Gross-Up Provisions. (a) If the Executive is, in the opinion of a nationally recognized accounting firm jointly selected by the Executive and the Company, expected to pay an excise tax on "excess parachute payments" (as defined in Section 280G(b) of the Internal Revenue Code of 1986, as amended (the "Code")) under Section 4999 of the Code as a result of an acceleration of the vesting of options or for any other reason, the Company shall have an absolute and unconditional obligation to pay the Executive in accordance with the terms of this Section 10 the expected amount of such taxes. In addition, the Company shall have an absolute and unconditional obligation to pay the Executive such additional amounts as are necessary to place the Executive in the exact same financial position that he would have been in if he had not incurred any expected tax liability under Section 4999 of the Code; provided that the Company shall in no event pay the Executive any amounts with respect to any penalties or interest due under any provision of the Code. The determination of the exact amount, if any, of any expected "excess parachute payments" and any expected tax liability under Section 4999 of the Code shall be made by the nationally-recognized independent accounting firm selected by the Executive and the Company. The fees and expenses of such accounting firm shall be paid by the Company in advance. The determination of such accounting firm shall be final and binding on the parties. The Company irrevocably agrees to pay to the Executive, in immediately available funds to an account designated in writing by the Executive, any amounts to be paid under this Section 10 within two days after receipt by the Company of written notice from the accounting firm which sets forth such accounting firm's determination. In addition, in the event that such payments are not sufficient to pay all excise taxes on "excess parachute payments" under Section 4999 of the Code as a result of an acceleration of the vesting of options or for any other reason and to place the Executive in the exact same financial position that he would have been in if he had not incurred any expected tax liability under Section 4999 of the Code as a result of a change in control, then the Company shall have an absolute and unconditional obligation to pay the Executive such additional amounts as may be necessary to pay such excise taxes and place the Executive in the exact same financial position that he would have been had he not incurre...
Gross-Up Provisions. (a) If the Executive is, in the opinion of a nationally recognized accounting firm selected by the Executive in his sole discretion, expected to pay an excise tax on "excess parachute payments" (as defined in Section 280G(b) of the Internal Revenue Code of 1986, as amended (the "Code")) under Section 4999 of the Code as a result of an acceleration of the vesting of options or for any other reason, the Company shall have an absolute and unconditional obligation to pay the Executive in accordance with the terms of this Section 7 the expected amount of such taxes. In addition, the Company shall have an absolute and unconditional obligation to pay the Executive such additional amounts as are necessary to place the Executive in the exact same financial position that he would have been in if he had not incurred any expected tax liability under Section 4999 of the Code; provided that the Company shall in no event pay the Executive any amounts with respect to any penalties or interest due under any provision of the Code. The determination of the exact amount, if any, of any expected "excess parachute payments" and any expected tax liability under Section 4999 of the Code shall be made by the nationally-recognized independent accounting firm selected by the
Gross-Up Provisions. In the event that the total amount of payments made under this Agreement on account of termination under Subsection 11(a)(v) above or the total amount of payments made under any other agreement or arrangement between the Employee and the Company, whether written or oral, including any combination of payments made pursuant to different agreements, arrangements or plans equals or exceeds the aggregate present value of three times the "base amount," the Company shall indemnify the Employee for the amount of any surtax imposed pursuant to Section 280G and Section 4999 of the Internal Revenue Code of 1986 as amended along with an amount intended to reimburse the Employee for income tax imposed on such payment (together , the "Gross-up payment"). The Company intends, by the payment of such indemnification, to make the Employee whole and to put the Employee in the same position as if the payments provided for under Section 13(e) hereof, this Section 13(g) and otherwise, were made, and no additional surtaxes or other income taxes of any kind were required to be paid with respect to such payments. The total amount due to the Employee pursuant to this section shall be calculated using the following formula: G= (0.2P-0.2B)/(0.8-R) where : G is the Gross-up Payment P is the amount of the Parachute Payment B is the Base Amount R is the aggregate applicable income tax rate
Gross-Up Provisions. Any of the following benefits which subsequently become subject to taxation will be paid at one hundred and thirty-three percent (133%) of the benefit income received by the employee as determined by the IRS. This provision applies to the following benefits: Flexible Benefit Plan Textbook & Tuition Reimbursement Plan Medical Maintenance Examination Reimbursement Program Professional Memberships 401(k) Deferred Compensation Program Sec. 708 Effective July 1, 2021, the County shall provide reimbursement for fees associated with renewal of medical license. To be eligible for these reimbursements, employees must be working at least 0.5 FTE.
Gross-Up Provisions. It is the intent of the Company and Employee that: (i) issuance of the Stock Loan to Employee under Section 4.b.; (ii) reimbursement or payment by the Company of Rental Expenses, the Home Expenses, or the Moving Expenses; and (iii) the Relocation Loan, be revenue neutral after taxes to Employee. To the extent that any of the above compensation or payments made under this Agreement are taxable to Employee, including payments made under this paragraph, the Company shall pay to Employee the amounts (the "Gross Up Amounts") necessary to pay all income taxes on such compensation or payments reimbursed in order to "gross up" the total payments to Employee to cover taxes on such payments and on the gross up payments required by this paragraph so that the total payments and reimbursements to Employee under Sections 4.b., 5 and 11 of this Agreement shall be revenue neutral after taxes to Employee.
Gross-Up Provisions. [Check this only if applicable.] If the Property is a multi-tenant building and is not fully occupied during the Base Year or any portion of the Lease Term, an adjustment shall be made in computing the variable costs for each applicable calendar year. Variable costs shall include only those items of expense that vary directly proportionately to the occupancy of the Property. Variable costs which art included in the CAM and Operating Expenses shall be Increased proportionately to the amounts that, in Landlord’s reasonable judgment, would have been incurred had ninety percent (90%) of the useable area of the Property been occupied during those years. XXXXX XXXXX COMMERCIAL ASSOCIATION OF REALTORS® ADDENDUM “B” TO LEASE RENEWAL OPTIONS Address of the Premises: 9,957 sf at 4251 Kellway
Gross-Up Provisions. [Check this only if applicable.] If the property is a multi-tenant building and is not fully occupied during the Base year or any portion of the Lease Term, an adjustment shall be made in computing the variable costs for each applicable calendar year Variable costs shall include only those items of expense that vary directly proportionately to the occupancy of the Property Variable costs which are included in the CAM and Operation Expenses shall be increased proportionately to the amounts that, in Landlord's reasonable judgement, would have been incurred had ninety percent (90%) of the useable area of the Property been occupied during those years.
Gross-Up Provisions. [Check this only if applicable.] If the Property is a multi-tenant building and is not fully occupied during the Base Year or any portion of the Term, an adjustment will be made in computing the variable costs for the Base Year and each applicable calendar year of the Term. Variable costs will include only those items of expense that vary directly proportionately to the occupancy of the Property. Variable costs that are included in the CAM Expenses, Operating Expenses and Utilities will be increased proportionately to the amounts that, in Landlord's reasonable judgment, would have been incurred had 95% of the useable area of the Property been occupied during those years.
Gross-Up Provisions. In the event that the payments to Employee under this Employment Agreement are subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended, and/or any successor provision or any comparable provision of state or local income tax law, the Employer will make Gross Up Payments (as defined at Exhibit A hereto) to Employee on the terms described in Exhibit A."
Gross-Up Provisions is hereby added to the end of the Employment Agreement:
