Tax Gross-Up shall have the meaning set forth in Section 8(d)(vi) below.
Tax Gross-Up means, with respect to any particular Indemnity Payment, such additional amount as is necessary to place the Indemnified Party in the same after-tax position as it would have been in had such Indemnity Payment been received tax free by the Indemnified Party. The Tax Gross-Up amount will be calculated by using the applicable combined federal and provincial income tax rate and/or the foreign tax rate applicable to the Indemnified Party and, except as provided in Section 6.08, without regard to any losses, credits, refunds or deductions that the Indemnified Party may have that could affect the amount of Tax payable on any such Indemnity Payment;
Tax Gross-Up. Defined. The term "tax gross-up" means the sum of the (i) excise tax imposed on the Executive's Severance Benefits pursuant to Sections 280G and 4999 of the Code, plus (ii) federal, state and local income taxes payable by the Executive with respect to the Company's payment of such excise tax, plus (iii) federal, state and local employment taxes payable by the Executive with respect to the Company's payment of such excise tax, plus (iv) iterations of income and employment taxes on (ii) plus (iii).
Examples of Tax Gross-Up in a sentence
No Tax Gross-Up Payments on the Notes will be made subject to withholding tax (if any) applicable to the Notes, without the Issuer being obliged to pay additional amounts in respect of the Notes as a result thereof.
The contribution shall be adjusted by the Income Tax Gross-Up Factor.
Formerly referred to as FAS 109 Tax Gross-Up. Recorded in Account 254.
Each Tax Gross-Up Payment shall be a dollar amount equal to forty-three percent (43%) of the fair market value of the Restricted Shares at the time of vesting, exclusive of dividends.
Employee shall be entitled to receive a tax gross-up payment (the "Tax Gross-Up Payment" from the Company with respect to each tax year in which the Restricted Shares granted pursuant to the Restricted Share Award Agreement vest and are distributed to him.
More Definitions of Tax Gross-Up
Tax Gross-Up means the tax gross-up amount set forth in Section 3.4 below.
Tax Gross-Up means, with respect to any particular Indemnity Payment, such additional amount as is necessary to place the Indemnitee in the same after-tax position as it would have been in had such Indemnity Payment been received tax free. The Tax Gross-Up amount will be calculated by using the applicable combined federal and provincial income tax rate and/or the foreign tax rate applicable to the Indemnitee and, except as provided in Section 5.4(a), without regard to any losses, credits, refunds or deductions that the Indemnitee may have that could affect the amount of tax payable on any such Indemnity Payment.
Tax Gross-Up described in Section 6(b) and (e) means an amount payable to the Executive such that the net amount retained by the Executive, after payment of federal, state and local income taxes, payroll taxes, excise taxes and any other taxes applicable to the Executive on such amount and on the payments made under Section 6(b) and 6(e), as the case may be, shall be equal to the amount of the expense reimbursed or payment made.
Tax Gross-Up means, in the case of Notes issued by NATIXIS, that NATIXIS will be obliged to pay additional amounts as contemplated by, and in the circumstances specified in, Condition 8, if Tax Gross-up is specified as applicable in the applicable Final Terms.
Tax Gross-Up means an additional amount (the “Additional Payment”) such that the cost of any coverage and benefits provided pursuant to this Section 5(a)(iii), after deduction of any Tax and Expenses related thereto (as defined below) and Tax and Expenses imposed upon the Additional Payment, does not exceed the amount set forth above in this Section 5(a)(iii). The term “Tax and Expenses” means any federal, state KC-1485546-2 - 11 - and local income and employment tax, together with any interest or penalties imposed with respect to such taxes. The Company shall pay the applicable Additional Payment as and when the Tax and Expenses are incurred, subject to Section 10(h). The Additional Payment shall be paid in accordance with Section 409A of the Code, to the extent applicable.
Tax Gross-Up means with respect to any particular Indemnity Payment, such additional amount (calculated in accordance with the Calculation Method) as is necessary to place the Indemnified Party in the same after-tax position as it would have been in had such amount been received tax free;
Tax Gross-Up means an amount equal to the employment and income taxes attributable to a gross bonus amount required to realize the Net After-Tax Bonus after deducting applicable employment and income taxes. The Tax Gross Up will be determined by using the actual employment tax rates then applicable on such amount and the marginal individual tax rates for state and federal income taxes in effect for the Executive’s tax year which includes the date of payment of the Annual Bonus and assuming that the Executive’s income for the tax year equals his income for the immediately preceding tax year.