TAX CALCULATION. Simultaneously with the Company's payment of the Special Termination Payment, the Company shall deliver to the Executive a written statement specifying the total amount of the Special Termination Payment and the Gross-Up Payment, together with all supporting calculations. If the Executive disagrees with the Company's calculation of either of said payments, the Executive shall submit to the Company, no later than 30 days after receipt of the Company's calculations, a written notice advising the Company of the disagreement and setting forth his calculation of said payments. The Executive's failure to submit such notice within such period shall be conclusively deemed to be an agreement by the Executive as to the amount of the Special Termination Payment and the Gross-Up Payment. If the Company agrees with the Executive's calculations, it shall pay any shortfall to the Executive within 20 days after receipt of such a notice from the Executive, together with interest thereon accruing at the rate of 18 percent per annum, compounded monthly, from the original due date of the Special Termination Payment through the actual date of payment of said shortfall. If the Company does not agree with the Executive's calculations, it shall provide the Executive with a written notice within 20 days after the receipt of the Executive's calculations advising the Executive that the disagreement is to be referred to an independent accounting firm for resolution. Such disagreement shall be referred to an independent "Big 5" accounting firm which is not the regular accounting firm of the Company and which is agreed to by the Company and the Executive within 10 days after issuance of the Company's notice of disagreement (if the parties cannot agree on the identity of the accounting firm which is to resolve the dispute, the accounting firm shall be selected by means of a coin toss conducted in Palm Beach County, Florida by counsel to the Executive on the first business day after such 10 day period in such manner as such counsel may specify). The accounting firm shall review all information provided to it by the parties and submit a written report setting forth its calculation of the Special Termination Payment and the Gross-Up Payment within 15 days after submission of the matter to it, and such decision shall be final and binding on all of the parties. The fees and expenses charged by said accounting firm shall be paid by the Company. If the amount of the Special Termination Payment...
TAX CALCULATION. States Taxes @ 6.00% $ 716 $ 824 $ 1,015 $ 1,279 Federal Taxes @ 35.00% 3,924 4,520 5,566 7,015 -------- -------- -------- -------- Total Taxes $ 4,639 $ 5,345 $ 6,582 $ 8,294 ======== ======== ======== ======== States Taxes @ 6.00% $ 1,734 $ 1,892 $ 2,146 $ 2,437 Federal Taxes @ 35.00% 9,506 10,375 11,769 13,362 -------- ------- ------- ------- Total Taxes $ 11,239 $12,267 $13,916 $15,799 ======== ======= ======= ======= ----------------- (1) As of 9/30/01, the Company had a NOL of $8.3 million. However, for purposes of this analysis, usage of this NOL has been excluded. Schedule 10.1(A)-13 SCHEDULE 10.1(B) SEPTEMBER 1999 CAPITAL CONTRIBUTION STOCKHOLDER CONTRIBUTION ------------ Whites' Family Company LLC 156.87944 Xxxx X. Xxxxx Xxxxxx X. Xxxxxxx 143.51712 Xxxxxx X. Xxxxxxx and Xxxxxx X. Xxxxxxx, Trustees Xxxxxxx Investments Limited Partnership Xxxxxxx Xxxxxx 31.65980 Xxxxxxxx Xxxxxxx Xxxx X. Xxxxxxx Xxxxxx Xxxxxxxx Xxxxx Xxxxx 9.89540 Xxxxxx Xxxxxx 8.31140 Xxxxxxx Xxxxx 8.31140 Xxxxxxx X. Xxxxxxxxx 7.91540 Xxxxx Xxxxxxx 7.91540 Xxxxxxxx Xxxxx 6.33140 Xxxxxx Xxxxxxx 3.97100 Xxxxxx Xxxxxxx 3.97059 Xxxxx X. Xxxxxx 3.57435 Xxxxxxx Xxxxx Xxxxxx Xxxxxxx 1.98230 Xxxxxx X. Xxxxxxx 1.76500 Xxxxxx X. Xxxxxx UTI Tax-Deferred Trust dd 2/24/97 JZEP 252.00000 UTI/TJC VOTING TRUST (b) Leucadia Investors, Inc. 63.00000 Xxxx X. Xxxxxx, XX Revocable Trust 39.46950 Xxxxx X. Xxxxxxxxx 39.46950 Xxxxxxxx X. Xxxxxxx 33.83100 A. Xxxxxxx Xxxxxx 25.20000 Xxxx X. Max 25.20000 The Xxxxxx Family Trust Xxxx X. Xxxxxx 18.90000 Xxxxxxx X. Xxxx 3.78000 Xxxx Xxxxxxxx Profit Sharing Plan & Trust 2.52000 Xxxxx X. Xxxxxx Xx. Profit Sharing Plan & Trust 0.63000 --------- TOTALS 900.00000 ========= Schedule 10.1(B) PREFERRED STOCKHOLDER SERIES C --------------- ---------- UTI SHAREHOLDERS Whites' Family Company LLC 732.10420 Xxxx X. Xxxxx ------------- TOTAL WHITE 732.10420 ------------- Xxxxxx X. Xxxxxxx 540.33034 ------------- TOTAL XXXXXXX 540.33034 ------------- Xxxxxxx Xxxxxx - Xxxxxxxx Xxxxxxx - Xxxx X. Xxxxxxx - Xxxxxx Xxxxxxxx - Xxxxx Xxxxx 26.27171 Xxxxxx Xxxxxx 25.62888 Xxxxxxx Xxxxx - Xxxxxxx X. Xxxxxxxxx 9.93851 Xxxxx Xxxxxxx - Xxxxxxxx Xxxxx 10.77974 Xxxxxx Xxxxxxx - Xxxxxx Xxxxxxx 4.02941 Xxxxx X. Xxxxxx 16.67700 Xxxxxxx Xxxxx - Xxxxxx Xxxxxxx 9.25074 Xxxxxx X. Xxxxxxx 8.23500 Xxxxxx X. Xxxxxx - UTI Tax-Deferred Trust dd 2/24/99 464.75447 ------------- TOTAL UTI SHARES INCL. WHITE & XXXXXXX 1,848.00000 ------------- THE JORDAN COMPANY & JZEP JZEP Preferred Holdings Limited 1,17...
