Common use of Taxation of Payments and Benefits Clause in Contracts

Taxation of Payments and Benefits. The Parent shall undertake to make deductions, withholdings and tax reports with respect to payments and benefits under this Agreement to the extent that it reasonably and in good faith believes that it is required to make such deductions, withholdings and tax reports. Payments under this Agreement shall be in amounts net of any such deductions and withholdings. Nothing in this Agreement shall be construed to require the Parent to make any payments to compensate the Executive for any adverse tax effect associated with any payments or benefits or for any deductions or withholding from any payment or benefit.