Common use of Tax Liability Indemnification Clause in Contracts

Tax Liability Indemnification. Employee acknowledges and agrees that he/she is solely responsible for any tax liability and/or consequences regarding payment of the Plan benefit and that he/she has had the opportunity to seek and obtain information and advice with respect to the tax liability and/or consequences of the payment of the Plan benefit. Further, Employee acknowledges and agrees that the Board, including its individual Board members, administrators, employees and/or agents members, employees and/or agents, have not made any representations or provided any advice with regard to his/her tax liability and/or consequences as a result of the payment of the Plan benefit and agrees that he/she will not attempt to hold them responsible with respect to any tax liability and/or consequences which may arise as a result of the payment of the Plan benefit to him/her.