Net After-Tax Amount. The “Net After-Tax Amount” of a Payment shall mean the Value of a Payment net of all taxes imposed on the Executive with respect thereto under Sections 1 and 4999 of the Code and applicable state and local law, determined by applying the highest marginal rates that are expected to apply to the Executive’s taxable income for the taxable year in which the Payment is made.
Appears in 13 contracts
Samples: Employment Agreement (Amec Foster Wheeler PLC), Employment Agreement (Foster Wheeler Ag), Employment Agreement (Foster Wheeler Ag)
