Common use of AND IT IS FURTHER UNDERSTOOD Clause in Contracts

AND IT IS FURTHER UNDERSTOOD. AND AGREED that the Releasor does hereby agree to indemnify and save harmless the Releasee against any and all liability, taxes, penalties, interest, demands, costs or expenses that it may hereinafter incur, suffer, or be required to pay, in excess of the amounts withheld in connection with the payments to the Releasor, by way of statutorily required deductions to Revenue Canada, Taxation (on account of Income Tax and Canada Pension) or to Human Resources Development Canada (on account of Employment Insurance Benefit repayment), attributable to the sums paid pursuant to the Employment Agreement.