Timing of Gross-Up Payment. The Gross-Up Payments provided for in -------------------------- this Exhibit B shall be made upon the earlier of (i) the payment to the Key Executive of any Payment or (ii) the imposition upon the Key Executive or payment by the Key Executive of any Excise Tax.
Timing of Gross-Up Payment. Subject to the foregoing provisions of this Section 4.5 that may require earlier payment, any Gross-Up Payment shall be paid to or for the benefit of Employee by December 31 of the calendar year following the calendar year in which the Excise Tax is remitted, or, if no Excise Tax is remitted, by December 31 of the calendar year following the calendar year in which there is a final and nonappealable settlement or other resolution of an audit or litigation relating to the Excise Tax.
Timing of Gross-Up Payment. A new sentence shall be inserted into the Employment Agreement at the end of Section 3.5(b), to read: “Any Gross-Up Payment under this Agreement shall be paid to the Employee no later than the end of the Employee’s taxable year following the calendar year in which the Excise Tax is remitted to the taxing authorities.”
Timing of Gross-Up Payment. At the end of Section 5.7.(b) of the Employment Agreement, the following language shall be added: “Any Gross-Up Payment under this Agreement shall be paid to the Executive no later than the end of the Executive’s taxable year following the calendar year in which the Excise Tax is remitted to the taxing authorities.”
Timing of Gross-Up Payment. A Gross Up Payment shall be made by the Company promptly after either the Company or the Company’s independent accountants determine that any payments and benefits called for under this Agreement together with any other payments and benefits made available to Executive by the Company and any other person will result in Executive’s being subject to an excise tax under § 4999 of the Code or such an excise tax is assessed against Executive as a result of any such payments and other benefits; provided, however, that payment of the Gross Up Payment shall be delayed to the minimum extent necessary to comply with § 409A of the Code and any applicable related regulations, Internal Revenue Service rulings and case law.
Timing of Gross-Up Payment. Any Gross-Up Payment hereunder shall be paid within ten days of the date that it is determined that such payment is due to Employee.
Timing of Gross-Up Payment. In general, the Company shall make any Gross-Up Payment due to the Executive under Section 1 of this Agreement prior to the time the Excise Tax is required to be paid by the Executive or withheld by the Company; provided, however, that in any event, the Gross-Up Payment shall be made by the end of the Executive’s taxable year next following the Executive’s taxable year during which the Executive remits the Excise Tax related to the Gross-Up Payment.
Timing of Gross-Up Payment. The Gross-Up Payments provided for in this Exhibit B shall be made upon the earlier of (i) the payment to the Key Executive of any Payment or (ii) the imposition upon the Key Executive or payment by the Key Executive of any Excise Tax.
Timing of Gross-Up Payment. The Gross Up Payment which is due to be paid to the Executive shall be paid in a single lump sum cash payment which shall be made as of the later of (1) December 31 of the calendar year during which the Change of Control occurs, or (2) the date which is five (5) days after the date on which the Independent Tax Counsel completes his calculations and determinations with respect to such Gross-Up Payment, but in no event later than March 15th of the calendar year following the calendar year during which the Change of Control occurs.
Timing of Gross-Up Payment. A Gross Up Payment shall be made by the Company promptly after either the Company or the Company’s independent accountants determine that any payments and benefits called for under this Agreement together with any other payments and benefits made available to Executive by the Company and any other person will result in Executive’s being subject to an excise tax under § 4999 of the Code or such an excise tax is assessed against Executive as a result of any such payments and other benefits. Payment of any Gross Up Payment hereunder shall be delayed to the minimum extent necessary to comply with §409A of the Code and any applicable related regulations, Internal Revenue Service rulings and case law, provided that in no event shall payment be made later than the end of the calendar year immediately following the calendar year in which the Executive (or the Company on behalf of the Executive) pays the excise tax under § 4999 of the Code.
