diff --git a/EIPS/eip-7623.md b/EIPS/eip-7623.md
index 748a50110c8c95..e9a7dd8c729d7e 100644
--- a/EIPS/eip-7623.md
+++ b/EIPS/eip-7623.md
@@ -25,42 +25,45 @@ By introducing a floor cost dependent on the ratio of gas spent on EVM operation
 
 ## Specification
 
-| Parameter | Value |
-| - | - |
-| `STANDARD_TOKEN_COST`    |  `4` |
-| `TOTAL_COST_FLOOR_PER_TOKEN`    |  `10` |
+| Parameter                    | Value |
+|------------------------------|-------|
+| `STANDARD_TOKEN_COST`        | `4`   |
+| `TOTAL_COST_FLOOR_PER_TOKEN` | `10`  |
 
 
 Let `tokens_in_calldata = zero_bytes_in_calldata + nonzero_bytes_in_calldata * 4`.
 
 Let `isContractCreation` be a boolean indicating the respective event.
 
-The current formula for determining the gas used per transaction, typically described as `nonzero_bytes_in_calldata * 16 + zero_bytes_in_calldata * 4`, is equivalent to:
+Let `execution_gas_used` be the gas used for EVM execution with the gas refund subtracted.
+
+The current formula for determining the total gas used per transaction (`tx.gasUsed`) is equivalent to:
 
 ```python
 tx.gasUsed = (
     21000
-        + STANDARD_TOKEN_COST * tokens_in_calldata
-        + evm_gas_used
-        + isContractCreation * (32000 + InitCodeWordGas * words(calldata))
+    + STANDARD_TOKEN_COST * tokens_in_calldata
+    + execution_gas_used
+    + isContractCreation * (32000 + INITCODE_WORD_COST * words(calldata))
 )
 ```
 
 The formula for determining the gas used per transaction changes to:
 
 ```python
-tx.gasUsed = {
+tx.gasUsed = (
     21000
-    + 
-    max (
+    +
+    max(
         STANDARD_TOKEN_COST * tokens_in_calldata
-           + evm_gas_used
-           + isContractCreation * (32000 + InitCodeWordGas * words(calldata)),
+        + execution_gas_used
+        + isContractCreation * (32000 + INITCODE_WORD_COST * words(calldata)),
         TOTAL_COST_FLOOR_PER_TOKEN * tokens_in_calldata
     )
+)
 ```
 
-Any transaction with a gas limit below `21000 + TOTAL_COST_FLOOR_PER_TOKEN * tokens_in_calldata` or below it's intrinsic gas cost (take the maximum of these two calculations) is considered invalid. This limitation exists because transactions must cover the floor price of their calldata without relying on the execution of the transaction. There are valid cases where `gasUsed` will be below this floor price, but the floor price needs to be reserved in the transaction gas limit.
+Any transaction with a gas limit below `21000 + TOTAL_COST_FLOOR_PER_TOKEN * tokens_in_calldata` or below its intrinsic gas cost (take the maximum of these two calculations) is considered invalid. This limitation exists because transactions must cover the floor price of their calldata without relying on the execution of the transaction. There are valid cases where `gasUsed` will be below this floor price, but the floor price needs to be reserved in the transaction gas limit.
 
 ## Rationale