Common use of Reduction of Payment Clause in Contracts

Reduction of Payment. If, as provided in Appendix B, Executive would otherwise be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code, the amounts payable under this Agreement shall be reduced as provided in Appendix B.

Appears in 12 contracts

Sources: Employment Agreement (Plato Learning Inc), Employment Agreement (Plato Learning Inc), Employment Agreement (Plato Learning Inc)