Tax Reimbursement Provisions. (i) If, as the result of any of the compensation payments due hereunder or pursuant to any other agreement between the Company and the Employee, the Employee is required to pay an additional tax pursuant to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), (the “Additional Tax”), the Company shall pay the Employee an amount (the “409A Gross-Up Payment”) sufficient such that the net after tax amount of such 409A Gross-Up Payment after payment of all Federal, state and local taxes and any other additional taxes due on such 409A Gross-Up Payment is equal to the full amount of the original Additional Tax imposed under Section 409A.
Appears in 5 contracts
Samples: Employment Agreement (NCO Teleservices, Inc.), Employment Agreement (NCO Teleservices, Inc.), Employment Agreement (NCO Teleservices, Inc.)
