Common use of Potential Increase in Benefits Clause in Contracts

Potential Increase in Benefits. Notwithstanding any other provision of this Section 4, if (i) there is a reduction in the payments to a Participant as described in this Section 4, (ii) the IRS later determines that the Participant is liable for the Excise Tax, the payment of which would result in the maximization of the Participant's net after-tax proceeds (calculated as if the Participant's benefits had not previously been reduced), and (iii) the Participant pays the Excise Tax, then the Company shall pay to the Participant those payments which were reduced pursuant to this Section 4 as soon as administratively possible after the Participant pays the Excise Tax so that the Participant's net after-tax proceeds with respect to the payment of the Payments are maximized.

Potential Increase in Benefits. Notwithstanding any other provision of this Section 43.3, if (i) there is a reduction in the payments to a Participant as described in this Section 43.3, (ii) the IRS later determines that the Participant is liable for the Excise Tax, the payment of which would result in the maximization of the Participant's net after-tax proceeds (calculated as if the Participant's benefits had not previously been reduced), and (iii) the Participant pays the Excise Tax, then the Company shall pay to the Participant those payments which were reduced pursuant to this Section 4 3.3 as soon as administratively possible after the Participant pays the Excise Tax so that the Participant's net after-tax proceeds with respect to the payment of the Payments are maximized.