Common use of Golden Parachute Excise Tax Clause in Contracts

Golden Parachute Excise Tax. If FECI determines that any amounts payable under this Agreement are subject to the excise tax imposed under Code Section 4999 on "excess parachute payments," FECI will compute the excise tax imposed under Code Section 4999 and shall pay that amount to the Executive, including any federal, state, local and excise taxes imposed on the foregoing payment under this Section 2(b)(xv). The determination will be made before the taxes are due and payable by the Executive, to the extent possible. The calculations under this Section will be made in a manner consistent with the requirements of Code Sections 280G and 4999, as in effect at the time the calculations are made.

Golden Parachute Excise Tax. If FECI determines that any amounts payable under this Agreement are subject to the excise tax imposed under Code Section 4999 of the Internal Revenue Code on "excess parachute payments," FECI Employer will in good faith compute the excise tax imposed under Code Section 4999 and shall pay that amount to the Executive, including any federal, state, local and excise taxes imposed on the foregoing payment under this Section 2(b)(xv2(b)(xvii). The determination will be made before the taxes are due and payable by the Executive, to the extent possible. The calculations under this Section will be made in a manner consistent with the requirements of Code Sections Section 280G and 4999, as in effect at the time the calculations are made.

Golden Parachute Excise Tax. If FECI determines that any amounts payable under this Agreement are subject to the excise tax imposed under Code Section 4999 on "excess parachute payments," ", FECI will compute the excise tax imposed under Code Section 4999 and shall pay that amount to the Executive, including any federal, state, local and excise taxes imposed on the foregoing payment under this Section 2(b)(xv2(b)(xvi). The determination will be made before the taxes are due and payable by the Executive, to the extent possible. The calculations under this Section will be made in a manner consistent with the requirements of Code Sections 280G and 4999, as in effect at the time the calculations are made.

Golden Parachute Excise Tax. If FECI determines that any amounts payable under this Agreement are subject to the excise tax imposed under Code Section 4999 of the Internal Revenue Code on "excess parachute payments," FECI Employer will in good faith compute the excise tax imposed under Code Section 4999 and shall pay that amount to the Executive, including any federal, state, local and excise exercise taxes imposed on the foregoing payment under this Section 2(b)(xv2(b)(xiv). The determination will be made before the taxes are due and payable by the Executive, to the extent possible. The calculations calculation under this Section will be made in a manner consistent with the requirements of Code Sections Section 280G and 4999, as in effect at the time the calculations are made.