Common use of Treatment of Claims Clause in Contracts

Treatment of Claims. Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require a Gross-Up Payment to be made. Such notification shall be given as soon as practicable, but no later than ten business days, after Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. Executive shall not pay such claim prior to the expiration of the thirty (30) day period following the date on which it gives such notice to the Company (or any shorter period ending on the date that payment of taxes with respect to such claim is due). If the Company notifies Executive in writing prior to the expiration of this period that it desires to contest such claim, Executive shall:

Appears in 6 contracts

Samples: Change in Control Agreement (Berkshire Hills Bancorp Inc), Change in Control Agreement (Berkshire Hills Bancorp Inc), Change in Control Agreement (Berkshire Hills Bancorp Inc)

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Treatment of Claims. Executive shall notify the Holding Company in writing of any claim by the Internal Revenue Service that, if successful, would require a Gross-Up Payment to be made. Such notification shall be given as soon as practicable, but no later than ten business days, after Executive is informed in writing of such claim and shall apprise the Holding Company of the nature of such claim and the date on which such claim is requested to be paid. Executive shall not pay such claim prior to the expiration of the thirty (30) day period following the date on which it gives such notice to the Holding Company (or any shorter period ending on the date that payment of taxes with respect to such claim is due). If the Holding Company notifies Executive in writing prior to the expiration of this period that it desires to contest such claim, Executive shall:

Appears in 5 contracts

Samples: Year Change in Control Agreement (Berkshire Hills Bancorp Inc), Year Change in Control Agreement (Berkshire Hills Bancorp Inc), Year Change in Control Agreement (Berkshire Hills Bancorp Inc)

Treatment of Claims. The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require a Gross-Up Payment to be made. Such notification shall be given as soon as practicable, but no later than ten business days, after the Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the thirty (30) day period following the date on which it gives such notice to the Company (or any shorter period ending on the date that payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of this period that it desires to contest such claim, the Executive shall:

Appears in 5 contracts

Samples: Employment Agreement (Chicopee Bancorp, Inc.), Employment Agreement (Chicopee Bancorp, Inc.), Employment Agreement (Chicopee Bancorp, Inc.)

Treatment of Claims. The Executive shall notify the Company Bank in writing of any claim by the Internal Revenue Service that, if successful, would require a the payment by the Bank of the Gross-Up Payment to be madePayment. Such notification shall be given as soon as practicable, practicable but no later than ten business days, days after the Executive is informed in writing of such claim and shall apprise the Company Bank of the nature of such claim claims and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the thirty (30) -day period following the date on which it gives such notice to the Company Bank (or any such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company Bank notifies the Executive in writing prior to the expiration of this such period that it desires to contest such claim, the Executive shall:

Appears in 3 contracts

Samples: Supplemental Employee Retirement Agreement (Territorial Bancorp Inc.), Supplemental Employee Retirement Agreement (Territorial Bancorp Inc.), Supplemental Employee Retirement Agreement (Territorial Bancorp Inc.)

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Treatment of Claims. The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require a Gross-Gross- Up Payment to be made. Such notification shall be given as soon as practicable, but no later than ten (10) business days, after the Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the thirty (30) day period following the date on which it gives such notice to the Company (or any shorter period ending on the date that payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of this period that it desires to contest such claim, the Executive shall:

Appears in 2 contracts

Samples: Year Employment Agreement (Newport Bancorp Inc), Year Employment Agreement (Newport Bancorp Inc)

Treatment of Claims. The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require a Gross-Up Payment to be made. Such notification shall be given as soon as practicable, but no later than ten (10) business days, after the Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the thirty (30) day period following the date on which it gives such notice to the Company (or any shorter period ending on the date that payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of this period that it desires to contest such claim, the Executive shall:

Appears in 1 contract

Samples: Employment Agreement (Newport Bancorp Inc)

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