Tax Gross-Up Payment. If it shall be determined that any payment to Executive pursuant to this Agreement or any other payment or benefit from the Company, any Affiliate, any shareholder of the Company or any other Person would be subject to the excise tax imposed by Section 4999 of the Code or any similar tax payable under any United States federal, state, local or other law, then Executive shall receive a Tax Gross-Up Payment with respect to all such excise taxes and similar taxes.
Appears in 2 contracts
Samples: Executive Employment Agreement (O2 Secure Wireless, Inc.), Executive Employment Agreement (O2 Secure Wireless, Inc.)
Tax Gross-Up Payment. If In the event it shall be determined that any payment to the Executive pursuant to this Agreement or any other payment or benefit from the Company, any Affiliateaffiliate of the Company, any shareholder of the Company or any other Person person would be subject to the excise tax imposed by Section 4999 of the Code or any similar tax payable under any United States federal, state, local or other lawlaw (collectively, the "Excise Tax"), then the Executive shall be entitled to receive a Tax Gross-Up Payment with respect to all such excise taxes and similar taxesthe Excise Tax.
Appears in 2 contracts
Samples: Employment Agreement (Salton Maxim Housewares Inc), Employment Agreement (Salton Maxim Housewares Inc)
Tax Gross-Up Payment. If it shall be determined that any payment to Executive pursuant to this Agreement or any other payment or benefit from the Company, any Affiliate, any shareholder of the Company or any other Person person would be subject to the excise tax imposed by Section 4999 of the Code or any similar tax payable under any United States federal, state, local or other law, then Executive shall receive a Tax Gross-Up Payment with respect to all such excise taxes and similar taxes.
Appears in 2 contracts
Samples: Employment Agreement (3m Co), Employment Agreement (Minnesota Mining & Manufacturing Co)
Tax Gross-Up Payment. If In the event it shall be determined that any payment to the Executive pursuant to this Agreement or any other payment or benefit from the Company, any Affiliateaffiliate of the Company, any shareholder of the Company or any other Person person would be subject to the excise tax imposed by Section 4999 of the Code or any similar tax payable under any United States federal, state, local or other lawlaw (collectively, the "Excise Tax"), then the Executive shall be entitled to receive a Tax Gross-Up Payment with respect to all such excise taxes and similar taxesthe Excise Tax. ARTICLE VII.
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