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(iii) \u201cNet After Tax Receipt\u201d shall mean the \u201cPresent Value\u201d (as defined below) of a Payment net all of federal, state and local taxes imposed on the Executive with respect thereto (including without limitation under Section 4999 of the Internal Revenue Code of 1986, as amended (the \u201cCode)), determined by applying the highest marginal rates of such taxes that applied to the Executive\u2019s taxable income for the immediately preceding taxable year, or such other rate(s) as the Executive shall in his sole discretion certify as likely to apply to the Executive in the relevant tax year(s); (iv) \u201cPresent Value\u201d shall mean such value determined in accordance with Section 280G(d)(4) of the Code; and (v) \u201cReduced Amount\u201d shall mean the smallest aggregate amount of Agreement Payments which (A) is less than the sum of all Agreement Payments and (B) results in aggregate Net After Tax Receipts which are equal to or greater than the Net After Tax Receipts which would result if the aggregate Agreement Payments were any other amount less than the sum of all Agreement Payments.", "hash": "9c09cdc6fe0c628db4515f398255cb5d", "id": 3}, {"snippet_links": [{"key": "pursuant-to-this-agreement", "type": "clause", "offset": [32, 58]}, {"key": "reduced-amount", "type": "definition", "offset": [95, 109]}, {"key": "amount-of-payments", "type": "clause", "offset": [126, 144]}, {"key": "present-value", "type": "clause", "offset": [156, 169]}, {"key": "equal-to", "type": "definition", "offset": [178, 186]}, {"key": "the-executive", "type": "clause", "offset": [198, 211]}, {"key": "base-amount", "type": "clause", "offset": [215, 226]}, {"key": "code-section", "type": "definition", "offset": [259, 271]}, {"key": "in-accordance-with", "type": "definition", "offset": [338, 356]}, {"key": "internal-revenue-code-of-1986", "type": "definition", "offset": [438, 467]}, {"key": "as-amended", "type": "definition", "offset": [469, 479]}], "size": 12, "samples": [{"hash": "4hVrDX783Ay", "uri": "/contracts/4hVrDX783Ay#agreement-payment", "label": "Employment Agreement (Pantry Inc)", "score": 25.5749492645, "published": true}, {"hash": "b7JJqQI0CBJ", "uri": "/contracts/b7JJqQI0CBJ#agreement-payment", "label": "Employment Agreement (Pantry Inc)", "score": 25.0793972015, "published": true}, {"hash": "l7wFKioVtfx", "uri": "/contracts/l7wFKioVtfx#agreement-payment", "label": "Employment Agreement (Pantry Inc)", "score": 24.0280628204, "published": true}], "snippet": "means a Payment paid or payable pursuant to this Agreement (disregarding this Section); (iii) \"Reduced Amount\" shall mean the amount of Payments that has a Present Value that is equal to 2.99 times the Executive\u2019s \u201cbase amount,\u201d as that term is defined under Code Section 280G(b)(3); (iv) \"Present Value\" shall mean such value determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of Code; and (v) \u201cCode\u201d shall mean the Internal Revenue Code of 1986, as amended.", "hash": "5afb19089e669811edc0875bfc451f60", "id": 4}, {"snippet_links": [{"key": "pursuant-to-this-agreement", "type": "clause", "offset": [32, 58]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [70, 96]}, {"key": "acceleration-of-vesting-of-equity-awards", "type": "clause", "offset": [102, 142]}], "size": 11, "samples": [{"hash": "bS2EKJErJ6m", "uri": "/contracts/bS2EKJErJ6m#agreement-payment", "label": "Employment Agreement (Mabvax Therapeutics Holdings, Inc.)", "score": 27.2970561981, "published": true}, {"hash": "b5Kk9smh0ZZ", "uri": "/contracts/b5Kk9smh0ZZ#agreement-payment", "label": "Employment Agreement (Mabvax Therapeutics Holdings, Inc.)", "score": 27.2861061096, "published": true}, {"hash": "2DtX1v4DzKR", "uri": "/contracts/2DtX1v4DzKR#agreement-payment", "label": "Employment Agreement (Mabvax Therapeutics Holdings, Inc.)", "score": 26.6098556519, "published": true}], "snippet": "means a Payment paid or payable