Common use of Right to Consult a Tax Advisor Clause in Contracts

Right to Consult a Tax Advisor. Notwithstanding any contrary provision in this Agreement, the Executive shall be solely responsible for any risk that the tax treatment of all or part of any payments provided by this Agreement may be affected by Code Section 409A, which may impose significant adverse tax consequences on him, including accelerated taxation, a 20% additional tax, and interest. Because of the potential tax consequences, the Executive has the right, and is encouraged by this paragraph, to consult with a tax advisor of his choice before signing this Agreement.

Appears in 6 contracts

Samples: Employment Agreement (Armstrong Coal Company, Inc.), Employment Agreement (Armstrong Coal Company, Inc.), Employment Agreement (Armstrong Energy, Inc.)

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Right to Consult a Tax Advisor. Notwithstanding any contrary other provision in this Agreement, the Executive Employee shall be solely responsible for any risk that the tax treatment of all or part of any payments provided by this Agreement may be affected by Code Section 409A, which may impose significant adverse tax consequences on him, including accelerated taxation, a 20% EMPLOYMENT AGREEMENT PAGE 18 additional tax, and interest. Because of the potential tax consequences, the Executive Employee has the right, and is encouraged by this paragraph, to consult with a tax advisor of his his/her choice before signing this Agreement.

Appears in 1 contract

Samples: Employment Agreement (ProFrac Holding Corp.)

Right to Consult a Tax Advisor. Notwithstanding any contrary provision in this Agreement, the Executive shall be solely responsible for any risk that the tax treatment of all or part of any payments provided by this Agreement may be affected by Code Section 409ASections 409A or 280G of the Code, which may impose significant adverse tax consequences on himconsequences, including accelerated taxation, a 20% additional tax, and interestexcept that Executive shall not be liable for any failure to report or failure to withhold penalties asserted against the Company. Because of the potential tax consequences, the Executive has the right, and is encouraged by this paragraph, to consult with a tax advisor of his his/her or her choice before signing this Agreement.

Appears in 1 contract

Samples: Release Agreement (Dresser-Rand Group Inc.)

Right to Consult a Tax Advisor. Notwithstanding any contrary provision in this Agreement, the Executive shall be solely responsible for any risk that the tax treatment of all or part of any payments provided by this Agreement may be affected by Section 409A of the Internal Revenue Code Section 409Aof 1986, as amended, which may impose significant adverse tax consequences on him, including accelerated taxation, a 20% additional tax, and interest. Because of the potential tax consequences, the Executive has the right, and is encouraged by this paragraph, to consult with a tax advisor of his choice before signing this AgreementRelease.

Appears in 1 contract

Samples: Separation Agreement (GeoMet, Inc.)

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Right to Consult a Tax Advisor. Notwithstanding any contrary provision in this Agreement, the Executive Employee shall be solely responsible for any risk that the tax treatment of all or part of any payments provided by this Agreement may be affected by Code Section 409A, which may impose significant adverse tax consequences on him, including accelerated taxation, a 20% additional tax, and interest. Because of the potential tax consequences, the Executive Employee has the right, and is encouraged by this paragraph, to consult with a tax advisor of his choice before signing this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Bonanza Creek Energy, Inc.)

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