Common use of Indemnification and Reimbursement of Payments on Behalf of Executive Clause in Contracts

Indemnification and Reimbursement of Payments on Behalf of Executive. Holdings and its Subsidiaries shall be entitled to deduct or withhold from any amounts owing from Holdings or any of its Subsidiaries to Executive any federal, state, local or foreign withholding taxes, excise tax or employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from Holdings, the Company or any of their respective Subsidiaries or Executive’s ownership interest in Holdings, the Company or any of their respective Subsidiaries (including, without limitation, wages, bonuses, dividends, the receipt or exercise of equity options and/or the receipt or vesting of restricted equity), as may be required to be deducted or withheld by any applicable law or regulation. In the event Holdings or any of its Subsidiaries does not make such deductions or withholdings, Executive shall indemnify Holdings and its Subsidiaries for any amounts paid with respect to any such Taxes, together (if such failure to withhold was at the written direction of Executive) with any interest, penalties and related expenses thereto.

Appears in 2 contracts

Samples: Employment Agreement (A.K.A. Brands Holding Corp.), Employment Agreement (A.K.A. Brands Holding Corp.)

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Indemnification and Reimbursement of Payments on Behalf of Executive. Holdings It shall be a condition of the exercise of any Option that Executive shall make appropriate payment of, and the Company and its Subsidiaries shall be entitled to deduct or withhold from any amounts owing from Holdings the Company or any of its Subsidiaries to Executive Executive, any federal, state, local or foreign withholding taxes, excise tax taxes, or employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from Holdings, the Company or any of their respective its Subsidiaries or Executive’s ownership interest in Holdingsthe Company, the Company or any of their respective Subsidiaries (including, without limitation, wages, bonuses, dividends, the receipt or exercise of equity stock options and/or the receipt or vesting of restricted equitystock (including the Option and any Option Shares), as may be required to be deducted or withheld by any applicable law or regulation. In the event Holdings the Company or any of its Subsidiaries does not make such deductions or withholdings, Executive shall indemnify Holdings the Company and its Subsidiaries for any amounts paid with respect to by the Company and its Subsidiaries for any such Taxes, together (if such failure to withhold was at the written direction of Executive) with any interest, penalties and related expenses thereto.

Appears in 2 contracts

Samples: Option Agreement (Rackable Systems, Inc.), Option Agreement (Rackable Systems, Inc.)

Indemnification and Reimbursement of Payments on Behalf of Executive. Holdings It shall be a condition of the exercise of any Option that Executive shall make appropriate payment of, and the Company and its Subsidiaries shall be entitled to deduct or withhold from any amounts owing from Holdings the Company or any of its Subsidiaries to Executive Executive, any federal, state, local or foreign withholding taxes, excise tax taxes, or employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from Holdings, the Company or any of their respective its Subsidiaries or Executive’s ownership interest in Holdingsthe Company, the Company or any of their respective Subsidiaries (including, without limitation, wages, bonuses, dividends, the receipt or exercise of equity stock options and/or the receipt or vesting of restricted equitystock (including the Option and any Option Shares), as may be required to be deducted or withheld by any applicable law or regulation. In the event Holdings the Company or any of its Subsidiaries does not make such deductions or withholdings, . Executive shall indemnify Holdings the Company and its Subsidiaries for any amounts paid with respect to by the Company and its Subsidiaries for any such Taxes, together (if such failure to withhold was at the written direction of Executive) with any interest, penalties and related expenses thereto.

Appears in 2 contracts

Samples: Option Agreement (Rackable Systems, Inc.), Option Agreement (Rackable Systems, Inc.)

Indemnification and Reimbursement of Payments on Behalf of Executive. Holdings and its Subsidiaries shall be entitled to deduct or withhold from any amounts owing from Holdings or any of its Subsidiaries to Executive any federal, state, local or foreign withholding taxes, excise tax tax, or employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from Holdings, the Company or any of their respective Subsidiaries or Executive’s ownership interest in Holdings, the Company or any of their respective Subsidiaries (including, without limitation, wages, bonuses, dividends, the receipt or exercise of equity options and/or the receipt or vesting of restricted equity), as may be required to be deducted or withheld by any applicable law or regulation. In the event Holdings or any of its Subsidiaries does not make such deductions or withholdings, Executive shall indemnify Holdings and its Subsidiaries for any amounts paid with respect to any such Taxes, together (if such failure to withhold was at the written direction of Executive) with any interest, penalties and related expenses thereto.

Appears in 1 contract

Samples: Employment Agreement (A.K.A. Brands Holding Corp.)

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Indemnification and Reimbursement of Payments on Behalf of Executive. Holdings and its Subsidiaries shall be entitled to deduct or withhold from any amounts owing from Holdings or any of its Subsidiaries to Executive any federal, state, local or foreign withholding taxes, excise tax tax, or employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from Holdings, the Company or any of their respective Subsidiaries or Executive’s ownership interest in Holdings, the Company or any of their respective Subsidiaries (including, without limitation, wages, bonuses, dividends, the receipt or exercise of equity options and/or the receipt or vesting of restricted equity), as may be required to be deducted or withheld by any applicable law or regulation. In the event Holdings or any of its Subsidiaries does Subsidiariesdoes not make such deductions or withholdings, Executive shall indemnify Holdings and its Subsidiaries for any amounts paid with respect to any such Taxes, together (if such failure to withhold was at the written direction of Executive) with any interest, penalties and related expenses thereto.

Appears in 1 contract

Samples: Employment Agreement (A.K.A. Brands Holding Corp.)

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