Tax Adjustment. Should any payment made pursuant to this Agreement, including the payment of insurance premiums or any payment made by an insurer under an insurance policy, be deemed to constitute a taxable benefit or otherwise be or become subject to any tax or levy, then the Corporation will pay any amount necessary to ensure that the amount received by or on behalf of the Indemnified Party, after the payment of or withholding for tax, fully reimburses the Indemnified Party for the actual cost, expense or liability incurred by or on behalf of the Indemnified Party. However, the adjustment will not be made with respect to any compensation paid as a per diem to the Indemnified Party pursuant to Sections 5 or 6.
Appears in 5 contracts
Samples: Director and Officer Indemnification Agreement (Borealis Foods Inc.), Director and Officer Indemnity Agreement (Trulieve Cannabis Corp.), Director and Officer Indemnity Agreement (Trulieve Cannabis Corp.)
Tax Adjustment. Should any payment made pursuant to this Agreement, including the payment of insurance premiums or any payment made by an insurer under an insurance policy, be deemed to constitute a taxable benefit or otherwise be or become subject to any tax or levy, then the Corporation will pay any amount necessary to ensure that the amount received by or on behalf of the Indemnified Party, after the payment of or withholding for tax, fully reimburses the Indemnified Party for the actual cost, expense or liability incurred by or on behalf of the Indemnified Party. However, the adjustment foregoing sentence will not be made with respect apply to any compensation paid as a per diem to the Indemnified Party pursuant to Sections 5 6 or 610.
Appears in 3 contracts
Samples: Director and Officer Indemnification Agreement (Algoma Steel Group Inc.), Director and Officer Indemnification Agreement (Ovintiv Inc.), Director and Officer Indemnification Agreement (Encana Corp)
Tax Adjustment. Should any payment made pursuant to this Agreement, including the payment of insurance premiums or any payment made by an insurer under an insurance policy, be deemed to constitute a taxable benefit or otherwise be or become subject to any tax or levy, then the Corporation will pay any amount necessary to ensure that the amount received by or on behalf of the Indemnified Party, after the payment of or withholding for tax, fully reimburses the Indemnified Party for the actual cost, expense or liability incurred by or on behalf of the Indemnified Party. However, the adjustment foregoing sentence will not be made with respect apply to any compensation paid as a per diem to the Indemnified Party pursuant to Sections 5 or 6.
Appears in 1 contract
Samples: Director and Officer Indemnification Agreement (SMART Technologies Inc.)
