachute excise tax is due, the Company shall provide to the Executive, in cash, an additional payment in an amount sufficient to cover the full cost of any excise tax and all of the Executive’s additional state and federal income, excise, and employment taxes that arise on this additional payment (cumulatively, the “Full Gross-Up Payment”), such that the Executive is in the same after-tax position as if he had not been subject to the excise tax. For this purpose, the Executive shall be deemed to be in the highest marginal rate of federal and state taxes. This payment shall be made as soon as possible following the date of the Executive’s Qualifying Termination, but in no event later than ten (10) calendar days from such date. For purposes of this Agreement, the term “excess parachute payment” shall have the meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the “Code”), and the term “excise tax” shall mean the tax imposed on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.

Excise Tax Payment. If any portion of the Severance Benefits or any other payment under this Restated Agreement, or under any other agreement with, or plan of the Company (in the aggregate, “"Total Payments”") would constitute an “"excess parachute payment,” " such that a golden parachute excise tax is due, the Company shall provide to the Executive, in cash, an additional payment in an amount sufficient to cover the full cost of any excise tax and all of the Executive’s 's additional state and federal income, excise, and employment taxes that arise on this additional payment (cumulatively, the “"Full Gross-Up Payment”"), such that the Executive is in the same after-tax position as if he had not been subject to the excise tax. For this purpose, the Executive shall be deemed to be in the highest marginal rate of federal and state taxes. This payment shall be made as soon as possible at the time the taxes are remitted to the tax authorities but no later than the close of the calendar year following the date of calendar year in which the Executive’s Qualifying Termination, but in no event later than ten (10) calendar days from such datetaxes are remitted to the tax authorities. For purposes of this Restated Agreement, the term “"excess parachute payment” " shall have the meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the “Code”), and the term “"excise tax” " shall mean the tax imposed on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.

Excise Tax Payment. If any portion of the Severance Benefits or any other payment under this Agreement, or under any other agreement with, or plan of the Company (in the aggregate, “Total Payments”) would constitute an “excess parachute payment,” such that a golden parachute excise tax is due, the Company shall provide to the Executive, in cash, an additional payment in an amount sufficient to cover the full cost of any excise tax and all of the Executive’s additional state and federal income, excise, and employment taxes that arise on this additional payment (cumulatively, the “Full Gross-Up Payment”), such that the Executive is in the same after-tax position as if he or she had not been subject to the excise tax. For this purpose, the Executive shall be deemed to be in the highest marginal rate of federal and state taxes. This payment shall be made as soon as possible following the date of the Executive’s Qualifying Termination, but in no event later than ten (10) calendar days from such date. For purposes of this Agreement, the term “excess parachute payment” shall have the meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the “Code”), and the term “excise tax” shall mean the tax imposed on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.

Excise Tax Payment. If any portion of the Severance Benefits or any other payment under this Agreement, or under any other agreement with, or plan of the Company (in the aggregate, “Total Payments”) would constitute an “excess parachute payment,” such that a golden parachute excise tax is due, the Company shall provide to the Executive, in cash, an additional payment in an amount sufficient to cover the full cost of any excise tax and all of the Executive’s additional state and federal income, excise, and employment taxes that arise on this additional payment (cumulatively, the “Full Gross-Up Payment”), such that the Executive is in the same after-tax position as if he had not been subject to the excise tax. For this purpose, the Executive shall be deemed to be in the highest marginal rate of federal and state taxes. This payment shall be made as soon as possible at the time the taxes are remitted to the tax authorities but no later than the close of the calendar year following the date of calendar year in which the Executive’s Qualifying Termination, but in no event later than ten (10) calendar days from such datetaxes are remitted to the tax authorities. For purposes of this Agreement, the term “excess parachute payment” shall have the meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the “Code”), and the term “excise tax” shall mean the tax imposed on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.

