Subsequent Recalculation. In the event the Internal Revenue Service adjusts the excise tax computation of PCFC, as provided in Section 6.1 herein, such that the Executive is liable for the payment of a greater excise tax under Sections 280G and 4999 of the Code, or such that the Executive does not receive the full benefit that he or she would have received, PCFC shall reimburse the Executive for the full amount necessary to make the Executive whole (less any amounts received by the Executive that he or she would not have received had the computation initially been computed as subsequently adjusted), including the value of the excise tax and all corresponding interest and penalties due to the Internal Revenue Service.
Appears in 11 contracts
Samples: Key Executive Change in Control Severance Agreement (Pacific Century Financial Corp), Change in Control Severance Agreement (Pacific Century Financial Corp), Severance Agreement (Pacific Century Financial Corp)
