First Reimbursement Payment

First Reimbursement Payment. The "First Reimbursement Payment") equal to 100% of any Excise Tax actually paid or payable by Executive in connection with the Payments, plus an additional payment from the Company in such amount that after payment of all taxes on the First Reimbursement Payment (including, without limitation, any interest and penalties on such taxes and the Excise Tax), Executive retains an amount equal to Reimbursement Payment.