Potential Reduction in Payments. Notwithstanding any other provision of the Agreement to the contrary, if any Payment would be subject to the Excise Tax, then the Payment shall be either (1) delivered in full pursuant to the terms of this Agreement or (2) reduced in accordance with this Section 7(f) to the extent necessary to avoid the Excise Tax, based on which of (1) or (2) would result in the greater Net After-Tax Receipt to Executive. For purposes of this Section 7(f):
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Samples: Employment Agreement (Parker Drilling Co /De/), Employment Agreement (Parker Drilling Co /De/), Employment Agreement (Parker Drilling Co /De/)
Potential Reduction in Payments. Notwithstanding any other provision of the this Agreement to the contrary, if any Payment would be subject to the Excise Tax, then the Payment shall be either
(1) delivered in full pursuant to the terms of this Agreement or
(2) reduced in accordance with this Section 7(f) to the extent necessary to avoid the Excise Tax, based on which of (1) or (2) would result in the greater Net After-Tax Receipt to Executive. For purposes of this Section 7(f):
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