Net After Tax Receipts definition

Net After Tax Receipts means the Present Value of a Payment net of all taxes imposed on Executive with respect to that Payment under Sections 1 and 4999 of the Code, determined by applying the highest marginal rate under Section 1 of the Code that applied to Executive's taxable income for the immediately preceding taxable year;
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Net After Tax Receipts means the present value (determined pursuant to Section 280G(d)(4) of the Code) of Payments, net of (a) federal, state, and local income taxes payable with respect to the Payments, determined by applying the highest marginal income tax rate applicable to individuals in the year of the Executive’s termination of employment and by calculating state and local income taxes net of any federal income tax deduction for such taxes and (b) any excise tax payable with respect to such Payments pursuant to Section 4999 of the Code.
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Net After Tax Receipts means the amount of all parachute payments, net of all taxes imposed on the Executive under sections 1, 3101 and 4999 of the Code and any state or local income taxes applicable to the Executive, determined by applying the actual rate of federal, state and local income taxes and employment taxes that apply to the Executive's taxable income for the taxable year of the determination, which actual rate shall be supplied by the Executive; and
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Examples of Net After Tax Receipts in a sentence

  • It is the intention of the Company and the Participant to reduce the payments under this Plan only if the aggregate Net After Tax Receipts to the Participant would thereby be increased.

  • The Executive will receive the Reduced Amount if the Reduced Amount results in equal or greater Net After Tax Receipts than the Net After Tax Receipts that would result from the Executive receiving the total Parachute Payments.

  • It is the intention of the Company and the Executive to reduce the Parachute Payments under this Agreement and any other plan, agreement or arrangement only if the aggregate Net After Tax Receipts to the Executive would thereby be increased.

  • It is the intention of the Company and the Executive to reduce the payments under this Agreement and any other plan, agreement or arrangement only if the aggregate Net After Tax Receipts to the Executive would thereby be increased.

  • The Executive will receive the Reduced Amount if the Reduced Amount results in equal or greater Net After Tax Receipts than the Net After Tax Receipts that would result from the Executive receiving the total payments due.

  • If it is determined that the total payments should be reduced to the Reduced Amount, any reduction shall be in the order that would provide the Executive with the largest amount of Net After Tax Receipts (subject to the remainder of this sentence, pro rata if two alternatives provide the same result) and shall, to the extent permitted by Code Section 280G and 409A be designated by the Executive.

  • It is the intention of the Company and the Participants to reduce the amounts payable or distributable to a Participant hereunder if the aggregate Net After Tax Receipts (as defined below) to the Participant would thereby be increased, as a result of the application of the excise tax provisions of Section 4999 of the Code.

  • With respect to a Participant, the greatest aggregate amount of Separation Payments which (a) is less than the sum of all Separation 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 Participant were paid the sum of all Separation Payments.

  • It is the intention of the Company and Executive to reduce the payments under this Agreement and any other plan, agreement or arrangement only if the aggregate Net After Tax Receipts to Executive would thereby be increased.

  • Executive will receive the Reduced Amount if the Reduced Amount results in equal or greater Net After Tax Receipts than the Net After Tax Receipts that would result from Executive receiving the total payments due.