pursuant to this Agreement including, for the avoidance of doubt, any acceleration of vesting of equity awards.", "hash": "ec1f3d8121d27bfd88b28ea6eca49123", "id": 5}, {"snippet_links": [{"key": "pursuant-to-this-agreement", "type": "clause", "offset": [32, 58]}, {"key": "net-after", "type": "definition", "offset": [95, 104]}, {"key": "present-value", "type": "clause", "offset": [133, 146]}, {"key": "all-taxes", "type": "clause", "offset": [167, 176]}, {"key": "sections-1", "type": "clause", "offset": [225, 235]}, {"key": "the-code", "type": "clause", "offset": [248, 256]}, {"key": "state-and-local-laws", "type": "clause", "offset": [278, 298]}, {"key": "highest-marginal-rate", "type": "definition", "offset": [327, 348]}, {"key": "section-1", "type": "clause", "offset": [355, 364]}, {"key": "to-executive", "type": "clause", "offset": [422, 434]}, {"key": "taxable-income", "type": "clause", "offset": [437, 451]}, {"key": "taxable-year", "type": "clause", "offset": [482, 494]}, {"key": "as-executive", "type": "clause", "offset": [518, 530]}, {"key": "sole-discretion", "type": "clause", "offset": [561, 576]}, {"key": "to-apply", "type": "clause", "offset": [588, 596]}, {"key": "relevant-tax", "type": "definition", "offset": [617, 629]}, {"key": "the-auditor", "type": "clause", "offset": [771, 782]}, {"key": "independent-auditor", "type": "definition", "offset": [795, 814]}, {"key": "professional-services", "type": "definition", "offset": [836, 857]}, {"key": "certified-public-accounting-firm", "type": "definition", "offset": [881, 913]}, {"key": "for-purposes-of-section", "type": "clause", "offset": [973, 996]}, {"key": "by-the-company", "type": "clause", "offset": [1023, 1037]}, {"key": "without-executive", "type": "clause", "offset": [1103, 1120]}, {"key": "the-individual", "type": "clause", "offset": [1179, 1193]}, {"key": "change-in-control", "type": "definition", "offset": [1225, 1242]}, {"key": "parachute-value", "type": "definition", "offset": [1265, 1280]}, {"key": "date-of-the-change-of-control", "type": "definition", "offset": [1334, 1363]}, {"key": "parachute-payment", "type": "clause", "offset": [1456, 1473]}, {"key": "the-accounting-firm", "type": "clause", "offset": [1518, 1537]}, {"key": "excise-tax", "type": "clause", "offset": [1597, 1607]}, {"key": "will-apply-to", "type": "clause", "offset": [1608, 1621]}, {"key": "reduced-amount", "type": "definition", "offset": [1645, 1659]}, {"key": "agreement-payments", "type": "clause", "offset": [1686, 1704]}, {"key": "all-agreement", "type": "clause", "offset": [1773, 1786]}, {"key": "in-aggregate", "type": "definition", "offset": [1812, 1824]}, {"key": "tax-receipts", "type": "clause", "offset": [1835, 1847]}, {"key": "all-payments", "type": "definition", "offset": [1852, 1864]}, {"key": "the-net", "type": "clause", "offset": [1887, 1894]}, {"key": "value-of-agreement", "type": "clause", "offset": [1974, 1992]}], "size": 11, "samples": [{"hash": "lJWDtbspTr9", "uri": "/contracts/lJWDtbspTr9#agreement-payment", "label": "Employment Agreement (Virtu Financial, Inc.)", "score": 33.1279945374, "published": true}, {"hash": "8anMPuoV7gN", "uri": "/contracts/8anMPuoV7gN#agreement-payment", "label": "Employment Agreement (Virtu Financial, Inc.)", "score": 33.1279945374, "published": true}, {"hash": "63V0NcqBKFc", "uri": "/contracts/63V0NcqBKFc#agreement-payment", "label": "Employment Agreement (Virtu Financial, Inc.)", "score": 33.1279945374, "published": true}], "snippet": "means a Payment paid or payable pursuant to this Agreement (disregarding this Paragraph); (3) \u201cNet After-Tax Receipt\u201d shall mean the Present Value of a Payment net of all taxes imposed on Executive with respect thereto under Sections 1 and 4999 of the Code and under applicable state and local laws, determined by applying the highest marginal rate under Section 1 of the Code and under state and local laws which applied to Executive\u2019s taxable income for the immediately preceding taxable