Compensation Deduction definition
Examples of Compensation Deduction in a sentence
The Employing Party that claims (or any Affiliate of which claims) the Deferred Compensation Deduction described in Section 6.1(a) shall be responsible for all applicable Taxes (including, but not limited to, withholding and excise taxes) and shall satisfy, or shall cause to be satisfied, all applicable Tax reporting obligations in respect to the deferred compensation that gives rise to the Deferred Compensation Deduction.
The Employing Party that claims (or any Affiliate of which claims) the Deferred Compensation Deduction described in Section 6.1(a) shall be responsible for all applicable Taxes (including, but not limited to, withholding and excise taxes) and shall satisfy, or shall cause to be satisfied, all applicable Tax reporting obligations in respect of the deferred compensation that gives rise to the Deferred Compensation Deduction.
Any Deferred Compensation Deduction arising after the Distribution Date shall be claimed solely by the Party (or the appropriate Affiliate of that Party) that employs the individual with respect to whom such Deferred Compensation Deduction arises at the time that it arises or, if such individual is not then employed by any Party or a Party’s Affiliate, by the Party (or the appropriate Affiliate of that Party) that last employed such individual.
Any Deferred Compensation Deduction arising after the Distribution shall be allocable to the Party (or the appropriate Affiliate of the Party) that employs the individual with respect to whom such Deferred Compensation Deduction arises at the time that it arises or, if such individual is not then employed by any Party or a Party’s Affiliate, by the Party with respect to which such individual was most recently employed.
For purposes of this Agreement, the issuer's inability to claim such Deferred Compensation Deduction because of a change in the above reporting position shall be treated as a Deferred Compensation Adjustment and governed by Section 4.2(a)(ii) below.
Where a Party has other losses, deductions, credits or similar items available to it, such deductions, credits or similar items of such Party may only be applied after the use of any Timing Adjustment, Reorganization Tax Payment, or Deferred Compensation Deduction.
Parent shall have the right to control, and shall be fully responsible and indemnify Master LLC, the Companies, Purchaser and its Affiliates for any expenses incurred in connection with, any Contest challenging the Compensation Deduction.
Subject to subsection (iii) below regarding contests, the Indemnifying Party shall, within 10 days of such notification, pay the Audited Party the amount of the Tax Detriment to the Audited Party resulting from the denial of such Deferred Compensation Deduction.
The Employing Company that originally claims (or any of its Group members that claims) the Deferred Compensation Deduction described in clause (i) of this Section 2.02 shall be responsible for all applicable Taxes (including, but not limited to, withholding and excise taxes) and shall satisfy, or shall cause to be satisfied, all applicable Tax reporting obligations in respect of the Compensatory Equity Interests that gives rise to the Deferred Compensation Deduction.
The Company or such Subsidiary shall pay Aon an amount equal to the tax benefit realized by Buyer or any of its Affiliates (determined on an After-Tax Basis) as a result of such Compensation Deduction less the after-tax cost to Buyer of any employment Taxes required to be paid on the exercise or vesting of the Aon Option or Aon Stock-Based Awards within 60 days of the date the Tax benefits are realized by the Company or such Subsidiary from the Compensation Deduction.