Common use of Expenses and Interest Clause in Contracts

Expenses and Interest. If, after a Change in Control of the Company, (i) a dispute arises with respect to the enforcement of the Executive’s rights under this Agreement or (ii) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys’ fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding (“Expenses”), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New York, from time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s written request therefor, the Company shall pay to the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

Appears in 5 contracts

Samples: Executive Employment Agreement (Hudson Highland Group Inc), Executive Employment Agreement (Hudson Highland Group Inc), Executive Employment Agreement (Hudson Highland Group Inc)

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Expenses and Interest. If, after a Change in Control of the Company, (ia) a dispute arises with respect to the enforcement of the Executive’s 's rights under this Agreement or (iib) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys' fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding ("Expenses"), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The U.S. Bank of New YorkNational Association, Minneapolis, Minnesota, from time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s 's written request therefor, the Company shall pay to the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s 's reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

Appears in 4 contracts

Samples: Key Executive Employment and Severance Agreement (Pentair Inc), Key Executive Employment and Severance Agreement (Pentair Inc), Key Executive Employment and Severance Agreement (Pentair Inc)

Expenses and Interest. If, after a Change in Control of the --------------------- Company, , (ia) a dispute arises with respect to the enforcement of the Executive’s 's rights under this Agreement or (iib) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys' fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding ("Expenses"), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New York, from time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s 's written request therefor, the Company shall pay to the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s 's reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

Appears in 2 contracts

Samples: Key Executive Employment and Severance Agreement (Fiserv Inc), Key Executive Employment and Severance Agreement (Fiserv Inc)

Expenses and Interest. If, after a Change in Control of the Company, (ia) a dispute arises with respect to the enforcement of the Executive’s rights under this Agreement or (iib) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys’ fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding (“Expenses”), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New York, from time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s written request therefor, the Company shall pay to the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

Appears in 2 contracts

Samples: Key Executive Employment and Severance Agreement (Fiserv Inc), Executive Excise Tax Gross Up Agreement (Hudson Highland Group Inc)

Expenses and Interest. If, after a Change in Control of the Company, (ia) a dispute arises with respect to the enforcement of the Executive’s rights under this Agreement or (iib) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys’ fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding (“Expenses”), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New YorkM&I Mxxxxxxx & Ixxxxx Bank, from time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s written request therefor, the Company shall pay to the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

Appears in 1 contract

Samples: Key Executive Employment and Severance Agreement (Regal Beloit Corp)

Expenses and Interest. If, after a Change in Control of the Company, (ia) a dispute arises with respect to the enforcement of the Executive’s 's rights under this Agreement or (iib) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys' fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding ("Expenses"), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New YorkM&I Marshall & Isley Xxxx, from time xxom xxxx to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s 's written request therefor, the Company shall pay to the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s 's reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

Appears in 1 contract

Samples: Key Executive Employment and Severance Agreement (Regal Beloit Corp)

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Expenses and Interest. If, after a Change in Control of the Company, (ia) a dispute arises with respect to the enforcement of the Executive’s 's rights under this Agreement or (iib) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys' fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding ("Expenses"), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New York____________________________, from time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s 's written request therefor, the Company shall pay to the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s 's reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

Appears in 1 contract

Samples: Key Executive Employment and Severance Agreement (Regal Beloit Corp)

Expenses and Interest. If, after a Change in Control of the Company, (ia) a dispute arises with respect to the enforcement of the Executive’s rights under this Agreement or (iib) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys’ fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding (“Expenses”), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New York, from time to time at its prime or base lending applicable federal rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s written request therefortherefor (but in no event later than the end of the calendar year following the calendar year in which such Expense is incurred), the Company shall pay to reimburse the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceedingExpenses.

Appears in 1 contract

Samples: Key Executive Change in Control Agreement (AgFeed Industries, Inc.)

Expenses and Interest. If, after a Change in Control of the Company, (ia) a dispute arises with respect to the enforcement of the Executive’s rights under this Agreement or (iib) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys’ fees and necessary costs and disbursements incurred as a result of the dispute, legal or arbitration proceeding (“Expenses”), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New York, or a comparable institution if The Bank of New York no longer exists, from time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten days after the Executive’s written request therefor, the Company shall pay to the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s reasonable Expenses in advance of the final disposition or conclusion of any such dispute, legal or arbitration proceeding.

Appears in 1 contract

Samples: Key Executive Employment and Severance Agreement (Fiserv Inc)

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