year, or such other rate(s) as Executive shall certify, in Executive\u2019s sole discretion, as likely to apply to Executive in the relevant tax year(s); (4) \u201cAccounting Firm\u201d shall mean the Company\u2019s regular auditor, unless Executive objects to the use of that auditor, in which event the auditor shall be an independent auditor or other independent professional services organization that is a certified public accounting firm recognized as an expert in determinations and calculations for purposes of Section 280G of the Code selected by the Company and reasonably acceptable to Executive, which auditor shall not, without Executive\u2019s consent, be a firm serving as accountant or auditor for the individual, entity or group effecting the Change in Control (the \u201cAuditor\u201d); (5) \u201cParachute Value\u201d of a Payment shall mean the present value as of the date of the change of control for purposes of Section 280G of the Code of the portion of such Payment that constitutes a \u201cparachute payment\u201d under Section 280G(b)(2), as determined by the Accounting Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment; and (6) \u201cReduced Amount\u201d shall mean the amount of Agreement Payments that (x) has a Present Value that is less than the Present Value of all Agreement Payments and (y) results in aggregate Net After-Tax Receipts for all Payments that are greater than the Net After-Tax Receipts for all Payments that would result if the aggregate Present Value of Agreement Payments were any other amount that is less than the Present Value of all Agreement Payments.", "hash": "bf66d5f962b628f710527ea2d5e52717", "id": 6}, {"snippet_links": [{"key": "pursuant-to-this-agreement", "type": "clause", "offset": [32, 58]}, {"key": "net-after-tax-receipt", "type": "clause", "offset": [95, 116]}, {"key": "present-value", "type": "clause", "offset": [133, 146]}, {"key": "all-taxes", "type": "clause", "offset": [167, 176]}, {"key": "sections-1", "type": "clause", "offset": [224, 234]}, {"key": "internal-revenue-code-of-1986", "type": "definition", "offset": [251, 280]}, {"key": "as-amended", "type": "definition", "offset": [282, 292]}, {"key": "highest-marginal-rate", "type": "definition", "offset": [334, 355]}, {"key": "section-1", "type": "clause", "offset": [362, 371]}, {"key": "the-code", "type": "clause", "offset": [375, 383]}, {"key": "to-the-employee", "type": "definition", "offset": [398, 413]}, {"key": "taxable-income", "type": "clause", "offset": [416, 430]}, {"key": "taxable-year", "type": "clause", "offset": [461, 473]}, {"key": "in-accordance-with", "type": "definition", "offset": [529, 547]}, {"key": "safe-harbor", "type": "clause", "offset": [590, 601]}, {"key": "sum-of", "type": "clause", "offset": [618, 624]}, {"key": "base-amount", "type": "clause", "offset": [669, 680]}, {"key": "meaning-of", "type": "clause", "offset": [693, 703]}], "size": 9, "samples": [{"hash": "fnCgYOZ4bEq", "uri": "/contracts/fnCgYOZ4bEq#agreement-payment", "label": "Employment Agreement (Smith International Inc)", "score": 18.0, "published": true}, {"hash": "a6VdNxpOteA", "uri": "/contracts/a6VdNxpOteA#agreement-payment", "label": "Employment Agreement (Smith International Inc)", "score": 18.0, "published": true}, {"hash": "725ITK1xDSd", "uri": "/contracts/725ITK1xDSd#agreement-payment", "label": "Employment Agreement (Smith International Inc)", "score": 18.0, "published": true}], "snippet": "means a Payment paid or payable pursuant to this Agreement (disregarding this Section); 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(iii) \"Present Value\" shall mean such value determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the Internal Revenue Code of 1986, as amended (the \"Code\"); and (iv) \"Reduced Amount\" shall mean an amount expressed in Present Value that maximizes the aggregate Present Value of Agreement Payments without causing any Payment to be nondeductible by the Company because of Section 280G of the