Common use of Additional Gross-up Amounts Clause in Contracts

Additional Gross-up Amounts. If for any reason (whether pursuant to subsequently-enacted provisions of the Code, final regulations or published rulings of the Internal Revenue Service (“IRS”), a final judgment of a court of competent jurisdiction or a determination of the Company's independent auditors) it is later determined that the amount of Excise Taxes payable by Executive is greater than the amount determined by the Company or Executive pursuant to Section 9(a) or 9(b), as applicable, then the Company shall pay Executive an amount (which shall also be deemed a Gross-Up Payment) equal to the product of: (i) the sum of (A) such additional Excise Taxes and (B) any interest, fines, penalties, expenses or other costs incurred by Executive as a result of having taken a position in accordance with a determination made pursuant to Section 9(a) or 9(b), as applicable, multiplied by: (ii) the Gross-Up Multiple.