Common use of Indemnification for Tax Liability Clause in Contracts

Indemnification for Tax Liability. As additional consideration for the Option Shares, Optionee hereby agrees to reimburse Optionor with respect to any tax liability of Optionor associated with the transfer to Optionee of the Option shares. For purposes of this provision, Optionor's tax liability includes all federal, state and local taxes due as a result of the transfer, together with any penalties and interest associated therewith. In addition, Optionee will reimburse Optionor for the tax liability associated with the reimbursement payment pursuant to this Section so that, on an after tax basis, Optionor has been fully reimbursed for any tax liability associated with the transfer of the Option Shares to the Optionee.

Indemnification for Tax Liability. As additional consideration for the Option Shares, Optionee hereby agrees to reimburse Optionor with respect to any tax liability of Optionor associated with the transfer to Optionee of the Option shares. For purposes of this provision, Optionor's tax liability includes all federal, state and local taxes due as a result of the transfer, together with any penalties and interest associated therewith. In addition, Optionee will reimburse Optionor for the tax liability associated with the reimbursement payment pursuant to this Section so that, on an after after-tax basis, Optionor has been fully reimbursed for any tax liability associated with the transfer of the Option Shares to the Optionee.

Indemnification for Tax Liability. As additional consideration for the Option Shares, Optionee hereby agrees to reimburse Optionor with respect to any tax liability of Optionor associated with the transfer to Optionee of the Option sharesShares. For purposes of this provision, Optionor's tax liability includes all federal, state and local taxes due as a result of the transfer, together with any penalties and interest associated therewith. In addition, Optionee will reimburse Optionor for the tax liability associated with the reimbursement payment pursuant to this Section so that, on an after after-tax basis, Optionor has been fully reimbursed for any tax liability associated with the transfer of the Option Shares to the Optionee.