Common use of Reimbursement of Expenses in Enforcing Rights Clause in Contracts

Reimbursement of Expenses in Enforcing Rights. All reasonable costs and expenses, including, without limitation, fees and disbursements of actuaries, accountants and counsels incurred by the Executive in seeking in good faith to enforce rights pursuant to this Agreement that are denied by the Bank shall be paid on behalf of or reimbursed to the Executive promptly by the Bank after it is established that the benefit denial was wrongful. Except in the case of a Change in Control, the Executive shall be responsible to reimburse the Bank for amounts expended by the Bank under this Section if an enforcement action is initiated by the Executive hereunder and the Executive does not substantially prevail on any substantial merits of such enforcement action.

Appears in 4 contracts

Samples: Supplemental Executive Retirement Agreement (Fairfield County Bank Corp.), Supplemental Executive Retirement Agreement (Fairfield County Bank Corp.), Supplemental Executive Retirement Agreement (Fairfield County Bank Corp.)

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