Common use of Additional Amount Clause in Contracts

Additional Amount. Whether or not Section 9 is applicable, if in the opinion of tax counsel selected by the Executive and reasonably accept- able to the Company, the Executive has or will receive any compensation or recognize any income (whether or not pursuant to this Agreement or any plan or other arrangement of the Company and whether or not the Executive's employment with the Company has terminated) which constitute an "excess parachute payment" within the meaning of Section 280G(b)(1) of the Code (or for which a tax is otherwise payable under Section 4999 of the Code), then the Company shall pay the Executive an additional amount (the "Additional Amount") equal to the sum of (i) all taxes payable by the Executive under Section 4999 of the Code with respect to (a) all such excess parachute payments (or otherwise), and (b) the Additional Amount, plus (ii) all federal, state and local income taxes payable by Executive with respect to the Additional Amount. The amounts payable pursuant to this Section 10 shall be paid by the Company to the Executive within 30 days of the written request therefor made by the Executive, but in all events (whether or not there has been a written request by the Executive) not later than the date of the "change in control of the Company", unless otherwise agreed to in writing by the Executive.

Additional Amount. Whether or not Section 9 is applicable, if in the opinion of tax counsel selected by the Executive and reasonably accept- able acceptable to the Company, the Executive has or will receive any compensation or recognize any income (whether or not pursuant to this Agreement or any plan or other arrangement of the Company and whether or not the Executive's employment with the Company has terminated) which constitute an "excess parachute payment" within the meaning of Section 280G(b)(1) of the Code (or for which a tax is otherwise payable under Section 4999 of the Code), then the Company shall pay the Executive an additional amount (the "Additional Amount") equal to the sum of (i) all taxes payable by the Executive under Section 4999 of the Code with respect to (a) all such excess parachute payments (or otherwise), and (b) the Additional Amount, plus (ii) all federal, state and local income taxes payable by Executive with respect to the Additional Amount. The amounts payable pursuant to this Section 10 shall be paid by the Company to the Executive within 30 days of the written request therefor made by the Executive, but in all events (whether or not there has been a written request by the Executive) not later than the date of the "change in control of the Company", unless otherwise agreed to in writing by the Executive.