Common use of Overpayments; Underpayments Clause in Contracts

Overpayments; Underpayments. As a result of the uncertainty in the application of Code section 280G at the time of the initial determination by the Accounting Firm hereunder, it is possible that the Parachute Payments will have been made by the Employer which should not have been made (“Overpayment”), or that additional Parachute Payments which will not have been made by the Employer could have been made (“Underpayment”), in each case consistent with the calculations required to be made hereunder. Overpayments and Underpayments arising in connection with Parachute Payments appropriately determined pursuant to Section 3.8(a)(i) or Section 3.8(a)(ii) are governed by this Section 3.8(e). Any Overpayment or Underpayment arising in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(iii) are governed by the provisions of Section 3.8(d).

Appears in 6 contracts

Samples: Employment Agreement (Howard Bancorp Inc), Employment Agreement (Howard Bancorp Inc), Employment Agreement (Howard Bancorp Inc)

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Overpayments; Underpayments. As a result of the uncertainty in the application of Code section Section 280G at the time of the initial determination by the Accounting Firm hereunder, it is possible that the Parachute Payments will have been made by the Employer which should not have been made (“Overpayment”), or that additional Parachute Payments which will not have been made by the Employer could have been made (“Underpayment”), in each case consistent with the calculations required to be made hereunder. Overpayments and Underpayments arising in connection with Parachute Payments appropriately determined pursuant to Section 3.8(a)(i) or Section 3.8(a)(ii) are governed by this Section 3.8(e). Any Overpayment or Underpayment arising in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(iii) are governed by the provisions of Section 3.8(d).

Appears in 6 contracts

Samples: Executive Employment Agreement (Howard Bancorp Inc), Executive Employment Agreement (Howard Bancorp Inc), Executive Employment Agreement (Howard Bancorp Inc)

Overpayments; Underpayments. As a result of the uncertainty in the application of Code section Section 280G at the time of the initial determination by the Accounting Firm hereunder, it is possible that the Parachute Payments will have been made by the Employer which that should not have been made (“Overpayment”), or that additional Parachute Payments which that will not have been made by the Employer could have been made (“Underpayment”), in each case consistent with the calculations required to be made hereunder. Overpayments and Underpayments arising in connection with Parachute Payments appropriately determined pursuant to Section 3.8(a)(i) or Section 3.8(a)(ii) are governed by this Section 3.8(e). Any Overpayment or Underpayment arising in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(iii) are governed by the provisions of Section 3.8(d).

Appears in 3 contracts

Samples: Executive Employment Agreement (Howard Bancorp Inc), Executive Employment Agreement (Howard Bancorp Inc), Executive Employment Agreement (Howard Bancorp Inc)

Overpayments; Underpayments. As a result of the uncertainty in the application of Code section Section 280G at the time of the initial determination by the Accounting Firm hereunder, it is possible that the Parachute Payments will have been made by the Employer which should not have been made (“Overpayment”), or that additional Parachute Payments which will not should have been made by the Employer could have been were not made (“Underpayment”), in each case consistent with the calculations required to be made hereunder. Overpayments and Underpayments arising in connection with Parachute Payments appropriately determined pursuant to Section 3.8(a)(i) or Section 3.8(a)(ii) are governed by this Section 3.8(e). Any Overpayment or Underpayment arising in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(iii) are governed by the provisions of Section 3.8(d).

Appears in 2 contracts

Samples: Employment Agreement (Cn Bancorp Inc), Employment Agreement (Cn Bancorp Inc)

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Overpayments; Underpayments. As a result of the uncertainty in the application of Code section 280G at the time of the initial determination by the Accounting Firm hereunder, it is possible that the Parachute Payments will have been made by the Employer Bank which should not have been made ("Overpayment"), or that additional Parachute Payments which will not have been made by the Employer could Bank should have been made ("Underpayment"), in each case consistent with the calculations required to be made hereunder. Overpayments and Underpayments arising in connection with Parachute Payments appropriately determined pursuant to Section 3.8(a)(i4(a)(i) or Section 3.8(a)(ii4(a)(ii) are governed by this Section 3.8(e4.8(e). Any Overpayment or Underpayment arising in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(iii4(a)(iii) are governed by the provisions of Section 3.8(d4(d).

Appears in 1 contract

Samples: Change in Control Agreement (Howard Bancorp Inc)

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