SEC Filings Section 16 Filings Only
 
PFSWEB INC filed this S-1/A on 11/03/1999.
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          "Distribution Date" means the Distribution Date as that term is
     defined in the Distribution Agreement.

          "Distribution Tax" means the Taxes described in Section 2.5(a)(ii).

          "Federal Income Tax" means any Tax imposed by Subtitle A or F of the
     Code.

          "Federal Tax Adjustment" shall have the meaning provided in Section
     2.2(b).

          "Final Determination" means the final resolution of liability for any
     Tax for a taxable period, including any related interest or penalties, (i)
     by IRS Form 870-AD (or any successor form thereto), on the date of
     acceptance by or on behalf of the IRS, or by a comparable agreement form
     under state, local or foreign law, except that a Form 870-AD or comparable
     form that reserves the right of the taxpayer to file a claim for refund
     and/or the right of the taxing authority to assert a further deficiency
     shall not constitute a Final Determination with respect to the item or
     items so reserved; (ii) by a decision, judgment, decree, or other order by
     a court of competent jurisdiction, which has become final and unappealable;
     (iii) by a closing agreement or offer in compromise under section 7121 or
     7122 of the Code, or comparable agreements under the any state, local or
     foreign law; (iv) by any allowance of a refund or credit in respect of an
     overpayment of Tax, including any related interest or penalties, but only
     after the expiration of all periods during which such refund may be
     recovered (including by way of offset) by the jurisdiction imposing the
     Tax; or (v) by any other final disposition, including by reason of the
     expiration of the applicable statute of limitations or pursuant to Code
     sections 1311 through 1313, or comparable provision of state, local, or
     foreign law.

          "Foreign Income Tax" means any Tax imposed by any foreign country or
     any possession of the United States, or by any political subdivision of any
     foreign country or United States possession, which is an income tax as
     defined in Treasury Regulation Section 1.901-2.

          "Group" means the Distributing Group or the Controlled Group, as the
     context requires.

          "Income Tax" means any Federal Income Tax, State Income Tax, or
     Foreign Income Tax.

          "IPO Date" means the closing date of the IPO.

          "Joint Adjustment" means any proposed adjustment resulting from a Tax
     Contest that is not a (i) Controlled Adjustment, (ii) a Distributing
     Adjustment, or (iii) any other type of adjustment that give rise to an
     indemnification payment by one Company to the other Company pursuant to
     this Agreement.

          "Payment Date" means (i) with respect to any Distributing Federal
     Consolidated Return, the due date for any required installment of estimated
     taxes determined under Code Section 6655, the due date (determined without
     regard to extensions) for filing the return determined under Code Section
     6072, and the date the return is filed, and (ii)

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