Gross-up Payment

Gross-up Payment. 5.1

Gross-up Payment. With respect to any amount includible in the Executive's gross income for federal income tax purposes (the "Taxable Benefit"), an amount in cash equal to (i) the product of the Highest Marginal Income Tax Rate and the Taxable Benefit, (ii) divided by one minus the Highest Marginal Income Tax Rate. The Highest Marginal Income Tax Rate shall mean the sum of the highest marginal combined local, state and federal personal income tax rates (including tax rates associated with any state unemployment... compensation tax, any tax imposed under the Federal Insurance Contributions Act, any excise tax or surtax, and any other tax on income based on the Company's employment of the Executive), as in effect for the calendar year in which the Taxable Benefit is includible in the gross income of the Executive for federal income tax purposes. The Gross Up Payment shall be paid within ten (10) days of the payment or realization for federal income tax purposes of the Taxable Benefit. View More

Gross-up Payment. Shall have the meaning set forth in Paragraph 6(g) hereof.

Gross-up Payment. Shall have the meaning set forth in Paragraph 5(d)(ii) hereof.

Gross-up Payment. An amount such that, after payment by the Executive of all Taxes and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments

Gross-up Payment. Means the payment required by Exhibit 1 to this Agreement, which is incorporated herein by reference.

Gross-up Payment. Has the meaning set forth in Section 5c.