Over- and Underpayments. As a result of uncertainty in the application of section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments not made by the Company should have been made (“Underpayment”) or that Gross-Up Payments will have been made by the Company that should not have been made (“Overpayment”). In either event, the Accounting Firm shall determine the amount of the Underpayment or Overpayment that has occurred. In the case of an Underpayment, the Company shall promptly pay the amount of such Underpayment to the Employee or for his benefit. In the case of an Overpayment, the Employee shall, at the direction and expense of the Company, take such steps as are reasonably necessary (including the filing of returns and claims for refund), follow reasonable instructions from, and procedures established by, the Company, and otherwise reasonably cooperate with the Company to correct such Overpayment, provided, however, that (i) the Employee shall in no event be obligated to return to the Company an amount greater than the net after-tax portion of the Overpayment that the Employee has retained or has recovered as a refund from the applicable taxing authorities and (ii) this provision shall be interpreted in a manner consistent with the intent of Subsection (a) above, which is to make the Employee whole, on an after-tax basis, from the application of the Excise Tax, it being understood that the correction of an Overpayment may result in the Employee’s repaying to the Company an amount that is less than the Overpayment.
Over- and Underpayments. As a result of uncertainty in the application of Section 4999 of the Code at the tithe of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments not made by the Company should have been made ("Underpayment"), or that Gross-Up Payments will have been made by the Company which should not have been made ("Overpayments"). In either such event, the Accounting Firm shall determine the amount of the Underpayment or Overpayment that has occurred. In the case of an Underpayment, the amount of such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. In the case of an overpayment, the Executive shall, at the direction and expense of the Company, take such steps as are reasonably necessary (including the fling of returns and claims for refund), follow reasonable instructions from, and procedures established by, the Company, and otherwise reasonably cooperate with the Company to correct such Overpayment.
Over- and Underpayments. If the District or the employee becomes aware of an apparent overpayment or underpayment, the other party shall be given immediate written notification of such fact. Within 30 days of the District's receipt of written notification from the employee that the employee has been underpaid, the District shall pay the employee the amount owing to the employee on the next scheduled payroll date. Within 30 days of the employee's receipt of written notification from the District that the District has overpaid the employee, the employee shall repay the amount owed to the District, without interest. If the employee fails to repay the District, the District shall have the right to withhold the amount due the District from any monies which the District owes the employee. In no event shall any claim by the employee or the District for overpayment or underpayment be recognized more than 12 months after the date on which such overpayment or underpayment occurred.
Over- and Underpayments a) Where the Employer has overpaid an Employee, the Employer shall notify the Employee of the overpayment and may recover the amounts, in consultation and agreement with the Employee as to the method and rate of recovery, provided that the rate at which the overpayment is recovered is not less than $50 per week. In exceptional circumstances, other arrangements for the recovery of overpayments may be mutually agreed.
b) This sub-clause authorises the use of deductions from wages for the purpose of recovery of an overpayment.
c) It is the responsibility of Employees to report overpayments to their supervisor/ manager when they are identified.
d) Where the Employer has underpaid an Employee, the Employer shall rectify the error no later than the pay immediately following the date on which the Employer discovers, or is advised, that the error occurred. Where the underpayment creates serious financial hardship for the Employee, the Employer will take all reasonable steps to make an immediate special payment to the Employee.
Over- and Underpayments. As a result of uncertainty in the application of section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments not made by Company should have been made (“Underpayment”) or that Gross-Up Payments will have been made by Company that should not have been made (“Overpayment”). In either event, the Accounting Firm will determine the amount of the Underpayment or Overpayment that has occurred. In the case of an Underpayment, the amount of such Underpayment will promptly be paid by Company to Executive or for Executive’s benefit. In the case of an Overpayment, Executive will, at the direction and expense of Company, take such steps as are reasonably necessary (including the filing of returns and claims for refund), follow reasonable instructions from, and procedures established by, Company, and otherwise reasonably cooperate with Company to correct such Overpayment, provided, however, that (i) Executive will in no event be obligated to return to Company an amount greater than the net after-tax portion of the Overpayment that Executive have retained or have recovered as a refund from the applicable taxing authorities and (ii) this provision will be interpreted in a manner consistent with the intent of Section 14(a) above, which is to make Executive whole, on an after-tax basis, from the application of the Excise Tax, subject to Section 14(e) below, it being understood that the correction of an Overpayment may result in Executive’s repaying to Company an amount that is less than the Overpayment.
Over- and Underpayments. As a result of uncertainty in the application of section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments not made by the Company should have been made (“Underpayment”), or that Gross-Up Payments will have been made by the Company that should not have been made (“Overpayment”). In either event, the Accounting Firm will determine the amount of the Underpayment or Overpayment that has occurred. In the case of an [RETURN TO TABLE OF CONTENTS] Xx. Xxxxx X. DeNuccio 8/17/01 Page 5 Underpayment, the amount of such Underpayment will promptly be paid by the Company to you or for your benefit. In the case of an Overpayment, you will, at the direction and expense of the Company, take such steps as are reasonably necessary (including the filing of returns and claims for refund), follow reasonable instructions from, and procedures established by, the Company, and otherwise reasonably cooperate with the Company to correct such Overpayment, provided, however, that (i) you will in no event be obligated to return to the Company an amount greater than the net after-tax portion of the Overpayment that you have retained or have recovered as a refund from the applicable taxing authorities and (ii) this provision will be interpreted in a manner consistent with the intent of Subparagraph (a) above, which is to make you whole, on an after-tax basis, from the application of the Excise Tax, it being understood that the correction of an Overpayment may result in your repaying to the Company an amount that is less than the Overpayment.
