Common use of Right to Tax Refund Clause in Contracts

Right to Tax Refund. If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2 Employee becomes entitled to receive any refund with respect to such claim, Employee shall (subject to the Company's complying with the requirements of Section 2.2(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2(c), a determination is made that Employee is not entitled to a refund with respect to such claim and the Company does not notify Employee in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall, to the extent of such denial, be forgiven and shall not be required to be repaid and the amount of forgiven advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 12 contracts

Samples: Executive Severance Agreement (Province Healthcare Co), Change in Control Agreement (Bancorpsouth Inc), Executive Severance Agreement (Province Healthcare Co)

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Right to Tax Refund. If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2 6.2 Employee becomes entitled to receive any refund with respect to such claim, Employee shall (subject to the Company's complying with the requirements of Section 2.2(c6.2(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2(c6.2(c), a determination is made that Employee is not entitled to a refund with respect to such claim and the Company does not notify Employee in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall, to the extent of such denial, be forgiven and shall not be required to be repaid and the amount of forgiven advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 7 contracts

Samples: Employment Agreement (PMT Services Inc /Tn/), Employment Agreement (PMT Services Inc /Tn/), Employment Agreement (Ipayment Inc)

Right to Tax Refund. If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2 11.5 Employee becomes entitled to receive any refund with respect to such claim, Employee shall (subject to the Company's complying with the requirements of Section 2.2(c11.5(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2(c11.5(c), a determination is made that Employee is not entitled to a refund with respect to such claim and the Company does not notify Employee in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall, to the extent of such denial, be forgiven and shall not be required to be repaid and the amount of forgiven advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 4 contracts

Samples: Employment Agreement (Service Experts Inc), Employment Agreement (Service Experts Inc), Employment Agreement (Service Experts Inc)

Right to Tax Refund. If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2 Employee becomes entitled to receive any refund with respect to such claim, Employee shall (subject to the Company's complying with the requirements of Section 2.2(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2(c), a determination is made that Employee is not entitled to a refund with respect to such claim and the Company does not notify Employee in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall, to the extent of such denial, be forgiven and shall not be required to be repaid and the amount of forgiven advance shall offset, to the extent thereof, the amount of Gross-Gross- Up Payment required to be paid.

Appears in 4 contracts

Samples: Change in Control Agreement (Bancorpsouth Inc), Change in Control Agreement (Bancorpsouth Inc), Change in Control Agreement (Bancorpsouth Inc)

Right to Tax Refund. If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2 Exhibit B, Employee becomes entitled to receive any refund with respect to such claim, Employee shall (subject to the Company's ’s complying with the requirements of Section 2.2(cParagraph (c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by Employee of an amount advanced by the Company pursuant to Section 2.2(cParagraph (c), a determination is made that Employee is not entitled to a refund with respect to such claim and the Company does not notify Employee in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall, to the extent of such denial, be forgiven and shall not be required to be repaid and the amount of forgiven advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 2 contracts

Samples: Employment Agreement (Team Finance LLC), Employment Agreement (Team Finance LLC)

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Right to Tax Refund. If, after the receipt by Employee the Executive of an amount advanced by the Company pursuant to Section 2.2 Employee 3, the Executive becomes entitled to receive any refund with respect to such claim, Employee the Executive shall (subject to the Company's complying with the requirements of Section 2.2(c3(b)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after net of any taxes applicable theretopaid by the Executive). If, after the receipt by Employee the Executive of an amount advanced by the Company pursuant to Section 2.2(c3(b), a determination is made that Employee the Executive is not entitled to a refund with respect to such claim and the Company does not notify Employee the Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 thirty (30) calendar days after such determination, then such advance shall, to the extent of such denial, be forgiven and shall not be required to be repaid and the amount of the forgiven advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 2 contracts

Samples: Management Change of Control Severance Agreement (Cabelas Inc), Management Change of Control Severance Agreement (Cabelas Inc)

Right to Tax Refund. If, after the receipt by Employee the Executive of an amount advanced by the Company pursuant to Section 2.2 Employee 3, the Executive becomes entitled to receive any refund with respect to such claim, Employee the Executive shall (subject to the Company's ’s complying with the requirements of Section 2.2(c3(b)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after net of any taxes applicable theretopaid by the Executive). If, after the receipt by Employee the Executive of an amount advanced by the Company pursuant to Section 2.2(c3(b), a determination is made that Employee the Executive is not entitled to a refund with respect to such claim and the Company does not notify Employee the Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 thirty (30) calendar days after such determination, then such advance shall, to the extent of such denial, be forgiven and shall not be required to be repaid and the amount of the forgiven advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Management Change of Control Severance Agreement (Cabelas Inc)

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