Common use of Payment of Professional Fees Clause in Contracts

Payment of Professional Fees. The Company shall pay on Executive's behalf all statements rendered to Executive by Executive's attorneys, accountants and other advisors for reasonable fees and expenses, up to a maximum of $10,000, in connection with the negotiation and preparation of this Agreement. The Company shall pay Executive, on or prior to such date as Executive shall be required to pay federal, state or local taxes with respect to the Company's payment of such professional fees, an additional payment (the "GROSS-UP PAYMENT") in an amount sufficient to fully reimburse Executive with respect to all federal, state and local taxes with respect to the Company's payment of such professional fees and with respect to receipt of the Gross-Up Payment.

Payment of Professional Fees. The Company shall pay on the Executive's behalf all statements rendered to the Executive by the Executive's attorneys, accountants and other advisors for reasonable fees and expenses, up to a maximum of $10,000, expenses in connection with the negotiation and preparation of this Agreement. The Company shall pay the Executive, on or prior to such date as the Executive shall be required to pay federal, state or local taxes with respect to the Company's payment of such professional fees, an additional payment (the "GROSSGross-UP PAYMENTUp Payment") in an amount sufficient to fully reimburse the Executive with respect to all federal, state and local taxes with respect to the Company's payment of such professional fees and with respect to receipt of the Gross-Up Payment.

Payment of Professional Fees. The Company shall pay on the Executive's ’s behalf all statements rendered to the Executive by the Executive's ’s attorneys, accountants and other advisors for reasonable fees and expenses, up to a maximum of $10,000, expenses in connection with the negotiation and preparation of this Agreement. The Company shall pay the Executive, on or prior to such date as the Executive shall be required to pay federal, state or local taxes with respect to the Company's ’s payment of such professional fees, an additional payment (the "GROSS“Gross-UP PAYMENT"Up Payment”) in an amount sufficient to fully reimburse the Executive with respect to all federal, state and local taxes with respect to the Company's ’s payment of such professional fees and with respect to receipt of the Gross-Up Payment.