Common use of Limitations on Annual Credit Clause in Contracts

Limitations on Annual Credit. The amount of the annual Credit for a Taxable Year shall not exceed any of the following: 1. the Incremental Income Tax attributable to the Project for that Taxable Year; 2. the Company’s Illinois State Income Taxes for that Taxable Year (except for the portion of the Credit, if applicable, applied against the Company’s obligation to pay over withholding under Section 704A of the Illinois Income Tax Act); 3. when aggregated with all prior Credits issued to the Company under this Agreement, the total amount of Project Costs incurred by the Company during the term of this Agreement as of the last day of the Taxable Year for which a Credit is sought by the Company; 4. the total amount of Credits allowed to the Company in all Taxable Years shall not exceed the total amount of Project Costs incurred by the Company during the term of this Agreement; and 5. the Incremental Income Tax attributable to one hundred percent (100%) more than the total New Employees committed to under Section IV.C(i) in effect as of the first day of a Taxable Year for which a Credit is sought by the Company.

Limitations on Annual Credit. The amount of the annual Credit for a Taxable Year shall not exceed any of the following: 1. the Incremental Income Tax attributable to the Project for that Taxable Year; 2. the Company’s Illinois State Income Taxes for that Taxable Year (except for the portion of the Credit, if applicable, applied against the Company’s obligation to pay over withholding under Section 704A of the Illinois Income Tax Act); 3. when aggregated with all prior Credits issued to the Company under this Agreement, the total amount of Project Costs incurred by the Company during the term of this Agreement as of the last day of the Taxable Year for which a Credit is sought by the Company; 4. the total amount of Credits allowed to the Company in all Taxable Years shall not exceed the total amount of Project Costs incurred by the Company during the term of this Agreement; and 5. the Incremental Income Tax attributable to one hundred percent (100%) more than the total New Employees Employees, committed to under Section IV.C(i) in effect as of the first day of a Taxable Year for which a Credit is sought by the CompanyCompany and the Incremental Income Tax attributable to the Retained Employees committed to under Section IV. D(i).

Limitations on Annual Credit. The amount of the annual Credit for a Taxable Year shall not exceed any of the following: 1. the Incremental Income Tax attributable to the Project for that Taxable Year; 2. the Company’s Illinois State Income Taxes for that Taxable Year (except for the portion of the Credit, if applicable, applied against the Company’s obligation to pay over withholding under Section 704A of the Illinois Income Tax Act); 3. when aggregated with all prior Credits issued to the Company under this Agreement, the total amount of Project Costs incurred by the Company during the term of this Agreement as of the last day of the Taxable Year for which a Credit is sought by the Company; 4. the total amount of Credits allowed to the Company in all Taxable Years shall not exceed the total amount of Project Costs incurred by the Company during the term of this Agreement; and 5. the Incremental Income Tax attributable to one hundred percent (100%) more than the total New Employees committed to under Section IV.C(i) for December 31, 2029 in effect as of the first day of a Taxable Year for which a Credit is sought by the Company.

Limitations on Annual Credit. The amount of the annual Credit for a Taxable Year shall not exceed any of the following: 1. the Incremental Income Tax attributable to the Project for that Taxable Year; 2. the Company’s Illinois State Income Taxes for that Taxable Year (except for the portion of the Credit, if applicable, applied against the Company’s obligation to pay over withholding under Section 704A of the Illinois Income Tax Act); 3. when aggregated with all prior Credits issued to the Company under this Agreement, the total amount of Project Costs incurred by the Company during the term of this Agreement as of the last day of the Taxable Year for which a Credit is sought by the Company; 4. the total amount of Credits allowed to the Company in all Taxable Years shall not exceed the total amount of Project Costs incurred by the Company during the term of this Agreement; and 5. the Incremental Income Tax attributable to one hundred percent (100%) more than the total New Retained Employees committed to under Section IV.C(i) in effect as of the first day of a Taxable Year for which a Credit is sought by the Company.

Limitations on Annual Credit. The amount of the annual Credit for a Taxable Year shall not exceed any of the following: 1. the Incremental Income Tax attributable to the Project for that Taxable Year; 2. the Company’s Illinois State Income Taxes for that Taxable Year (except for the portion of the Credit, if applicable, applied against the Company’s obligation to pay over withholding under Section 704A of the Illinois Income Tax Act); 3. when aggregated with all prior Credits issued to the Company under this Agreement, the total amount of Project Costs incurred by the Company during the term of this Agreement as of the last day of the Taxable Year for which a Credit is sought by the Company; 4. the total amount of Credits allowed to the Company in all Taxable Years shall not exceed the total amount of Project Costs incurred by the Company during the term of this Agreement; and 5. the Incremental Income Tax attributable to one hundred percent (100%) more than the total New Employees Employees, committed to under Section IV.C(i) in effect as of the first day of a Taxable Year for which a Credit is sought by the CompanyCompany and the Incremental Income Tax attributable to the Retained Employees committed to under Section IV.D(i).

Limitations on Annual Credit. The amount of the annual Credit for a Taxable Year shall not exceed any of the following: 1. the Incremental Income Tax attributable to the Project for that Taxable Year; 2. the Company’s 's Illinois State Income Taxes for that Taxable Year (except for the portion of the Credit, if applicable, applied against the Company’s 's obligation to pay over withholding under Section 704A of the Illinois Income Tax Act); 3. when aggregated with all prior Credits issued to the Company under this Agreement, the total amount of Project Costs incurred by the Company during the term of this Agreement as of the last day of the Taxable Year for which a Credit is sought by the Company; 4. the total amount of Credits allowed to the Company in all Taxable Years shall not exceed the total amount of Project Costs incurred by the Company during the term of this Agreement; and 5. the Incremental Income Tax attributable to one hundred percent (100%) more than the total New Employees committed to under Section IV.C(i) in effect as of the first day of a Taxable Year for which a Credit is sought by the Company.