Reimbursement for Excise Tax. In the event that the Participant incurs any Excise Tax (as defined in the Participant’s Employment Agreement with the Company dated as of April 22, 2005 (the “Employment Agreement”)) on any payments or benefits under this Agreement, the Company shall gross-up the Participant the amount of such Excise Tax incurred in accordance with the provisions of Section 5(f) of the Employment Agreement (such provisions to apply irrespective of whether the Employment Agreement or its Term continues in effect at the time of such Excise Tax) and such Section 5(f) of the Employment Agreement relating to the Gross-Up Payment (as defined in the Employment Agreement) shall be incorporated with full effect into this Agreement, provided that any reference to “you” and to “this Agreement” in such Section 5(f) shall be deemed to refer to the “Participant” and this Restricted Stock Grant Agreement, respectively.
Appears in 12 contracts
Samples: Restricted Stock Grant Agreement (General Maritime Corp/), Restricted Stock Grant Agreement (General Maritime Corp/), Restricted Stock Grant Agreement (General Maritime Corp/)
Reimbursement for Excise Tax. In the event that the Participant incurs any Excise Tax (as defined in the Participant’s Employment Agreement with the Company dated as of April 22, 2005 or any successor agreement (such agreement or any successor agreement, the “Employment Agreement”)) on any payments or benefits under this Agreement, the Company shall gross-up the Participant the amount of such Excise Tax incurred in accordance with the provisions of Section 5(f) (or any similar provision with respect to a successor agreement) of the Employment Agreement (such provisions to apply irrespective of whether the Employment Agreement or its Term continues in effect at the time of such Excise Tax) and such Section 5(f) of the Employment Agreement relating to the Gross-Up Payment (as defined in the Employment Agreement) shall be incorporated with full effect into this Agreement, provided that any reference to “you” and to “this Agreement” in such Section 5(f) shall be deemed to refer to the “Participant” and this Restricted Stock Grant Agreement, respectively.
Appears in 9 contracts
Samples: Restricted Stock Grant Agreement (General Maritime Corp / MI), Restricted Stock Grant Agreement (General Maritime Corp / MI), Restricted Stock Grant Agreement (General Maritime Corp / MI)
Reimbursement for Excise Tax. In the event that the Participant incurs any Excise Tax (as defined in the Participant’s Employment Agreement with the Company dated as of April 22September 21, 2005 2007 (the “Employment Agreement”)) on any payments or benefits under this Agreement, the Company shall gross-up the Participant the amount of such Excise Tax incurred in accordance with the provisions of Section 5(f7(b) of the Employment Agreement (such provisions to apply irrespective of whether the Employment Agreement or its Term continues in effect at the time of such Excise Tax) and such Section 5(f7(b) of the Employment Agreement relating to the Gross-Up Payment (as defined in the Employment Agreement) shall be incorporated with full effect into this Agreement, provided that any reference to “you” and to “this Agreement” in such Section 5(f7(b) shall be deemed to refer to the “Participant” and this Restricted Stock Grant Agreement, respectively.
Appears in 3 contracts
Samples: Executive Officer Restricted Stock Grant Agreement (Genco Shipping & Trading LTD), Executive Officer Restricted Stock Grant Agreement (Genco Shipping & Trading LTD), Executive Officer Restricted Stock Grant Agreement (Genco Shipping & Trading LTD)
Reimbursement for Excise Tax. In the event that the Participant incurs any Excise Tax (as defined in the Participant’s 's Employment Agreement with the Company dated as of April 22September 21, 2005 2007 (the “Employment Agreement”)) on any payments or benefits under this Agreement, the Company shall gross-up the Participant the amount of such Excise Tax incurred in accordance with the provisions of Section 5(f7(b) of the Employment Agreement (such provisions to apply irrespective of whether the Employment Agreement or its Term continues in effect at the time of such Excise Tax) and such Section 5(f7(b) of the Employment Agreement relating to the Gross-Up Payment (as defined in the Employment Agreement) shall be incorporated with full effect into this Agreement, provided that any reference to “"you” " and to “"this Agreement” " in such Section 5(f7(b) shall be deemed to refer to the “"Participant” " and this Restricted Stock Grant Agreement, respectively.
Appears in 3 contracts
Samples: Executive Officer Restricted Stock Grant Agreement (Genco Shipping & Trading LTD), Executive Officer Restricted Stock Grant Agreement (Genco Shipping & Trading LTD), Executive Officer Restricted Stock Grant Agreement (Genco Shipping & Trading LTD)