Additional Payment. In addition to any Spousal Support, in the event of Divorce: (check one) ☐ - There shall be No Additional Payment made by either Spouse to the other than those listed in this Agreement. ☐ - There shall be an Additional One (1) Time payment in the amount of $ made by the ☐ Husband ☐ Wife to the ☐ Husband ☐ Wife (“Additional Payment”). The Additional Payment shall be made within thirty (30) days after a divorce judgment, decree, or similar document that certifies the Divorce. ☐ - Other. .
Additional Payment. (a) If, notwithstanding the provisions of Section 8(a)(ii), but subject to subsection (b), it is ultimately determined by a court or pursuant to a final determination by the Internal Revenue Service that any portion of Total Payments is subject to the tax (the "Excise Tax") imposed by Section 4999 of the Code (or any successor provision), then the Company shall pay to the Executive an additional amount (the "Gross-Up Payment") such that the net amount retained by the Executive after deduction of any Excise Tax and any interest charges or penalties in respect of the imposition of such Excise Tax (but not any federal, state or local income tax) on the Total Payments, and any federal, state and local income tax and Excise Tax upon the payment provided for by this Section 23 shall be equal to the Total Payments. For purposes of determining the amount of the Gross-Up Payment, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rates of taxation in the state and locality of the Executive's domicile for income tax purposes on the date the Gross-Up Payment is made, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.
Additional Payment. In addition to any Spousal Support, in the event of Divorce: (check one) ☐ - There shall be No Additional Payment made by either Spouse to the other than those listed in this Agreement. ☐ - There shall be an Additional One (1) Time payment in the amount of $ made by the ☐ Husband ☐ Wife to the ☐ Husband ☐ Wife (“Additional Payment”). The Additional Payment shall be made within thirty
Additional Payment. The parties agree that every principal who is a member of PPTA or NZEI Te Riu Roa as at 28 August 2019 and is covered by the Area School Principals’ Collective Agreement 2019–2022 on the date it commences (6 September 2019) is entitled to receive a one-off gross payment of $500. For the avoidance of doubt: • A principal who is a member of PPTA or NZEI Te Riu Roa as at 28 August 2019 and who on 6 September 2019 is covered by the ASPCA and is on approved unpaid leave under Part 5 of the ASPCA is entitled, upon application on their return, to receive the one-off gross payment of $500 on the return to their position providing that they return on or before 28 January 2020. • A principal who is a member of PPTA or NZEI Te Riu Roa as at 28 August 2019 and who on 6 September 2019 is covered by the ASPCA and is on approved paid leave from their position as principal on 6 September 2019 will be automatically entitled to this payment, without a requirement to apply for it. A Principal who is a member of PPTA or NZEI Te Riu Roa as at 28 August 2019 and who on 6 September 2019 is covered by the ASPCA and is on approved parental leave is entitled, upon application on their return, to receive the one-off gross payment of $500 on the return to their position providing that they return on or before 6 September 2020. A principal may not receive more than $500 gross in total. A principal is not entitled to the payment if they were entitled to and received any amount up to $1,500 of the lump sum payable under any of the three collective agreements between the Secretary and NZEI Te Riu Roa and/or PPTA that cover teachers, the collective agreement between the Secretary and NZEI Te Riu Roa which covers Kindergarten Teachers, the Primary Principals’ Collective Agreement between the Secretary and NZEI Te Riu Roa or the Secondary Principals’ Collective Agreement between the Secretary and PPTA and SPANZ Union.
Additional Payment. In addition to any Spousal Support, in the event of Divorce: (check one) ☐ - There shall be No Additional Payment made by either Spouse to the other than those listed in this Agreement. ☐ - There shall be an Additional One (1) Time payment in the amount of $________________ made by the ☐ Husband ☐ Wife to the ☐ Husband ☐ Wife (“Additional Payment”). The Additional Payment shall be made within thirty (30) days after a divorce judgment, decree, or similar document that certifies the Divorce. ☐ - Other. _______________________________________________________.
Additional Payment. The Company shall pay to the Executive in a lump sum in cash within 30 days after the Date of Termination, an amount equal to three (3) times the sum of (x) the Executive’s Annual Base Salary and (y) an amount equal to the highest amount of Bonus received by Executive for any fiscal year in the last three (3) fiscal years.
Additional Payment. Anything in this Agreement to the contrary notwithstanding and except as set forth below, in the event it shall be determined that any payment or benefit provided to, or for the benefit of, the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 6) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto), employment taxes and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Section 6(a), if it shall be determined that the Executive is entitled to a Gross-Up Payment, but that the Executive, after taking into account the Payments and the Gross-Up Payment, would not receive a net after-tax benefit of at least $25,000 (taking into account income taxes, employment taxes and any Excise Tax) as compared to the net after-tax proceeds to the Executive resulting from an elimination of the Gross-Up Payment and a reduction of the Payments, in the aggregate, to an amount (the “Limited Payment Amount”) such that the receipt of Payments would not give rise to any Excise Tax, then the following shall apply:
Additional Payment. The Company shall pay additional compensation as described in this Section 6(b)(1) (the “Additional Payment”). Subject to Section 6(c), the Company shall make the Additional Payment to Executive in a cash lump sum, net of applicable withholdings.
Additional Payment. The parties agree that every principal who is a member of NZEI Te Riu Roa as at 9 August 2019 and is covered by the Primary Principals’ Collective Agreement 2019–2022 on the date it commences (26 August 2019) is entitled to receive a one-off gross payment of $1,500, pro-rated for part-time Principals based on their FTE as at 26 August 2019. For the avoidance of doubt: A principal who is a member of NZEI Te Riu Roa as at 9 August 2019 and who on 26 August 2019 is covered by the PPCA and is on approved unpaid leave under Part 7 of the PPCA is entitled, upon application on their return, to receive the one-off gross payment of $1,500 on the return to their position providing that they return on or before 28 January 2020. A principal who is a member of NZEI Xx Xxx Xxx as at 9 August 2019 and who on 26 August 2019 is covered by the PPCA and is on approved paid leave from their position as principal on 26 August will be entitled to this payment without a requirement to apply for its payment. A Principal who is a member of NZEI Xx Xxx Xxx as at 9 August 2019 and who on 26 August 2019 is covered by the PPCA and is on approved parental leave is entitled, upon application on their return, to receive the one- off gross payment of $1,500 on the return to their position providing that they return on or before 26 August 2020. A principal may not receive more than $1,500 gross in total. A principal is not entitled to the payment if they were entitled to and received the $1,500 lump sum payable under the terms of settlement dated 13 June 2019 of any of the three collective agreements between the Secretary and NZEI Te Riu Roa and/or Post Primary Teachers’ Association that cover teachers, or the collective agreement between the Secretary and NZEI Te Riu Roa which covers Kindergarten Teachers.
Additional Payment. Notwithstanding any other provision of this Agreement, in the event the federal, state or local tax of any Obligor is permanently reduced as a result of a transaction which (i) has no impact on income for financial accounting purposes, and (ii) results in a permanent increase in any such tax for another Obligor, the Obligor whose taxes are reduced shall, within sixty (60) days of a determination that this provision is applicable, pay the amount by which its taxes were reduced to the party whose taxes are increased as a result of the transaction.
