Certain Tax Payments. The Buyer shall be responsible for the payment of any income tax liability resulting from a disallowance of the tax deduction of the aggregate $400,000 in bonuses to the directors of the Company and the Subsidiary for fiscal 2003 set forth on the Company's and/or the Subsidiary's federal and state or franchise tax returns.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Microtel International Inc), Stock Purchase Agreement (Microtel International Inc)