More Definitions of Net After Tax Receipts

Net After Tax Receipts means the Present Value of a payment under this Agreement net of all taxes imposed on you with respect thereto under Sections 1, 3101 and 4999 of the Code, determined by applying the highest marginal rate under Section 1 which applies to your taxable income for the applicable taxable year, (ii) "Present Value" means the value determined in accordance with Section 280G(d)(4) and (iii) Reduced Amount" means the largest aggregate amount of Bonus Payment under this Agreement which (a) is less than the sum of all Bonus Payments under this Agreement 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 Bonus Payments under this Agreement were any other amount less than the sum of all Bonus Payments to be made hereunder.
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Net After Tax Receipts means the amount of the Total Benefits plus the amount of the Gross-Up Payment, if any, net of all federal, state and local income and excise taxes imposed on the Total Benefits and the Gross-Up Payment. Any such reduction shall be made in the manner that results in the greatest economic benefit for the Executive. If more than one method of reduction will result in the same economic benefit, the method of reduction shall be determined by the Company.
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Net After Tax Receipts means the Present Value of a payment under this Agreement net of all taxes imposed on you with respect thereto under Sections 1, 3101 and 4999 of the Code, determined by applying the highest marginal rate under Section 1 which applies to your taxable income for the applicable taxable year, (ii) "Present Value" means the value determined in accordance with Section 280G(d)(4) and (iii) Reduced Amount" means the largest aggregate amount of Bonus Payment under this Agreement which (a) is less than the sum of all Bonus Payments under this Agreement 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 Bonus Payments under this Agreement were any other amount less than the sum of all Bonus Payments to be made hereunder. Section 409A. This Agreement is intended to comply with the applicable requirements of Section 409A of the Code by qualifying for the "short term deferral" exemption and shall be construed and interpreted in accordance therewith. EarthLink may at any time amend, suspend, or terminate this Agreement, or any payments to be made hereunder, as necessary to be in compliance with Section 409A of the Code. Notwithstanding the preceding sentence, EarthLink shall not be liable to you or any other person if the Internal Revenue Service or any court or other authority having jurisdiction over such matter determines for any reason that any amount under the Agreement is subject to taxes, penalties or interest as a result of failing to comply with Section 409A of the Code. If at any time when you are entitled to the Bonus Payment hereunder in connection with your Termination of Employment, to the extent necessary to comply with the "specified employee" rule of Section 409A of the Code, notwithstanding any other provision hereof, no payments may be made hereunder before the date which is six months after your separation from service or, if earlier, the date of your death. All such amounts which would have otherwise been required to be paid to you during such six months, or, if earlier, your death, shall be paid in one lump sum payment as soon as administratively practical after the date which is six months after your separation from service, or, if earlier, your death. This provision is intended to comply with, and shall be construed consistent with the meaning of, the "specified employee" rule of Section 409A of the Code.
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Net After Tax Receipts means the present value (determined pursuant to Section 280G(d)(4) of the Code) of Payments, net of (1) federal, state and local income taxes payable with respect to the Payments, determined by applying the highest marginal income tax rate applicable to individuals in the year of Employee's termination of employment and by calculating state and local income taxes net of any federal income tax deductions for such taxes, and (2) any excise tax payable with respect to such Payments pursuant to Section 4999 of the Code. (ii) All determinations made under this Section 7(g) shall be made by the Company's independent accounts immediately prior to the Change of Control which firm shall provide its determinations and any supporting calculations both to the Company and Employee within 15 days after the Termination Date. Any such determinations by the accounting firm shall be binding upon the Company and Employee. If the accounting firm determines that there exists a Reduced Amount, any reduction or elimination in Payments shall be applied first to those Payments that are determined otherwise to constitute "excess parachute payments" and are payable to Employee at the most distant point in time after the Termination Date.
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Related to Net After Tax Receipts

  • Net After-Tax Receipt means the present value (as determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the Code) 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’s taxable income for the immediately preceding taxable year, or such other rate(s) as the Accounting Firm determines to be likely to apply to Executive in the relevant tax year(s).

  • Net After-Tax Benefit means the Present Value of a Payment net of all federal state and local income, employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs.

  • Net After Tax Amount means the amount of any Parachute Payments or Capped Payments, as applicable, net of taxes imposed under Code Sections 1, 3101 (b) and 4999 and any State or local income taxes applicable to the Executive on the date of payment. The determination of the Net After Tax Amount shall be made using the highest combined effective rate imposed by the foregoing taxes on income of the same character as the Parachute Payments or Capped Payments, as applicable, in effect on the date of payment.

  • Net After-Tax Basis means, with respect to the Payments, either with or without reduction under subsection (a) (as applicable), the amount that would be retained by the Executive from such Payments after the payment of all Taxes.

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • After Tax Amount means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.

  • After-Tax Basis means, with respect to any payment to be received, the amount of such payment increased so that, after deduction of the amount of all taxes required to be paid by the recipient calculated at the then maximum marginal rates generally applicable to Persons of the same type as the recipients with respect to the receipt by the recipient of such amounts (less any tax savings realized as a result of the payment of the indemnified amount), such increased payment (as so reduced) is equal to the payment otherwise required to be made.

  • After-Tax Account means a Participant’s account to which are credited After-Tax Contributions, if any, and earnings and losses thereon.

  • After-Tax Contributions means amounts withheld from an Employee’s Compensation pursuant to a Salary Reduction Agreement after all applicable state and federal taxes have been deducted. Such amounts are withheld for purposes of purchasing one or more of the Benefit Package Options available under the Plan.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Distributable Cash Flow means the cash flow available for distribution to Shareholders as dividends as described under “Dividends”;

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Tax Distributions has the meaning set forth in Section 4.01(b)(i).

  • Tax Distribution Amount means, with respect to a Member’s Units, whichever of the following applies with respect to the applicable Tax Distribution, in each case in amount not less than zero:

  • Cash Flow Distribution Amount As to any calendar month, the aggregate amount of principal distributable in respect of the Mortgage Securities in such calendar month.

