Underpayments. The provisions of this subparagraph (ii) apply in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(i) or Section 3.8(a)(ii). If the Accounting Firm, based upon controlling precedent or other substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Employer to or for the benefit of the Executive, together with interest at the applicable federal rate provided for in Code Section 7872(f)(2).
Appears in 9 contracts
Samples: Executive Employment Agreement (Howard Bancorp Inc), Executive Employment Agreement (Howard Bancorp Inc), Executive Employment Agreement (Howard Bancorp Inc)
Underpayments. The provisions of this subparagraph (ii) apply in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(i) or Section 3.8(a)(ii). If the Accounting Firm, based upon controlling precedent or other substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Employer to or for the benefit of the ExecutiveEmployee, together with interest at the applicable federal rate provided for in Code Section section 7872(f)(2).
Appears in 6 contracts
Samples: Employment Agreement (Howard Bancorp Inc), Employment Agreement (Howard Bancorp Inc), Employment Agreement (Howard Bancorp Inc)
Underpayments. The provisions of this subparagraph (ii) apply in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(i) or Section 3.8(a)(ii). If the Accounting Firm, based upon controlling precedent or other substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Employer to or for the benefit of the ExecutiveEmployee, together with interest at the applicable federal rate provided for in Code Section 7872(f)(2).
Appears in 2 contracts
Samples: Employment Agreement (Cn Bancorp Inc), Employment Agreement (Cn Bancorp Inc)
Underpayments. The provisions of this subparagraph (ii) apply in connection with a Parachute Payment that is appropriately determined pursuant to Section 3.8(a)(i4(a)(i) or Section 3.8(a)(ii4(a)(ii). If the Accounting Firm, based upon controlling precedent or other substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Employer Bank to or for the benefit of the Executive, together with interest at the applicable federal rate provided for in Code Section 7872(f)(2section 7872(0(2).
Appears in 1 contract
