Common use of Single Payment Clause in Contracts

Single Payment. Employer agrees to make a single payment to the Employee in the amount of $_________________ (“Severance Payment(s)”). The Severance Payment shall not be delivered to the Employee until this Agreement becomes effective as described in Section 1 of this Agreement. The Severance Payment(s) shall be subject to the appropriate taxes and other payroll deductions required by law, and these monies shall be included in the IRS W-2 form the Employer shall issue to the Employee for the fiscal year. Employee agrees that, to the extent that any Federal, State, or Local taxes may be or become due or payable as part of the Severance Payment(s), that the Employee shall be fully responsible for paying such taxes. Employee further agrees to indemnify the Employer, and its agents, employees, members, former employees, partners, directors, officers, trustees, consultants, shareholders, attorneys and insurers, both past and present, from, and hold them harmless against any claim, liability, penalty or tax consequence made by any Local, State, or Federal administrative agency or court of competent jurisdiction for such unpaid taxes, including costs and counsel fees incurred by the Employer as a result of such claims.

Single Payment. Employer agrees to make a single payment to the Employee in the amount of $_________________ $ (“Severance Payment(s)”). The Severance Payment shall not be delivered to the Employee until this Agreement becomes effective as described in Section 1 I of this Agreement. The Severance Payment(s) shall be subject to the appropriate taxes and other payroll deductions required by law, and these monies shall be included in the IRS W-2 form the Employer shall issue to the Employee for the fiscal year. Employee agrees that, to the extent that any Federal, State, or Local taxes may be or become due or payable as part of the Severance Payment(s), that the Employee shall be fully responsible for paying such taxes. Employee further agrees to indemnify the Employer, and its agents, employees, members, former employees, partners, directors, officers, trustees, consultants, shareholders, attorneys and insurers, both past and present, from, and hold them harmless against any claim, liability, penalty or tax consequence made by any Local, State, or Federal administrative agency or court of competent jurisdiction for such unpaid taxes, including costs and counsel fees incurred by the Employer as a result of such claims.

Single Payment. Employer agrees to make a single payment to the Employee in the amount of $_________________ (“Severance Payment(s)”). The Severance Payment shall not be delivered to the Employee until this Agreement becomes effective as described in Section 1 I of this Agreement. The Severance Payment(s) shall be subject to the appropriate taxes and other payroll deductions required by law, and these monies shall be included in the IRS W-2 form the Employer shall issue to the Employee for the fiscal year. Employee agrees that, to the extent that any Federal, State, or Local taxes may be or become due or payable as part of the Severance Payment(s), that the Employee shall be fully responsible for paying such taxes. Employee further agrees to indemnify the Employer, and its agents, employees, members, former employees, partners, directors, officers, trustees, consultants, shareholders, attorneys and insurers, both past and present, from, and hold them harmless against any claim, liability, penalty or tax consequence made by any Local, State, or Federal administrative agency or court of competent jurisdiction for such unpaid taxes, including costs and counsel fees incurred by the Employer as a result of such claims.

Single Payment. Employer agrees to make a single payment to the Employee in the amount of $_________________ $ (“Severance Payment(s)”). The Severance Payment shall not be delivered to the Employee until this Agreement becomes effective as described in Section 1 of this Agreement. The Severance Payment(s) shall be subject to the appropriate taxes and other payroll deductions required by law, and these monies shall be included in the IRS W-2 form the Employer shall issue to the Employee for the fiscal year. Employee agrees that, to the extent that any Federal, State, or Local taxes may be or become due or payable as part of the Severance Payment(s), that the Employee shall be fully responsible for paying such taxes. Employee further agrees to indemnify the Employer, and its agents, employees, members, former employees, partners, directors, officers, trustees, consultants, shareholders, attorneys and insurers, both past and present, from, and hold them harmless against any claim, liability, penalty or tax consequence made by any Local, State, or Federal administrative agency or court of competent jurisdiction for such unpaid taxes, including costs and counsel fees incurred by the Employer as a result of such claims.