  • Permitted Tax Distributions means (a) for so long as the Borrower or any of its Subsidiaries are members of a group filing a consolidated, combined, affiliated or unitary income tax return with any direct or indirect parent of the Borrower, payments, dividends, or distributions, directly or indirectly, to such direct or indirect parent of the Borrower in amounts required for such parent entity to pay federal, state and local income (and franchise or other similar Taxes imposed lieu of income) Taxes imposed on such entity to the extent such Taxes are directly attributable to the income of the Borrower and its Subsidiaries; provided, however, that the amount of such payments in respect of any tax year does not, in the aggregate, exceed the amount that the Borrower and its Subsidiaries that are members of such consolidated, combined, affiliated or unitary group would have been required to pay in respect of such Taxes (as the case may be) in respect of such year if the Borrower and its Subsidiaries paid such Taxes directly on a separate company basis or as a stand-alone consolidated, combined, affiliated or unitary tax group (reduced by any such Taxes paid directly by the Borrower or any Subsidiary); and provided, further, that any such cash distributions made in respect of any Taxes attributable to the income of any Unrestricted Subsidiaries of the Borrower may be made only to the extent that such Unrestricted Subsidiaries have made cash payments for such purpose to the Borrower or any of its Restricted Subsidiaries and (b) with respect to any calendar year during which the Borrower is classified as a partnership or disregarded entity for U.S. federal income tax purposes, payments, dividends, or distributions by a Loan Party, on or prior to each estimated tax payment date as well as each other applicable due date but no more frequently than quarterly, in an aggregate amount not to exceed the product of (i) the total aggregate taxable income of the Borrower and its Restricted Subsidiaries (or estimates thereof) which is allocable to its members or partners as a result of the operations or activities of the Borrower and its Restricted Subsidiaries during the relevant period, calculated without regard to any tax deductions or basis adjustments arising under Section 743 of the Code attributable to the assets of the Borrower (provided, however, that such tax deductions or basis adjustments shall be taken into account if an Event of Default shall have occurred and be continuing), multiplied by (ii) the highest combined marginal federal, state and local income tax rates (including Section 1411 taxes) applicable to any member or partner of the Borrower (or, if any of them are themselves a pass-through entity for U.S. federal income tax purposes, their members or partners) determined by taking into account the character of the income and loss allocable to the members or partners as it affects the applicable tax rate, after taking into account any losses from prior periods allocated to the members or partners by the Borrower, to the extent not taken into account as a reduction in taxable income hereunder in prior periods; provided that, taxable income of the Borrower and its Restricted Subsidiaries for any period shall take into account any increases or decreases thereto as a result of any amended tax return or any tax examination, audit or adjustment; provided, further, that if the aggregate amount of Permitted Tax Distributions made for a taxable year exceeds the amount of Permitted Tax Distributions that would have been permitted based on the taxable income of Borrower and its Restricted Subsidiaries, as finally determined following the close of such year (including as a result of any amended tax return or any tax examination, audit or adjustment), then the amount of such excess shall be credited against the next Permitted Tax Distributions permitted to be made with respect to subsequent taxable periods.

  • Cumulative Net Realized Tax Benefit for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination.

  • Net Losses means, for each fiscal year or other period, an amount equal to the Partnership's taxable income or loss for such year or period determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

  • Operating Revenue Cash Flows means the Company’s cash flow from ownership and/or operation of (i) Properties, (ii) Loans, (iii) Permitted Investments, (iv) short-term investments, and (v) interests in Properties, Loans and Permitted Investments owned by any Joint Venture or any partnership in which the Company or the Partnership is, directly or indirectly, a co-venturer or partner.

  • Final Tax Amount has the meaning set forth in Section 4.01(b)(ii).

  • Net Realized Losses For any Class of Certificates and any Distribution Date, the excess of (i) the amount of Realized Losses previously allocated to that Class over (ii) the amount of any increases to the Class Certificate Principal Balance of that Class pursuant to Section 5.08 due to Recoveries.

  • Tax Distribution Date has the meaning set forth in Section 4.01(b)(i).

  • Tax Distribution has the meaning set forth in Section 4.4.

  • Adjusted gross proceeds means gross proceeds less cash prizes, cost of

  • Available Cash Flow means an amount, with respect to each Fiscal Year or portion thereof during the Term, equal to the excess, if any, of the Operating Profit over the Owner’s Priority.

  • Net Cash Flow means, with respect to the Property for any period, the amount obtained by subtracting Operating Expenses and Capital Expenditures for such period from Gross Income from Operations for such period.