Common use of Income Tax Treatment Clause in Contracts

Income Tax Treatment. Executive and the Company acknowledge that it is the intention of the Company to deduct all amounts paid under Section 2 hereof as ordinary and necessary business expenses for income tax purposes. Executive agrees and represents that he will treat all amounts paid hereunder as ordinary income (except for expense reimbursement) for income tax purposes.

Income Tax Treatment. Executive and the Company acknowledge that it is the intention of the Company to deduct all amounts paid under Section 2 hereof as ordinary and necessary business expenses for income tax purposes; subject, however, to any limitations set forth in applicable laws. Executive agrees and represents that he Executive will treat all amounts paid hereunder as ordinary income (except for expense reimbursement) for income tax purposesrequired by applicable law.