TAX CALCULATION. If in any tax year commencing with the fiscal year 2000, the real estate taxes on the land and buildings, of which the Premises are a part, are in excess of the amount of the real estate taxes thereon for the fiscal year 1999 (the "Base Year"), LESSEE will pay to LESSOR as additional rent hereunder, within seven (7) days of notice in writing by LESSOR, Forty-Five and one-half percent (45.5%) ("LESSEE'S SHARE") of such excess that may occur in each year of the term of this lease or any extension or renewal thereof and proportionately for any part of a fiscal year. If the LESSOR obtains an abatement of any such excess real estate tax, a proportionate share of such abatement, less the proportionate share of reasonable fees and costs incurred in obtaining the same, if any, shall be refunded to the LESSEE.
TAX CALCULATION. Abraxas has calculated and provided to the Unaffiliated Unitholders an estimate, based on the best information available, of certain tax results of the transactions contemplated by this Agreement (the “Tax Calculation”). Abraxas agrees to utilize the methodology used in the Tax Calculation previously provided.
TAX CALCULATION. The Company shall have submitted to Parent a calculation of income tax payable by the Common Stock Holders attributable to their A-44 ownership of Company Common Stock in form and substance reasonably satisfactory to Parent ("Tax Calculation").
TAX CALCULATION. The Company shall have submitted to Parent the Tax Calculation in form and substance reasonably satisfactory to Parent.
TAX CALCULATION. Simultaneously with the Company's payment of the Special Termination Payment, the Company shall deliver to the Executive a written statement specifying the total amount of the Special Termination Payment and the Gross-Up Payment, together with all supporting calculations. If the Executive
TAX CALCULATION. Subject to the provisions of the following Section 6(c) and except as may otherwise be agreed to by the Company and Executive, the amount or amounts (if any) payable under Section 6(a) shall be as conclusively determined by the Company’s independent public accountants (the “Accountants”), whose determination or determinations shall be final and binding on all parties. Executive hereby agrees to utilize such determination or determinations, as applicable, in filing all tax returns with respect to the excise tax imposed by Section 4999 of the Code, if any. If the Accounts fail or refuse to make the required determinations for any reason, then such determinations shall be made by a comparable firm or group of national or regional reputation selected by the Compensation Committee of the Board of Directors of the Company. All fees and expenses of the Accountant or its replacement shall be paid by the Company.
TAX CALCULATION. Borrower shall be permitted to make periodic tax distributions pursuant to Section 6.4(f) of the Credit Agreement (i) prior to the consummation of the Initial Public Offering to each of its members in an amount not to exceed in any year an amount equal to such member’s aggregate tax obligations arising with respect to the Consolidated Net Income of Borrower and its Subsidiaries allocable to such member for such year calculated based on the highest effective consolidated federal, state and local income tax rate applicable to ordinary income of corporations and (ii) after the consummation of the Initial Public Offering, to its members pursuant to Section 4.2 of the LLC Agreement, in connection with such members’ (or their respective direct or indirect owners’) aggregate income tax obligations arising from the allocation to such members of taxable income that is earned by Borrower and its Subsidiaries, which distributions in any year shall not exceed an amount equal to (A) the taxable income of Borrower and its Subsidiaries (calculated without taking into account (x) any Disproportionate Depreciation Deductions, (y) any deductions accruing to any member as a result of the recovery of Basis Adjustments (as defined in the Tax Receivable Agreement) pursuant to Section 743 of the Code and (z) amounts treated, for federal income tax purposes, as paid by Borrower pursuant to the Tax Receivable Agreement that are treated as “guaranteed payments” within the meaning of Section 707(c) of the Code), multiplied by (B) the higher of (1) the maximum federal and applicable state and local corporate income tax rates and (2) if applicable to income of Borrower that is allocated to any direct or indirect members of Borrower, the maximum federal and applicable state and local individual income tax rates, in each case, using appropriate conventions for calculation of state and local Taxes (including, without limitation, calculation of state and local taxable income in the same manner as federal taxable income, and the use of an assumed combined state and local tax rate of 5 (five) percent). As used herein, the following terms shall have the meanings ascribed to such terms below:
TAX CALCULATION. Taxes will be calculated based on the billing information you provide at the time of purchase.
