Common use of Refund Clause in Contracts

Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this Section, the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s complying with the requirements of this Section) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to this Section, a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 8 contracts

Samples: Employment Agreement (Vantage Drilling CO), Employment Agreement (Vantage Drilling CO), Employment Agreement (Vantage Drilling CO)

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Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this Sectionparagraph 3(c), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s 's complying with the requirements of this Sectionparagraph 3(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to this Sectionparagraph 3(c), a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 4 contracts

Samples: Change of Control, Confidentiality and Noncompete Agreement (Provell Inc), Change of Control, Confidentiality and Noncompete Agreement (Damark International Inc), Change of Control, Confidentiality and Noncompete Agreement (Damark International Inc)

Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 2.7.3, the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s complying with the requirements of this SectionSection 2.7.3) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 2.7.3, a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 4 contracts

Samples: Employment Agreement (Grey Wolf Inc), Employment Agreement (Grey Wolf Inc), Employment Agreement (Grey Wolf Inc)

Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 5, the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s Company complying with the requirements of this SectionSection 5) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of receives an amount advanced by the Company pursuant to this SectionSection 5, a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 4 contracts

Samples: Employment Agreement (Trizec Properties Inc), Employment Agreement (Trizec Properties Inc), Employment Agreement (Trizec Properties Inc)

Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 6(c), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s Company complying with the requirements of this SectionSection 6(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of receives an amount advanced by the Company pursuant to this SectionSection 6(c), a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 2 contracts

Samples: Employment Agreement (Tapstone Energy Inc.), Employment Agreement (Tapstone Energy Inc.)

Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 4(g)(iii), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s Company complying with the requirements of this SectionSection 4(g)(iii)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of receives an amount advanced by the Company pursuant to this SectionSection 4(g)(iii), a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Employment Agreement (Vonage Holdings Corp)

Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 7(c), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s 's complying with the requirements of this SectionSection 7(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 7(c), a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up up Payment required to be paid.

Appears in 1 contract

Samples: Severance Pay Agreement (Sherwin Williams Co)

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Refund. If, after the receipt by the Executive of an amount advanced or paid by the Company pursuant to this SectionSubparagraph (c), the Executive becomes entitled to receive any refund with respect to such claimClaim, the Executive shall (subject to the Company’s complying with the requirements of this Sectionsubparagraph (c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSubparagraph (c), a determination is made that the Executive shall not be entitled to any refund with respect to such claim Claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paidrepaid.

Appears in 1 contract

Samples: Employment Agreement (Navigant Consulting Inc)

Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 5(c), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s 's complying with the requirements of this SectionSection 5(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to this SectionSection 5(c), a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Change in Control Employment Agreement (Pathogenesis Corp)

Refund. If, after the receipt by the Executive of an amount advanced by the Company pursuant to this Sectionparagraph 5(c), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s 's complying with the requirements of this Sectionparagraph 5(c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to this Sectionparagraph 5(c), a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty (30) 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Employment Agreement (Damark International Inc)

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