Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Company under Section 7.4 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee.
Appears in 9 contracts
Samples: Employment Agreement (Bank of America Corp /De/), Employment Agreement (Nationsbank Corp), Employment Agreement (Boatmens Bancshares Inc /Mo)
Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Company under Section 7.4 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee.
Appears in 6 contracts
Samples: Change in Control Agreement (Cullen Frost Bankers Inc), Change in Control Agreement (Cullen Frost Bankers Inc), Executive Severance Agreement (Old Kent Financial Corp /Mi/)
Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Company under Section 7.4 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the CommitteeCompany.
Appears in 4 contracts
Samples: Executive Change in Control Severance Agreement (Mitchell Energy & Development Corp), Executive Change in Control Severance Agreement (Mitchell Energy & Development Corp), Executive Change in Control Severance Agreement (Mitchell Energy & Development Corp)
Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Company under Section 7.4 2.4 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee.
Appears in 2 contracts
Samples: Employment Agreement (Providence Energy Corp), Employment Agreement (Providence Gas Co)
Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Company under Section 7.4 herein 4.2 herein, so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a an appropriate market rate of interest, as determined by the CommitteeCompany's independent auditors.
Appears in 1 contract
Samples: Executive Severance Agreement (Amsouth Bancorporation)
Subsequent Recalculation. In the event the Internal Revenue Service adjusts the computation of the Company under Section 7.4 herein 8.1 herein, which adjustment becomes binding on the Service, the Company, the Bank, and the Executive, so that the Executive did not receive the greatest net benefit, the Company Bank shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee.
Appears in 1 contract
