After-Tax Value definition

After-Tax Value means the aggregate amount of the Pre-Paid Component net of any taxes withheld or paid in respect thereof and determined taking into account any tax benefit that may be available to you in respect of such repayment. The Company will determine the After-Tax Value, which determination will be final, conclusive and binding for all purposes hereunder.

After-Tax Value means the present value of the Total Payments reduced by all federal, state, local and foreign income, excise and employment taxes applicable to such payments. Furthermore, the terms “excess parachute payment” and “parachute payments” shall have the meanings assigned to them in Code Section 280G, and such “parachute payments” shall be valued as provided therein. All determinations and calculations required to be made under this Section 6.7 shall be made by the Company’s independent accountants (at Company’s expense), in consultation with Employee and subject to the reasonable right of Employee’s representative(s) to review and comment on such calculations prior to final determination. The parties recognize that the actual implementation of the provisions of this Section 6.7 may be complex and agree to deal with each other in good faith to resolve any questions or disagreements arising hereunder.

After-Tax Value means an amount equal to the sum of any payment, credit or other original amount (the “Original Amount”) plus an amount that will cause the recipient to retain a sum equal to the Original Amount after federal income taxes at the highest marginal rate are or would be imposed on the After Tax Value.

Examples of After-Tax Value in a sentence

• Executive agrees that in the event Executive’s employment with the Company terminates for any reason other than a Qualifying Termination before December 31, 2019 (the “Completion Date”), Executive will be required to repay to the Company within ten (10) days of such termination 100% of the After-Tax Value of the 2019 Bonus.

• If the Company’s auditors determine that any Payment would be nondeductible by the Company because of Code Section 280G, then the Company shall promptly give the Participant notice to that effect and a copy of the detailed calculation thereof and of the Reduced Amount and the After-Tax Value.

• You hereby agree that, if your employment with the Company terminates for any reason other than a Qualifying Termination (as defined below) prior to the earlier to occur of (a) the effective date of a plan pursuant to Chapter 11 of Title 11 of the United States Code and (b) December 31, 2020 (such earlier date, the “Completion Date”), then you will be required to repay to the Company the After-Tax Value (as defined below) within 10 business days following such termination of employment.

• You agree that in the event your employment with the Company terminates for any reason other than a Qualifying Termination before the Vesting Date, you will be required to repay to the Company, within 10 days of such termination, 100% of the After-Tax Value of the Retention Bonus.

• If the Executive’s employment with the Company is terminated prior to the first anniversary of the Effective Date by the Company for Cause or by the Executive without Good Reason, then the Executive shall promptly (and in any event, within 30 days following such termination) repay the After-Tax Value to the Company.

More Definitions of After-Tax Value

After-Tax Value means the aggregate amount of the First Portion net of all taxes the Executive is required to pay in respect of such amount and determined taking into account any tax benefits that are available to the Executive in respect of such repayment. The Company shall determine in good faith the After-Tax Value, which determination shall be final, conclusive, and binding.

After-Tax Value of a particular payment shall mean the amount of such payment reduced by the ordinary federal, state and local income and employment taxes that would apply, determined as though such payment constituted ordinary wage income at such time. The Company’s good faith determination of the After-Tax Value of a payment shall be conclusive and binding upon all parties.

After-Tax Value means the aggregate amount of the Incentive Bonus net of any taxes withheld or paid in respect thereof and determined taking into account any tax benefit that may be available in respect of such repayment. The Company shall determine the After-Tax Value, which determination shall be final, conclusive and binding for all purposes hereunder.

After-Tax Value means, an amount equal to (x), which is calculated as (1) the Deemed Facility Output (in MWh) during any Discretionary Curtailment, multiplied by (2) the then-current Production Tax Credit Rate (in $/MWh) in effect at the time of such Discretionary Curtailment, divided by (y), which is calculated as one (1.00) minus the then- current highest marginal federal income tax rate applicable to U.S. corporations (excluding subchapter S corporations), expressed as a decimal (e.g., 0.21). The After-Tax Value for a Discretionary Curtailment may be expressed by the following formulas: After-Tax Value = x/y or After-Tax Value = Deemed Facility Output * then-current Production Tax Credit Rate 1 – the then-current highest marginal federal income tax rate applicable to U.S. Corporations (excluding subchapter S corporations) Avista will estimate (A) the Production Tax Credit Rate and (B) the highest marginal federal income tax rate applicable to U.S. Corporations (excluding subchapter S corporations) (collectively, the “After-Tax Value Inputs”) to be used for a calendar year during the Term as of the first business day of each such calendar year and shall promptly thereafter notify Seller in writing of such estimated After-Tax Value Inputs. Seller shall have ten (10) days after receipt of such notice to object in writing to the After-Tax Value Inputs estimated for such calendar year. If Seller does not object to an estimated After-Tax Value Input provided by Avista within ten (10) days after receipt, Seller shall be deemed to be in agreement with such estimate. If Seller submits a timely objection to an estimated After-Tax Value Input to Avista, the Parties will promptly meet and confer in good faith to calculate a mutually agreeable After- Tax Value Input for the applicable calendar year. To the extent that the Parties are unable to mutually agree on an After-Tax Value Input for any calendar year, the last undisputed After- Tax Value Input shall apply until such time as the Parties mutually agree to a new After-Tax Value Input. Notwithstanding the foregoing, the Parties acknowledge and agree that the Production Tax Credit Rate shall be finalized pursuant to applicable law by the Internal Revenue Service during the course of each calendar year during the Term, including any adjustments due to inflation. In any calendar year, the Production Tax Credit Rate estimated by Avista (or mutually agreed to by the Parties) in accordance with this paragraph shall be used as an After...

After-Tax Value means the aggregate amount of the Retention Bonus net of any taxes (including any penalty or excise taxes) you are required to pay in respect thereof and determined taking into account any tax benefit that may be available to you in respect of such repayment. We shall determine in good faith the After-Tax Value, which determination shall be final, conclusive, and binding.

After-Tax Value means the portion of your Retention Bonus required to be repaid under Section 2(b) net of any taxes withheld or paid in respect thereof. The Company shall determine the After-Tax Value, which determination shall be final, conclusive and binding for all purposes hereunder.

After-Tax Value means the final consideration paid to the Participant calculated as if Payments are reduced in accordance with Section 14.