Common use of Determinations Shall Be Made by the Accounting Firm Clause in Contracts

Determinations Shall Be Made by the Accounting Firm. Subject to the provisions of Section 7.4(a), all determinations required to be made under this Section 7.4(b) – including whether and when a Gross-Up Payment Amount is required, the amount of the Gross-Up Payment Amount and the assumptions to be used to arrive at the determination (collectively, the “Determination”) – shall be made by the Accounting Firm, which shall provide detailed supporting calculations both to BNC and the Executive within 15 business days after receipt of notice from BNC or the Executive that there has been a Gross-Up Payment Amount, or such earlier time as is requested by BNC.

Appears in 3 contracts

Samples: Employment Agreement (BNC Bancorp), Employment Agreement (BNC Bancorp), Employment Agreement (BNC Bancorp)

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Determinations Shall Be Made by the Accounting Firm. Subject to the provisions of Section 7.4(a), all determinations required to be made under this Section 7.4(b) – including whether and when a Gross-Up Payment Amount is required, the amount of the Gross-Up Payment Amount and the assumptions to be used to arrive at the determination (collectively, the “Determination”) – shall be made by the Accounting Firm, which shall provide detailed supporting calculations both to BNC the Bank and the Executive within 15 business days after receipt of notice from BNC the Bank or the Executive that there has been a Gross-Up Payment Amount, or such earlier time as is requested by BNCthe Bank.

Appears in 1 contract

Samples: Employment Agreement (Bank of Wilmington CORP)

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Determinations Shall Be Made by the Accounting Firm. Subject to the provisions of Section 7.4(a), all determinations required to be made under this Section 7.4(b) B including whether and when a Gross-Up Payment Amount is required, the amount of the Gross-Up Payment Amount and the assumptions to be used to arrive at the determination (collectively, the “Determination”) B shall be made by the Accounting Firm, which shall provide detailed supporting calculations both to BNC Crescent and the Executive within 15 business days after receipt of notice from BNC Crescent or the Executive that there has been a Gross-Up Payment Amount, or such earlier time as is requested by BNCCrescent.

Appears in 1 contract

Samples: Employment Agreement (Crescent Financial Corp)

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