Special Rules Applicable to Reduction of Payments. The Executive shall determine which and how much of the Parachute Payments shall be reduced consistent with the requirements of Section 3.8(a)(ii), provided that, if the Executive does not make such determination within 10 business days after the receipt of the calculations made by the Accounting Firm, the Employer shall elect which and how much of the Parachute Payments shall be eliminated or reduced consistent with the requirements of Section 3.8(a)(ii) and shall notify the Executive promptly of such election.
Appears in 9 contracts
Samples: Executive Employment Agreement (Howard Bancorp Inc), Executive Employment Agreement (Howard Bancorp Inc), Executive Employment Agreement (Howard Bancorp Inc)
Special Rules Applicable to Reduction of Payments. The Executive Employee shall determine which and how much of the Parachute Payments shall be reduced consistent with the requirements of Section 3.8(a)(ii), provided that, if the Executive Employee does not make such determination within 10 business days after the receipt of the calculations made by the Accounting Firm, the Employer shall elect which and how much of the Parachute Payments shall be eliminated or reduced consistent with the requirements of Section 3.8(a)(ii) and shall notify the Executive Employee promptly of such election.
Appears in 6 contracts
Samples: Employment Agreement (Howard Bancorp Inc), Employment Agreement (Howard Bancorp Inc), Employment Agreement (Howard Bancorp Inc)
Special Rules Applicable to Reduction of Payments. The Executive Employee shall determine which and how much of the Parachute Payments shall be reduced consistent with the requirements of Section 3.8(a)(ii), provided that, if the Executive Employee does not make such determination within 10 ten (10) business days after the receipt of the calculations made by the Accounting Firm, the Employer shall elect which and how much of the Parachute Payments shall be eliminated or reduced consistent with the requirements of Section 3.8(a)(ii) and shall notify the Executive Employee promptly of such election.
Appears in 2 contracts
Samples: Employment Agreement (Cn Bancorp Inc), Employment Agreement (Cn Bancorp Inc)
Special Rules Applicable to Reduction of Payments. The Executive shall determine which and how much of the Parachute Payments shall be reduced consistent with the requirements of Section 3.8(a)(ii4(a)(ii), provided that, if the Executive does not make such determination within 10 business days after the receipt of the calculations made by the Accounting Firm, the Employer Bank shall elect which and how much of the Parachute Payments shall be eliminated or reduced consistent with the requirements of Section 3.8(a)(ii4(a)(ii) and shall notify the Executive promptly of such election.
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