Benefits Gross-Up Payment

Benefits Gross-Up Payment. Shall mean an amount such that, after payment by Executive of all income and employment taxes (and any interest and/or penalties imposed with respect to such taxes, other than interest or penalties imposed as a result of any wrongful act or omission by Executive) as a result of Executive's receipt of a specified benefit under this Agreement, including, without limitation, any taxes (and any interest and/or penalties imposed with respect thereto, other than interest or penalties imposed as a... result of any wrongful act or omission by Executive) imposed upon the Benefits Gross-Up Payment, Executive retains an amount of the Benefits Gross-Up Payment equal to all such taxes imposed on Executive's receipt of such benefits. View More