Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Bank under Section 3.9 herein so that Executive did not receive the greatest net benefit, the Bank shall reimburse him for the full amount necessary to make him whole, plus a market rate of interest, as determined by the Compensation Committee of the Board.
Appears in 4 contracts
Samples: Executive Employment Agreement (Bancorp Rhode Island Inc), Executive Employment Agreement (Bancorp Rhode Island Inc), Executive Employment Agreement (Bancorp Rhode Island Inc)
Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Bank under Section 3.9 herein so that Executive did not receive the greatest net benefit, the Bank shall reimburse him Executive for the full amount necessary to make him her whole, plus a market rate of interest, as determined by the Compensation Committee of the Board.
Appears in 2 contracts
Samples: Executive Employment Agreement (Bancorp Rhode Island Inc), Executive Employment Agreement (Bancorp Rhode Island Inc)
Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Bank under Section 3.9 herein so that Executive did not receive the greatest net benefit, the Bank shall reimburse him her for the full amount necessary to make him her whole, plus a market rate of interest, as determined by the Compensation Committee of the Board.
Appears in 1 contract
Samples: Executive Employment Agreement (Bancorp Rhode Island Inc)
