Common use of Indemnification for Excise Tax Clause in Contracts

Indemnification for Excise Tax. In the event that Executive becomes entitled to receive a Severance Payment in accordance with the provisions of Section 6 above, and such Severance Payment and any other benefits or payments (including transfers of property) that Executive receives, or is to receive, pursuant to this Agreement or any other agreement, plan or arrangement with the Company in connection with a Change in Control of the Company (“Other Benefits”) shall be subject to the tax imposed pursuant to Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”)(or any successor thereto) or any comparable provision of state law (an “Excise Tax”), the following rules shall apply:

Indemnification for Excise Tax. In the event that Executive becomes entitled to receive a Severance Payment in accordance with the provisions of Section 6 above, and such Severance Payment and any other benefits or payments (including transfers of property) that Executive receives, or is to receive, pursuant to this Agreement or any other agreement, plan or arrangement with the Company in connection with a Change in Control of the Company (“"Other Benefits”") shall be subject to the tax imposed pursuant to Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”)(or "Code")(or any successor thereto) or any comparable provision of state law (an “"Excise Tax”"), the following rules shall apply:

Indemnification for Excise Tax. In the event that Executive becomes entitled to receive a Severance Payment in accordance with the provisions of Section 6 abovehereunder, and such Severance Payment and or any other benefits or payments (including transfers of property, within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the "Code") (or any successor thereto) or the regulations thereunder) that Executive receives, or is to receive, pursuant to this Agreement or any other agreement, plan or arrangement with the Company in connection with a Change in Control of the Company (“"Other Benefits”") shall be subject to the tax imposed pursuant to Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”)(or or any successor thereto) or any comparable provision of state law (an “"Excise Tax”"), the following rules shall apply: