Dividend Tax Gross-Up

Dividend Tax Gross-Up. For purposes of this Agreement, "Dividend Tax Gross-Up" is defined as an amount which, after payment of all Federal, state and local income, excise and employment taxes imposed thereon, will equal the amount by which (A) the aggregate amount of all Federal, state and local income, excise taxes and employment taxes payable by Employee on either the Dividend Payment or Lost Stock Value (as applicable) exceeds (B) the aggregate amount of all Federal, state and local income, excise and employment... taxes that would have been payable by Employee on the amount of the applicable Dividend Payment or Lost Stock Value if he had received such amount from the Company as a corporate dividend instead of as a payment of compensation. View More