Code.", "hash": "b24884fb3c19e807903859ff866db469", "id": 10}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIaYWdyZWVtZW50LXBheW1lbnQjMDAwMDAwMGEMogECZW4YACAA", "definition": {"size": 233, "snippet": "means a Payment paid or payable pursuant to this Agreement.", "title": "Agreement Payment", "id": "agreement-payment", "examples": ["Each of the following shall constitute an Event of Default under this Agreement: Payment Default.", "In the event the Company shall make an <strong>Agreement Payment</strong> to the Employee that would constitute a Parachute Payment, the Employee shall return such payment to the Company (together with interest at the rate set forth in Section 1274(b)(2)(B) of the Code).", "During any period in which an <strong>Agreement Payment</strong> to Executive is deferred pursuant to the foregoing, Executive shall be entitled to interest on the deferred <strong>Agreement Payment</strong> at a per annum rate equal to the highest rate of interest applicable to six (6)-month non-callable certificates of deposit with daily compounding offered by the following institutions: Citibank N.A., \u2587\u2587\u2587\u2587\u2587 Fargo Bank, N.A. or Bank of America, on the date of such separation from service.", "During any period in which an <strong>Agreement Payment</strong> to Employee is deferred pursuant to the foregoing, Employee shall be entitled to interest on the deferred <strong>Agreement Payment</strong> at a per annum rate equal to the highest rate of interest applicable to six (6)-month non-callable certificates of deposit with daily compounding offered by the following institutions: Citibank N.A., \u2587\u2587\u2587\u2587\u2587 Fargo Bank, N.A. or Bank of America, on the date of such separation from service.", "Any remaining amount with respect to the Class CE Certificates or any remaining Yield Maintenance <strong>Agreement Payment</strong> shall be treated as having been distributed to the Holders of the Class CE Certificates from the Grantor Trust.", "The Master Servicer shall deposit in the Reserve Fund on the date received by it, any Yield Maintenance <strong>Agreement Payment</strong> received from the Counterparty for the related Distribution Date.", "Upon the expiration of the applicable deferral period, any <strong>Agreement Payment</strong> which would have otherwise been made during that period (whether in a single sum or in installments) in the absence of this paragraph shall be paid to Executive or his beneficiary in one lump sum, including all accrued interest.", "All determinations made by the Accounting Firm under this Section 8 shall be binding upon the Company and the Executive and shall be made as soon as reasonably practicable and in no event later than 15 days following the date that there has been an <strong>Agreement Payment</strong> that would subject the Executive to the tax under Section 4999 of the Code (the \u201cExcise Tax\u201d).", "To The Note Rate Allowed Per The Loan Agreement Periodic Pay Adjustment Max-% 30 Numeric 0.03 Max Periodic % Increase To The P&amp;I Payment Allowed Per The Loan Agreement Periodic Pay Adjustment Max-$ 31 Numeric 5000.00 Max Periodic Dollar Increase To The P&amp;I Payment Allowed Per The Loan <strong>Agreement Payment</strong> Frequency 32 Numeric 1 1=Monthly, 3=Quarterly, 6=Semi-Annually, 12=Annually...", "All determinations made by the Accounting Firm under this Section 6 shall be binding upon the Company and Executive and shall be made as soon as reasonably practicable following an <strong>Agreement Payment</strong> becoming due."], "related": [["settlement-payment", "Settlement Payment", "Settlement Payment"], ["payment-agreement", "Payment Agreement", "Payment Agreement"], ["upfront-payment", "Upfront Payment", "Upfront Payment"], ["installment-payment", "Installment Payment", "Installment Payment"], ["paga-payment", "PAGA Payment", "PAGA Payment"]], "related_snippets": [], "updated": "2026-03-11T05:19:41+00:00"}, "json": true, "cursor": ""}}