Common use of Parachute Penalties Clause in Contracts

Parachute Penalties. The Company agrees to provide Executive with ------------------- payment sufficient to provide for a gross-up of any excise, income, and other taxes resulting from imposition of the parachute penalties of the Internal Revenue Code or applicable state tax laws.

Parachute Penalties. The Company agrees to provide Executive with ------------------- payment sufficient to provide for a gross-up of any excise, income, and other taxes resulting from the imposition of the parachute penalties of the Internal Revenue Code or applicable state sales tax laws.

Parachute Penalties. The Company agrees to provide the Executive with ------------------- payment sufficient to provide for a gross-up cover any tax resulting from the imposition of any excise, income, and other taxes resulting from imposition of the parachute penalties of under the Internal Revenue Code or applicable state tax lawslaws imposed on the Executive in the event of the grant of certain benefits to the Executive by the Company upon the termination of the Executive's employment after he has commenced his employment with the Company on or about October 15, 2001.