Interest on Payments. If the Company fails to pay any amounts due to Executive under this Agreement as they come due, the Company agrees to pay interest on such amounts at the Applicable Federal Rate plus two percent (2%) per annum. If any payment is in excess of the amount due, the excess shall constitute a loan by the Company to the Executive, payable on the 90th day after demand by the Company, together with interest at the Applicable Federal Rate.
Appears in 3 contracts
Samples: Executive Agreement (Sprint Corp), Executive Agreement (Sprint Corp), Employment Agreement (Sprint Corp)
