Common use of Additional Gross-up Amounts Clause in Contracts

Additional Gross-up Amounts. If for any reason it is later determined (whether pursuant to the subsequently-enacted provisions of the Code, final regulations or published rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.1, an Executive’s Determination) that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 or 6.2, as applicable, then the Company shall, subject to Sections 6.6 and 6.7, pay the Executive an amount (which shall also be deemed a Gross-up Payment) equal to the product of: (a) the sum of (1) such additional Excise Taxes and (2) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with determination made pursuant to Section 6.1 or 6.2, as applicable, multiplied by (b) the Gross-up Multiple.

Appears in 9 contracts

Sources: Change in Control Agreement (Nicor Inc), Change in Control Agreement (Nicor Inc), Change in Control Agreement (Nicor Inc)

Additional Gross-up Amounts. If for any reason it is later determined (whether pursuant to the subsequently-enacted provisions of the Code, final regulations or published rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s 's independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.1, an Executive’s 's Determination) that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 or 6.2, as applicable, then the Company shall, subject to Sections 6.6 and 6.7, pay the Executive an amount (which shall also be deemed a Gross-up Payment) equal to the product of: (a) the sum of (1) such additional Excise Taxes and (2) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with determination made pursuant to Section 6.1 or 6.2, as applicable, multiplied by (b) the Gross-up Multiple.

Appears in 7 contracts

Sources: Change in Control Agreement (Nicor Inc), Change in Control Agreement (Nicor Inc), Change in Control Agreement (Nicor Inc)

Additional Gross-up Amounts. If for any reason it is later determined (whether pursuant to the subsequently-subsequently enacted provisions of the Code, final regulations or published rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s 's independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.18.6(a), an Executive’s 's Determination) it is later determined that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 8.5 or 6.28.6, as applicable, then the Company shall, subject to Sections 6.6 8.10 and 6.78.11, pay the Executive an amount (which shall also be deemed a Gross-up Up Payment) equal to the product of: (a) the sum of (1) such additional Excise Taxes and (2) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with a determination made pursuant to Section 6.1 8.5 or 6.28.6, as applicable, multiplied by (b) the Gross-up Up Multiple.

Appears in 2 contracts

Sources: Employment Agreement (Exelon Corp), Employment Agreement (Commonwealth Edison Co)

Additional Gross-up Amounts. If for any reason it is later determined (whether pursuant to the subsequently-subsequently enacted provisions of the Code, final regulations or published rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s 's independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.15.2(a), an Executive’s 's Gross-Up Determination) it is later determined that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 5.1 or 6.25.2, as applicable, then the Company shall, subject to Sections 6.6 5.6 and 6.75.7, pay the Executive an amount (which shall also be deemed a Gross-up Up Payment) equal to the product of: (a) the sum of (1i) such additional Excise Taxes and (2ii) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with a determination made pursuant to Section 6.1 5.1 or 6.25.2, as applicable, multiplied by by (b) the Gross-up Up Multiple.

Appears in 2 contracts

Sources: Change of Control Employment Agreement (Allstate Corp), Change of Control Employment Agreement (Allstate Corp)

Additional Gross-up Amounts. If for any reason it is later determined (whether pursuant to the subsequently-subsequently enacted provisions of the Code, final regulations or published rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.18.6(a), an Executive’s Determination) it is later determined that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 8.5 or 6.28.6, as applicable, then the Company shall, subject to Sections 6.6 8.10 and 6.78.11, pay the Executive an amount (which shall also be deemed a Gross-up Up Payment) equal to the product of: (a) the sum of (1) such additional Excise Taxes and (2) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with a determination made pursuant to Section 6.1 8.5 or 6.28.6, as applicable, multiplied by by (b) the Gross-up Up Multiple.

Appears in 2 contracts

Sources: Employment Agreement (Exelon Generation Co LLC), Employment Agreement (Commonwealth Edison Co)

Additional Gross-up Amounts. If for any reason it is later determined (whether pursuant to the subsequently-enacted provisions of the Code, final regulations or published rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s 's independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.16.2(a), an Executive’s 's Determination) that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 or 6.2, as applicable, then the Company shall, subject to Sections 6.6 and 6.7, pay the Executive an amount (which shall also be deemed a Gross-up Payment) equal to the product of: (a) the The sum of (1) such additional Excise Taxes and (2) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with a determination made pursuant to Section 6.1 or 6.2, as applicable, multiplied by (b) the The Gross-up Multiple.

Appears in 1 contract

Sources: Change in Control Agreement (Peco Energy Co)

Additional Gross-up Amounts. If for any reason it is later determined (whether --------------------------- pursuant to the subsequently-subsequently enacted provisions of the Code, final regulations or published rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s 's independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.18.6(a), an Executive’s 's Determination) it is later determined that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 8.5 or 6.28.6, as applicable, then the Company shall, subject to Sections 6.6 8.10 and 6.78.11, pay the Executive an amount (which shall also be deemed a Gross-up Up Payment) equal to the product of: (a) the sum of (1) such additional Excise Taxes and (2) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with a determination made pursuant to Section 6.1 8.5 or 6.28.6, as applicable, multiplied by (b) the Gross-up Up Multiple.

Appears in 1 contract

Sources: Employment Agreement (Commonwealth Edison Co)

Additional Gross-up Amounts. If for any reason it is later determined (whether pursuant to the subsequently-enacted provisions of the Code, final regulations or published 17 rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.1, an Executive’s Determination) that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 or 6.2, as applicable, then the Company shall, subject to Sections 6.6 and 6.7, pay the Executive an amount (which shall also be deemed a Gross-up Payment) equal to the product of: (a) the sum of (1) such additional Excise Taxes and (2) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with determination made pursuant to Section 6.1 or 6.2, as applicable, multiplied by by (b) the Gross-up Multiple.

Appears in 1 contract

Sources: Change in Control Agreement (Nicor Inc)

Additional Gross-up Amounts. If for any reason it is later determined --------------------------- (whether pursuant to the subsequently-enacted provisions of the Code, final regulations or published rulings of the IRS, a final judgment of a court of competent jurisdiction, a determination of the Company’s 's independent auditors set forth in a Company Certificate or, subject to the last two sentences of Section 6.2.16.2(a), an Executive’s 's Determination) that the amount of Excise Taxes payable by the Executive is greater than the amount determined by the Company or the Executive pursuant to Section 6.1 or 6.2, as applicable, then the Company shall, subject to Sections 6.6 and 6.7, pay the Executive an amount (which shall also be deemed a Gross-up Payment) equal to the product of: (a) the sum of (1) such additional Excise Taxes and (2) any interest, fines, penalties, expenses or other costs incurred by the Executive as a result of having taken a position in accordance with a determination made pursuant to Section 6.1 or 6.2, as applicable, multiplied by (b) the Gross-up Multiple.

Appears in 1 contract

Sources: Change in Control Agreement (Commonwealth Edison Co)