Common use of Medicare Payroll Taxes Clause in Contracts

Medicare Payroll Taxes. Company shall indemnify Executive on a fully grossed-up, after-tax basis for any Medicare payroll taxes (plus any income taxes on such indemnity payments) incurred by Executive in connection with the accrual and/or payment of benefits under the Plan." Capitalized terms (and the term "CO system") used in this letter agreement are used with the same meanings ascribed to them in your employment agreement. If you agree with the foregoing, please sign the enclosed copy of this letter agreement, whereby this letter agreement shall be a binding agreement between you and the Company and shall amend your employment agreement accordingly. Sincerely, CONTINENTAL AIRLINES, INC. By:________________________ Xxxxxxx X. Xxxxxxxx Senior Vice President - Human Resources and Labor Relations Agreed: _____________________

Medicare Payroll Taxes. Company shall indemnify Executive on a fully grossed-up, after-tax basis for any Medicare payroll taxes (plus any income taxes on such indemnity payments) incurred by Executive in connection with the accrual and/or payment of benefits under the Plan." Capitalized terms (and the term "CO system") used in this letter agreement are used with the same meanings ascribed to them in your employment agreement. If you agree with the foregoing, please sign the enclosed copy of this letter agreement, whereby this letter agreement shall be a binding agreement between you and the Company and shall amend your employment agreement accordingly. Sincerely, CONTINENTAL AIRLINES, INC. By:________________________ Xxxxxxx X. Xxxxxxxx Senior Xxxxxx Executive Vice President - Human Resources and Labor Relations Corporate Agreed: _____________________