Excise Tax Payment. If any portion of the Severance Benefits or any other payment under this Agreement, or under any other agreement with, or plan of the Company (in the aggregate, “"Total Payments”") would constitute an “"excess parachute payment,” " such that a golden parachute excise tax is due, the Company shall provide to the Executive, in cash, an additional payment in an amount sufficient to cover the full cost of any excise tax and all of the Executive’s 's additional state and federal income, excise, and employment taxes that arise on this additional payment (cumulatively, the “"Full Gross-Up Payment”"), such that the Executive is in the same after-tax position as if he had not been subject to the excise tax. For this purpose, the Executive shall be deemed to be in the highest marginal rate of federal and state taxes. This payment shall be made as soon as possible following the date of the Executive’s 's Qualifying Termination, but in no event later than ten (10) calendar days from such date. For purposes of this Agreement, the term “"excess parachute payment” " shall have the meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the “"Code”"), and the term “"excise tax” " shall mean the tax imposed on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.

Excise Tax Payment. If any portion of the Severance Benefits or any other payment under this Agreement, or under any other agreement with, or plan of the Company (in the aggregate, “"Total Payments”") would constitute an “"excess parachute payment,” " such that a golden parachute excise tax is due, the Company shall provide to the Executive, in cash, an additional payment in an amount sufficient to cover the full cost of any excise tax and all of the Executive’s 's additional state and federal income, excise, and employment taxes that arise on this additional payment (cumulatively, the “"Full Gross-Up Payment”"), such that the Executive is in the same after-tax position as if he had not been subject to the excise tax. For this purpose, the Executive shall be deemed to be in the highest marginal rate of federal and state taxes. This payment shall be made as soon as possible at the time the taxes are remitted to the tax authorities but no later than the close of the calendar year following the date of calendar year in which the Executive’s Qualifying Termination, but in no event later than ten (10) calendar days from such datetaxes are remitted to the tax authorities. For purposes of this Agreement, the term “"excess parachute payment” " shall have the meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the “Code”), and the term “"excise tax” " shall mean the tax imposed on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.

Excise Tax Payment. If any portion of the Severance Benefits or any other payment under this Agreement, Agreement or under any other agreement with, or plan of the Company (in the aggregateCompany, “Total Payments”) including but not limited to stock options, and other long-term incentives, would constitute an “"excess parachute payment,” " such that a golden parachute excise tax is due, the Company shall provide to the ExecutiveExecutive an additional payment, in cash, an additional payment in an amount sufficient to cover the full cost to the Executive of any excise tax and all of the Executive’s additional state and federal income and employment taxes on this additional payment, and all iterative excise, income, excise, and employment taxes that arise on this additional payment thereon (cumulatively, the “Full "Gross-Up Payment”"), such that the Executive is in the same after-tax position as if he had not been subject to the excise tax. For this purpose, the Executive shall be deemed to be in the highest marginal rate of federal and state taxes. This payment The Gross-Up Payment shall be made as soon as possible following the date of the Executive’s 's Qualifying Termination, but in no event later than ten thirty (1030) calendar days from of such date. For purposes of this Agreement, the term “"excess parachute payment” " shall have the meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the “Code”), and the term “"excise tax” " shall mean the tax imposed on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.

Excise Tax Payment. If any portion of the Severance Benefits or any other payment under this Agreement, or under any other agreement with, or plan of the Company (in the aggregate, “Total Payments”) would constitute an “excess parachute payment,” such that a golden parachute excise tax is due, the Company shall provide to the Executive, in cash, an additional payment in an amount sufficient to cover the full cost of any excise tax and all of the Executive’s additional state and federal income, excise, and employment taxes that arise on this additional payment (cumulatively, the “Full Gross-Up Payment”), such that the Executive is in the same after-tax position as if he had not been subject to the excise tax. For this purpose, the Executive shall be deemed to be in the highest marginal rate of federal and state taxes. This Such payment shall will be made as soon as possible following the date of the Executive’s Qualifying Terminationadministratively practicable, but in no event later than ten (10) any case on or before December 31 of the calendar days from such dateyear next following the calendar year in which the Executive remits the related taxes. For purposes of this Agreement, the term “excess parachute payment” shall have the meaning assigned to such term in Section 280G of the Internal Revenue Code, as amended (the “Code”), and the term “excise tax” shall mean the tax imposed on such excess parachute payment pursuant to Sections 280G and 4999 of the Code.