Common use of Applicable Rates Clause in Contracts

Applicable Rates. For purposes of determining the Gross Up Payment amount, Employee shall be deemed: (1) to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individual taxpayers in the calendar year in which the Gross Up Payment is made (which rate shall be adjusted as necessary to take into account the effect of any reduction in deductions, exemptions or credits otherwise available to Employee had the Gross Up Payment not been received); (2) to pay additional employment taxes as a result of the receipt of the Gross Up Payment in an amount equal to the highest marginal rate of employment taxes applicable to wages; provided that if any employment tax is applied only up to a specified maximum amount of wages, such limit shall be taken into account for purposes of such calculation; and (3) to pay state and local income taxes at the highest marginal rates of taxation in the state and locality of Employee's residence on the date of the Triggering Termination, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.

Applicable Rates. For purposes of determining the Gross Up Payment amount, Employee shall be deemed: (1) to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individual taxpayers in the calendar year in which the Gross Up Payment is made Change In Control occurs (which rate shall be adjusted as necessary to take into account the effect of any reduction in deductions, exemptions or credits otherwise available to Employee had the Gross Up Payment not been received); (2) to pay additional employment taxes as a result of the receipt of the Gross Up Payment in an amount equal to the highest marginal rate of employment taxes applicable to wages; provided that if any employment tax is applied only up to a specified maximum amount of wages, such limit shall be taken into account for purposes of such calculation; and (3) to pay state and local income taxes at the highest marginal rates of taxation in the state and locality of Employee's ’s residence on the date of the Triggering TerminationChange In Control, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.

Applicable Rates. For purposes of determining the Gross Up Payment amount, Employee the Executive shall be deemed: (1i) to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individual taxpayers in the calendar year in which the Gross Up Payment is made (which rate shall be adjusted as necessary to take into account the effect of any reduction in deductions, exemptions or credits otherwise available to Employee the Executive had the Gross Up Payment not been received); (2ii) to pay additional employment taxes as a result of the receipt of the Gross Up Payment in an amount equal to the highest marginal rate of employment taxes applicable to wages; provided that if any employment tax is applied only up to a specified maximum amount of wages, such limit shall be taken into account for purposes of such calculation; and (3iii) to pay state and local income taxes at the highest marginal rates of taxation in the state and locality of Employee's the Executive’s residence on the date of the Triggering Terminationtermination, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.

Applicable Rates. For purposes of determining the Gross Up Payment amount, Employee shall be deemed: (1) to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individual taxpayers in the calendar year in which the Gross Up Payment is made (which rate shall be adjusted as necessary to take into account the effect of any reduction in deductions, exemptions or credits otherwise available to Employee had the Gross Up Payment not been received); ; (2) to pay additional employment taxes as a result of the receipt of the Gross Up Payment in an amount equal to the highest marginal rate of employment taxes applicable to wages; provided that if any employment tax is applied only up to a specified maximum amount of wages, such limit shall be taken into account for purposes of such calculation; and and (3) to pay state and local income taxes at the highest marginal rates of taxation in the state and locality of Employee's residence on the date of the Triggering Termination, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.

Applicable Rates. For purposes of determining the Gross Up Payment amount, Employee Executive shall be deemed: (1) to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individual taxpayers in the calendar year in which the Gross Up Payment is made (which rate shall be adjusted as necessary to take into account the effect of any reduction in deductions, exemptions or credits otherwise available to Employee Executive had the Gross Up Payment not been received); (2) to pay additional employment taxes as a result of the receipt of the Gross Up Payment in an amount equal to the highest marginal rate of employment taxes applicable to wages; provided that if any employment tax is applied only up to a specified maximum amount of wages, such limit shall be taken into account for purposes of such calculation; and (3) to pay state and local income taxes at the highest marginal rates of taxation in the state and locality of Employee's Executive’s residence on the date of the Triggering Termination, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.

Applicable Rates. For purposes of determining the Gross Up Payment amount, Employee Executive shall be deemed: (1i) to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individual taxpayers in the calendar year in which the Gross Up Payment is made (which rate shall be adjusted as necessary to take into account the effect of any reduction in deductions, exemptions or credits otherwise available to Employee Executive had the Gross Up Payment not been received); (2ii) to pay additional employment taxes as a result of the receipt of the Gross Up Payment in an amount equal to the highest marginal rate of employment taxes applicable to wages; provided that if any employment tax is applied only up to a specified maximum amount of wages, such limit shall be taken into account for purposes of such calculation; and (3iii) to pay state and local income taxes at the highest marginal rates of taxation in the state and locality of Employee's Executive’s residence on the date of the Triggering Terminationtermination, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.

Applicable Rates. For purposes of determining the Gross Up Payment amount, Employee shall be deemed: (1) to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individual taxpayers in the calendar year in which the Gross Up Payment is made (which rate shall be adjusted as necessary to take into account the effect of any reduction in deductions, exemptions or credits otherwise available to Employee had the Gross Up Payment not been received); (2) to pay additional employment taxes as a result of the receipt of the Gross Up Payment in an amount equal to the highest marginal rate of employment taxes applicable to wages; provided that if any employment tax is applied only up to a specified maximum amount of wages, such limit shall be taken into account for purposes of such calculation; and (3) to pay state and local income taxes at the highest marginal rates of taxation in the state and locality of Employee's ’s residence on the date of the Triggering Termination, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.