Common use of Payment of Additional Excise Tax Clause in Contracts

Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount taken into account hereunder when the Executive's employment terminated, the Executive shall repay to the Corporation -- when the amount of the reduction in Excise Tax is finally determined -- the portion of the Gross-Up Payments attributable to the reduction (plus that portion of the Gross-Up Payments attributable to the Excise Tax, federal, state and local income taxes and FICA and Medicare withholding taxes imposed on the Gross-Up Payments being repaid by the Executive to the extent that the repayment results in a reduction in Excise Tax, FICA and Medicare withholding taxes and/or a federal, state or local income tax deduction). If the Excise Tax is later determined to be more than the amount taken into account hereunder when the Executive's employment terminated (due, for example, to a payment whose existence or amount cannot be determined at the time of the Gross-Up Payments), the Corporation shall make an additional Gross-Up Payment to the Executive for that excess (plus any interest, penalties or additions payable by the Executive for the excess) when the amount of the excess is finally determined.

Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount taken into account hereunder when the Executive's employment terminated, the Executive shall repay to the Corporation Unizan Financial Corp. -- when the amount of the reduction in Excise Tax is finally determined -- the portion of the Gross-Up Payments attributable to the reduction (plus that portion of the Gross-Up Payments attributable to the Excise Tax, federal, state and local income taxes and FICA and Medicare withholding taxes imposed on the Gross-Up Payments being repaid by the Executive to the extent that the repayment results in a reduction in Excise Tax, FICA and Medicare withholding taxes and/or a federal, state or local income tax deduction). If the Excise Tax is later determined to be more than the amount taken into account hereunder when the Executive's employment terminated (due, for example, to a payment whose existence or amount cannot be determined at the time of the Gross-Up Payments), the Corporation Unizan Financial Corp. shall make an additional Gross-Up Payment to the Executive for that excess (plus any interest, penalties or additions payable by the Executive for the excess) when the amount of the excess is finally determined.

Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount taken into account hereunder when the Executive's employment terminated, the Executive shall repay to the Corporation -- when the amount of the reduction in Excise Tax is finally determined -- the portion of the Adjusted Gross-Up Payments Payment Amount attributable to the reduction (plus that portion of the Adjusted Gross-Up Payments Payment Amount attributable to the Excise Tax, federal, state and local income taxes and FICA and Medicare withholding taxes imposed on the Adjusted Gross-Up Payments Payment Amount being repaid by the Executive to the extent that the repayment results in a reduction in Excise Tax, FICA and Medicare withholding taxes and/or a federal, state or local income tax deduction). If the Excise Tax is later determined to be more than the amount taken into account hereunder when the Executive's employment terminated (due, for example, to a payment whose existence or amount cannot be determined at the time of the Adjusted Gross-Up PaymentsPayment Amount), the Corporation shall make an additional Adjusted Gross-Up Payment Amount to the Executive for that excess (plus any interest, penalties or additions payable by the Executive for the excess) when the amount of the excess is finally determined.

Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount taken into account hereunder when the Executive's employment terminated, the Executive shall repay to the Corporation Unizan Financial Corp. -- when the amount of the reduction in Excise Tax is finally determined -- the portion of the Adjusted Gross-Up Payments Payment Amount attributable to the reduction (plus that portion of the Adjusted Gross-Up Payments Payment Amount attributable to the Excise Tax, federal, state and local income taxes and FICA and Medicare withholding taxes imposed on the Adjusted Gross-Up Payments Payment Amount being repaid by the Executive to the extent that the repayment results in a reduction in Excise Tax, FICA and Medicare withholding taxes and/or a federal, state or local income tax deduction). If the Excise Tax is later determined to be more than the amount taken into account hereunder when the Executive's employment terminated (due, for example, to a payment whose existence or amount cannot be determined at the time of the Adjusted Gross-Up PaymentsPayment Amount), the Corporation Unizan Financial Corp. shall make an additional Adjusted Gross-Up Payment Amount to the Executive for that excess (plus any interest, penalties or additions payable by the Executive for the excess) when the amount of the excess is finally determined.

Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount taken into account hereunder when the Executive's employment terminated, the Executive shall repay to the Corporation UNB Corp. -- when the amount of the reduction in Excise Tax is finally determined -- the portion of the Gross-Up Payments attributable to the reduction (plus that portion of the Gross-Up Payments attributable to the Excise Tax, federal, state and local income taxes and FICA and Medicare withholding taxes imposed on the Gross-Up Payments being repaid by the Executive to the extent that the repayment results in a reduction in Excise Tax, FICA and Medicare withholding taxes and/or a federal, state or local income tax deduction). If the Excise Tax is later determined to be more than the amount taken into account hereunder when the Executive's employment terminated (due, for example, to a payment whose existence or amount cannot be determined at the time of the Gross-Up Payments), the Corporation UNB Corp. shall make an additional Gross-Up Payment to the Executive for that excess (plus any interest, penalties or additions payable by the Executive for the excess) when the amount of the excess is finally determined.

Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount taken into account hereunder when the Executive's employment terminated, the Executive shall repay to the Corporation -- NewMil Bancorp, Inc. C when the amount of the reduction in Excise Tax is finally determined -- C the portion of the Gross-Up Payments attributable to the reduction (plus that portion of the Gross-Up Payments attributable to the Excise Tax, federal, state and local income taxes and FICA and Medicare withholding taxes imposed on the Gross-Up Payments being repaid by the Executive to the extent that the repayment results in a reduction in Excise Tax, FICA and Medicare withholding taxes and/or a federal, state or local income tax deduction). If the Excise Tax is later determined to be more than the amount taken into account hereunder when the Executive's employment terminated (due, for example, to a payment whose existence or amount cannot be determined at the time of the Gross-Up Payments), the Corporation NewMil Bancorp, Inc. shall make an additional Gross-Up Payment to the Executive for that excess (plus any interest, penalties or additions payable by the Executive for the excess) when the amount of the excess is finally determined.

Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount taken into account hereunder when the Executive's employment terminated, the Executive shall repay to the Corporation Cortland Bancorp -- when the amount of the reduction in Excise Tax is finally determined -- the portion of the Adjusted Gross-Up Payments Payment Amount attributable to the reduction (plus that portion of the Adjusted Gross-Up Payments Payment Amount attributable to the Excise Tax, federal, state state, and local income taxes and FICA and Medicare withholding taxes imposed on the Adjusted Gross-Up Payments Payment Amount being repaid by the Executive to the extent that the repayment results in a reduction in Excise Tax, FICA FICA, and Medicare withholding taxes and/or a federal, state state, or local income tax deduction). If the Excise Tax is later determined to be more than the amount taken into account hereunder when the Executive's employment terminated (due, for example, to a payment whose existence or amount cannot be determined at the time of the Adjusted Gross-Up PaymentsPayment Amount), the Corporation Cortland Bancorp shall make an additional Adjusted Gross-Up Payment Amount to the Executive for that excess (plus any interest, penalties penalties, or additions payable by the Executive for the excess) when the amount of the excess is finally determined.

Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount taken into account hereunder when the ExecutiveOfficer's employment terminated, the Executive Officer shall repay to the Corporation -- when the amount of the reduction in Excise Tax is finally determined -- the portion of the Adjusted Gross-Up Payments Payment Amount attributable to the reduction (plus that portion of the Adjusted Gross-Up Payments Payment Amount attributable to the Excise Tax, federal, state and local income taxes and FICA and Medicare withholding taxes imposed on the Adjusted Gross-Up Payments Payment Amount being repaid by the Executive Officer to the extent that the repayment results in a reduction in Excise Tax, FICA and Medicare withholding taxes and/or a federal, state or local income tax deduction). If the Excise Tax is later determined to be more than the amount taken into account hereunder when the ExecutiveOfficer's employment terminated (due, for example, to a payment whose existence or amount cannot be determined at the time of the Adjusted Gross-Up PaymentsPayment Amount), the Corporation shall make an additional Adjusted Gross-Up Payment Amount to the Executive Officer for that excess (plus any interest, penalties or additions payable by the Executive Officer for the excess) when the amount of the excess is finally determined.