Common use of Amount of Additional Payments Clause in Contracts

Amount of Additional Payments. Anything in this Agreement seemingly to the contrary notwithstanding, in the event it shall be determined that any or the aggregate of all payments, distributions, accelerations of vesting, awards and provisions of benefits by CCBF and/or CCB Bank to or for the benefit of the Executive (whether paid or payable, distributed or distributable, accelerated, awarded or provided pursuant to the terms of this Agreement or otherwise) (a "Payment") would constitute an "excess parachute payment" within the meaning of Section 280G of the Code and subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then prior to the making of any Payment to the Executive, a calculation shall be made of the amount of the Excise Tax and an additional cash payment (the "Additional Payment") shall be promptly made to the Executive in the sum of (i) the Excise Tax and (ii) the total of any Excise Tax and income tax or any other tax payable on the amounts specified in item (i) and this item (ii). In addition, if it shall be determined at any time by reference to Internal Revenue Service ("IRS") regulations or rulings, as a consequence IRS audits or assessments of Executive (or in settlement thereof), by reference to the terms of the final judgment of a court or other judicial body of competent jurisdiction or as a result of other similar events requiring Executive to pay an Excise Tax or any income or other excise tax on the amounts specified in this Section 10(a), that an Additional Payment made was less than the sums specified in items (i) and (ii) above, CCBF and CCB Bank promptly shall make a further cash payment to Executive in the sum of (x) such deficit and (y) any Excise Tax and any income tax or any other tax on such further cash payment.

Amount of Additional Payments. Anything in this Agreement seemingly to the contrary notwithstanding, in the event it shall be determined that any or the aggregate of all payments, distributions, accelerations of vesting, awards and provisions of benefits by CCBF and/or CCB Bank to or for the benefit of the Executive (whether paid or payable, distributed or distributable, accelerated, awarded or provided pursuant to the terms of this Agreement or otherwise) (a "Payment") would constitute an "excess parachute payment" within the meaning of Section 280G of the Code and subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then prior to the making of any Payment to the Executive, a calculation shall be made of the amount of the Excise Tax and an additional cash payment (the "Additional Payment") shall be promptly made to the Executive in the sum of (i) the Excise Tax and (ii) the total of any Excise Tax and income tax or any other tax payable on the amounts specified in item (i) and this item (ii). In addition, if it shall be determined at any time by reference to Internal Revenue Service ("IRS") regulations or rulings, as a consequence IRS audits or assessments of Executive (or in settlement thereof), by reference to the terms of the final judgment of a court or other judicial body of competent jurisdiction or as a result of other similar events requiring Executive to pay an Excise Tax or any income or other excise tax on the amounts specified in this Section 10(a), that an Additional Payment made was less than the sums specified in items (i) and (ii) above, CCBF and CCB Bank promptly shall make a further cash payment to Executive in the sum of (x) such deficit and (y) any Excise Tax and any income tax or any other tax on such further cash payment.

Amount of Additional Payments. Anything in this Agreement seemingly to the contrary notwithstanding, in the event it shall be determined that any or the aggregate of all payments, distributions, accelerations of vesting, awards and provisions of benefits by CCBF and/or CCB Bank of CVB to or for the benefit of the Executive (whether paid or payable, distributed or distributable, accelerated, awarded or provided pursuant to the terms of this Agreement or otherwise) (a "Payment") would constitute an "excess parachute payment" within the meaning of Section 280G of the Code and subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then prior to the making of any Payment to the Executive, a calculation shall be made of the amount of the Excise Tax and an additional cash payment (the "Additional Payment") shall be promptly made to the Executive in the sum of (i) the Excise Tax and (ii) the total of any Excise Tax and income tax or any other tax payable on the amounts specified in item (i) and this item (ii). In addition, if it shall be determined at any time by reference to Internal Revenue Service ("IRS") regulations or rulings, as a consequence of IRS audits or assessments of Executive (or in settlement thereof), by reference to the terms of the final judgment of a court or other judicial body of competent jurisdiction or as a result of other similar events requiring Executive to pay an Excise Tax or any income or other excise tax on the amounts specified in this Section 10(a9(a), that an Additional Payment made was less than the sums specified in items (i) and (ii) above, CCBF and CCB Bank CVB promptly shall make a further cash payment to Executive in the sum of (x) such deficit and (y) any Excise Tax and any income tax or any other tax on such further cash payment.

Amount of Additional Payments. Anything in this Agreement seemingly to the contrary notwithstanding, in the event it shall be determined that any or the aggregate of all payments, distributions, accelerations of vesting, awards and provisions of benefits by CCBF and/or CCB Bank to or for the benefit of the Executive (whether paid or payable, distributed or distributable, accelerated, awarded or provided pursuant to the terms of this Agreement or otherwise) (a "Payment") would constitute an "excess parachute payment" within the meaning of Section 280G of the Code and subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then prior to the making of any Payment to the Executive, a calculation shall be made of the amount of the Excise Tax and an additional cash payment (the "Additional Payment") shall be promptly made to the Executive in the sum of (i) the Excise Tax and (ii) the total of any Excise Tax and income tax or any other tax payable on the amounts specified in item (i) and this item (ii). In addition, if it shall be determined at any time by reference to Internal Revenue Service ("IRS") regulations or rulings, as a consequence of IRS audits or assessments of Executive (or in settlement thereof), by reference to the terms of the final judgment of a court or other judicial body of competent jurisdiction or as a result of other similar events requiring Executive to pay an Excise Tax or any income or other excise tax on the amounts specified in this Section 10(a), that an Additional Payment made was less than the sums specified in items (i) and (ii) above, CCBF and CCB Bank promptly shall make a further cash payment to Executive in the sum of (x) such deficit and (y) any Excise Tax and any income tax or any other tax on such further cash payment.

Amount of Additional Payments. Anything in this Agreement seemingly to the contrary notwithstanding, in the event it shall be determined that any or the aggregate of all payments, distributions, accelerations of vesting, awards and provisions of benefits by CCBF and/or CCB Bank of UCB to or for the benefit of the Executive (whether paid or payable, distributed or distributable, accelerated, awarded or provided pursuant to the terms of this Agreement or otherwise) (a "Payment") would constitute an "excess parachute payment" within the meaning of Section 280G of the Code and subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then prior to the making of any Payment to the Executive, a calculation shall be made of the amount of the Excise Tax and an additional cash payment (the "Additional Payment") shall be promptly made to the Executive in the sum of (i) the Excise Tax and (ii) the total of any Excise Tax and income tax or any other tax payable on the amounts specified in item (i) and this item (ii). In addition, if it shall be determined at any time by reference to Internal Revenue Service ("IRS") regulations or rulings, as a consequence of IRS audits or assessments of Executive (or in settlement thereof), by reference to the terms of the final judgment of a court or other judicial body of competent jurisdiction or as a result of other similar events requiring Executive to pay an Excise Tax or any income or other excise tax on the amounts specified in this Section 10(a9(a), that an Additional Payment made was less than the sums specified in items (i) and (ii) above, CCBF and CCB Bank UCB promptly shall make a further cash payment to Executive in the sum of (x) such deficit and (y) any Excise Tax and any income tax or any other tax on such further cash payment.