Common use of Potential Excise Taxes Clause in Contracts

Potential Excise Taxes. Should any payments made or benefits provided ---------------------- to Employee under this Agreement be subject to an excise tax pursuant to Section 4999 of the Internal Revenue Code or any successor or similar provision thereto, or comparable state or local tax laws, Employer shall pay to Employee such additional compensation as is necessary (after taking into account all federal, state, and local income taxes payable by Employee as a result of the receipt of such compensation) to place Employee in the same after-tax position he would have been in, had no such excise tax (or any interest or penalties thereon) been paid or incurred. Employer shall pay such additional compensation upon the earlier of: (i) the time at which Employer withholds such excise tax from any payments to Employee; or (ii) thirty (30) days after Employee notifies Employer that Employee has filed a tax return which takes the position that such excise tax is due and payable in reliance on a written opinion of Employee=s tax advisor that it is more likely than not that such excise tax is due and payable. If Employee makes any additional payment with respect to any such excise tax as a result of an adjustment to Employee=s tax liability by any federal, state, or local authority, Employer shall pay such additional compensation within thirty (30) days after Employee notifies Employer of such payment.

Potential Excise Taxes. Should any payments made or benefits provided ---------------------- to Employee under this Agreement be subject to an excise tax pursuant to Section 4999 of the Internal Revenue Code or any successor or similar provision thereto, or comparable state or local tax laws, Employer shall pay to Employee such additional compensation as is necessary (after taking into account all federal, state, and local income taxes payable by Employee as a result of the receipt of such compensation) to place Employee in the same after-tax position he would have been in, had no such excise tax (or any interest or penalties thereon) been paid or incurred. Employer shall pay such additional compensation upon the earlier of: (i) the time at which Employer withholds such excise tax from any payments to Employee; or (ii) thirty (30) days after Employee notifies Employer that Employee has filed a tax return which takes the position that such excise tax is due and payable in reliance on a written opinion of Employee=s 's tax advisor that it is more likely than not that such excise tax is due and payable. If Employee makes any additional payment with respect to any such excise tax as a result of an adjustment to Employee=s 's tax liability by any federal, state, or local authority, Employer shall pay such additional compensation within thirty (30) days after Employee notifies Employer of such payment.

Potential Excise Taxes. Should any payments made or benefits provided ---------------------- to Employee under this Agreement be subject to an excise tax pursuant to Section 4999 of the Internal Revenue Code or any successor or similar provision thereto, or comparable state or local tax laws, Employer shall pay to Employee such additional compensation as is necessary (after taking into account all federal, state, and local income taxes payable by Employee as a result of the receipt of such compensation) to place Employee in the same after-tax position he would have been in, had no such excise tax (or any interest or penalties thereon) been paid or incurred. Employer shall pay such additional compensation upon the earlier of: (i) the time at which Employer withholds such excise tax from any payments to Employee; or (ii) thirty (30) 30 days after Employee notifies Employer that Employee has filed a tax return which takes the position that such excise tax is due and payable in reliance on a written opinion of Employee=s 's tax advisor that it is more likely than not that such excise tax is due and payable. If Employee makes any additional payment with respect to any such excise tax as a result of an adjustment to Employee=s 's tax liability by any federal, state, or local authority, Employer shall pay such additional compensation within thirty (30) 30 days after Employee notifies Employer of such payment.

Potential Excise Taxes. Should any payments made or benefits provided ---------------------- to Employee under this Agreement be subject to an excise tax pursuant to Section 4999 of the Internal Revenue Code or any successor or similar provision thereto, or comparable state or local tax laws, Employer shall pay to Employee such additional compensation as is necessary (after taking into account all federal, state, and local income taxes payable by Employee as a result of the receipt of such compensation) to place Employee in the same after-tax position he would have been in, had no such excise tax (or any interest or penalties thereon) been paid or incurred. Employer shall pay such additional compensation upon the earlier of: (i) the time at which Employer withholds such excise tax from any payments to Employee; or (ii) thirty (30) days after Employee notifies Employer that Employee has filed a tax return which takes the position that such excise tax is due and payable in reliance on a written opinion of Employee=s 's tax advisor that it is more likely than not that such excise tax is due and payable. If Employee makes any additional payment with respect to any such excise tax as a result of an adjustment to Employee=s 's tax liability by any federal, state, or local authority, Employer shall pay such additional compensation within 9 thirty (30) days after Employee notifies Employer of such payment.