Interest on Overdue Payments. Without limiting the rights of Executive at law or in equity, if the Company fails to make the Lump-Sum Payment or any Gross-Up Payment on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate equal to the rate in effect, at the time such payment should have been made, under the 401(k) Plan for loans to participants in such plan.
Appears in 14 contracts
Samples: Employment Agreement (RPM International Inc/De/), Employment Agreement (RPM International Inc/De/), Employment Agreement (RPM International Inc/De/)
Interest on Overdue Payments. Without limiting the rights of Executive at law or in equity, if the Company fails to make the Lump-Sum Payment or any Gross-Up Payment on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate equal to the rate in effect, at the time such payment should have been made, under the 401(k) Plan for loans to participants in such plan.
Appears in 5 contracts
Samples: Employment Agreement (RPM International Inc/De/), Employment Agreement (RPM International Inc/De/), Employment Agreement (RPM Inc/Oh/)