Common use of Tax Payment by the Company Clause in Contracts

Tax Payment by the Company. (i) If any amount or benefit paid or distributed to Executive pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to Executive by the Company or any affiliated company (collectively, the “Covered Payments”), are or become subject to the tax (the “Excise Tax”) imposed under Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall pay to Executive at the time specified below an additional amount (the “Tax Reimbursement Payment”) such that the net amount retained by Executive with respect to such Covered Payments, after deduction of any Excise Tax on the Covered Payments and any Federal, state and local income or employment tax and Excise Tax on the Tax Reimbursement Payment provided for by this Section 8(e), but before deduction for any Federal, state or local income or employment tax withholding on such Covered Payments, shall be equal to the amount of the Covered Payments.

Tax Payment by the Company. (i) If any amount or benefit paid or distributed to Executive pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to Executive by the Company or any affiliated company (collectively, the “"Covered Payments”"), are or become subject to the tax (the “"Excise Tax”") imposed under Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall pay to Executive at the time specified below an additional amount (the “"Tax Reimbursement Payment”") such that the net amount retained by Executive with respect to such Covered Payments, after deduction of any Excise Tax on the Covered Payments and any Federal, state and local income or employment tax and Excise Tax on the Tax Reimbursement Payment provided for by this Section 8(e), but before deduction for any Federal, state or local income or employment tax withholding on such Covered Payments, shall be equal to the amount of the Covered Payments.

Tax Payment by the Company. (i) If any amount or benefit paid or distributed to Executive Chairman pursuant to this Agreement, taken together with any amounts or benefits otherwise paid or distributed to Executive Chairman by the Company or any affiliated company (collectively, the “"Covered Payments”"), are or become subject to the tax (the “"Excise Tax”") imposed under Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall pay to Executive Chairman at the time specified below an additional amount (the “"Tax Reimbursement Payment”") such that the net amount retained by Executive Chairman with respect to such Covered Payments, after deduction of any Excise Tax on the Covered Payments and any Federal, state and local income or employment tax and Excise Tax on the Tax Reimbursement Payment provided for by this Section 8(e8(d), but before deduction for any Federal, state or local income or employment tax withholding on such Covered Payments, shall be equal to the amount of the Covered Payments.