Tax Offset Bonus definition
Examples of Tax Offset Bonus in a sentence
If the Grossed Up Tax Offset Bonus would be subject (in whole or in part) to an excise tax pursuant to Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended (the "Code") (such tax hereinafter referred to as the "Excise Tax") with respect to a Stockholder, then the Grossed Up Tax Offset Bonus shall be reduced to the extent necessary so that no portion of the Tax Offset Bonus to that Stockholder is subject to Excise Tax.
A tax benefit shall be deemed to be realized only to the extent that a deduction with respect to his Warrants, SARs, Deferred Compensation Stock and the Tax Offset Bonus creates an offset for taxes otherwise payable or a tax refund actually received.
Parent shall cause the Company to pay to such Stockholder the amount of the Tax Offset Bonus and the Gross Up no later than 10 days after Parent or the Company has filed its federal income tax return for the tax year in which the Parent or the Company realizes the tax benefit (including by net operating loss carryback or carryover) or receives the tax refund from the taxing authority (whichever is applicable) giving rise to the Tax Offset Bonus and the Gross Up, as the case may be.
The Parent shall cause the Company to -------------------- pay to those Stockholders holding Warrants, SARs or Deferred Compensation Stock the Grossed Up Tax Offset Bonus (as defined below) as the Company is obligated to pursuant to a Company Compensation Officer resolution dated February 14, 1997.