Common use of Payment Subject to Excise Tax Clause in Contracts

Payment Subject to Excise Tax. If it shall be determined that any payment or distribution made, or benefit provided, by the Company to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 10) (a "Payment") would be subject to the excise tax imposed by section 4999 of the Code (or any similar excise tax) or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are referred to collectively as the "Excise Tax"), then Executive shall be entitled to receive an additional payment (a "Gross-Up Payment") in an amount such that after payment by Executive of all taxes (including any Excise Tax, income tax, or payroll tax) imposed upon the Gross-Up Payment and any interest or penalties imposed with respect to the taxes imposed upon the Gross Up Payment, Executive retains from the Gross-Up Payment an amount equal to the Excise Tax imposed upon the Payments.

Payment Subject to Excise Tax. If it shall be determined that any payment or distribution made, or benefit provided, by the Company SPI to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement agreement or otherwise, but determined without regard to any additional payments required under this Section 10paragraph 7) (a "Payment") would be subject to the excise tax imposed by section 4999 of the Code (or any similar excise tax) or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are referred to collectively as the "Excise Tax"), then Executive shall be entitled to receive an additional payment (a "Gross-Up Payment") in an amount such that after payment by Executive of all taxes (including any Excise Tax, income tax, or payroll tax) imposed upon the Gross-Up Payment and any interest or penalties imposed with respect to the taxes imposed upon the Gross Up Paymentsuch taxes, Executive retains from the Gross-Up Payment an amount equal to the Excise Tax imposed upon the Payments.

Payment Subject to Excise Tax. If it shall be determined that ----------------------------- any payment or distribution made, or benefit provided, by the Company SPI to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement agreement or otherwise, but determined without regard to any additional payments required under this Section 10paragraph 7) (a "Payment") would be subject to the excise tax imposed by section 4999 of the Code (or any similar excise tax) or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are referred to collectively as the "Excise Tax"), then Executive shall be entitled to receive an additional payment (a "Gross-Up Payment") in an amount such that after payment by Executive of all taxes (including any Excise Tax, income tax, or payroll tax) imposed upon the Gross-Up Payment and any interest or penalties imposed with respect to the taxes imposed upon the Gross Up Paymentsuch taxes, Executive retains from the Gross-Up Payment an amount equal to the Excise Tax imposed upon the Payments.

Payment Subject to Excise Tax. If it shall be determined that any payment or distribution made, or benefit provided, by the Company SPI to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 107) (a "Payment") would be subject to the excise tax imposed by section 4999 of the Code (or any similar excise tax) or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are referred to collectively as the "Excise Tax"), then Executive shall be entitled to receive an additional payment (a "Gross-Up Payment") in an amount such that after payment by Executive of all taxes (including any Excise Tax, income tax, or payroll tax) imposed upon the Gross-Up Payment and any interest or penalties imposed with respect to the taxes imposed upon the Gross Up Paymentsuch taxes, Executive retains from the Gross-Up Payment an amount equal to the Excise Tax imposed upon the Payments.

Payment Subject to Excise Tax. If it shall be determined that any payment or distribution made, or benefit provided, by the Company SPI to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement agreement or otherwise, but determined without regard to any additional payments required under this Section 10paragraph 6) (a "Payment") would be subject to the excise tax imposed by section 4999 of the Code (or any similar excise tax) or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are referred to collectively as the "Excise Tax"), then Executive shall be entitled to receive an additional payment (a "Gross-Gross Up Payment") in an amount such that after payment by Executive of all taxes (including any Excise Tax, income tax, or payroll tax) imposed upon the Gross-Gross Up Payment and any interest or penalties imposed with respect to the taxes imposed upon the Gross Up Paymentsuch taxes, Executive retains from the Gross-Gross Up Payment an amount equal to the Excise Tax imposed upon the Payments.

Payment Subject to Excise Tax. If it shall be ----------------------------- determined that any payment or distribution made, or benefit provided, by the Company SPI to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement agreement or otherwise, but determined without regard to any additional payments required under this Section 10paragraph 7) (a "Payment") would be subject to the excise tax imposed by section 4999 of the Code (or any similar excise tax) or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are referred to collectively as the "Excise Tax"), then Executive shall be entitled to receive an additional payment (a "Gross-Up Payment") in an amount such that after payment by Executive of all taxes (including any Excise Tax, income tax, or payroll tax) imposed upon the Gross-Up Payment and any interest or penalties imposed with respect to the taxes imposed upon the Gross Up Paymentsuch taxes, Executive retains from the Gross-Up Payment an amount equal to the Excise Tax imposed upon the Payments.

Payment Subject to Excise Tax. If it shall be determined ----------------------------- that any payment or distribution made, or benefit provided, by the Company SPI to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement agreement or otherwise, but determined without regard to any additional payments required under this Section 10paragraph 7) (a "Payment") would be subject to the excise tax imposed by section 4999 of the Code (or any similar excise tax) or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are referred to collectively as the "Excise Tax"), then Executive shall be entitled to receive an additional payment (a "Gross-Up Payment") in an amount such that after payment by Executive of all taxes (including any Excise Tax, income tax, or payroll tax) imposed upon the Gross-Up Payment and any interest or penalties imposed with respect to the taxes imposed upon the Gross Up Paymentsuch taxes, Executive retains from the Gross-Up Payment an amount equal to the Excise Tax imposed upon the Payments.