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ALL » Topics » (a) If Executive incurs legal fees (including fees in connection with the delivery of an Executive Counsel Opinion) or other expenses (including expert witness

These excerpts taken from the ALL 10-K filed Feb 27, 2008.

(a)           If Executive incurs legal fees (including fees in connection with the delivery of an Executive Counsel Opinion) or other expenses (including expert witness

 

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and accounting fees) in an effort to determine, secure, preserve, establish entitlement to, or obtain benefits under this Agreement (collectively, “Legal and Other Expenses”), the Company shall, regardless of the outcome of such effort, pay or reimburse Executive for such Legal and Other Expenses in accordance with Section 6.1(b).

(b)           All Legal and Other Expenses shall be paid or reimbursed on a monthly basis within 10 days after Allstate’s receipt of Executive’s written request accompanied by evidence that such Legal and Other Expenses were incurred.

(c)           If Executive does not prevail (after exhaustion of all available judicial remedies) in respect of a claim by Executive or by the Company hereunder, and the Company establishes before a court of competent jurisdiction, by clear and convincing evidence, that Executive had no reasonable basis for his claim hereunder, or for his response to the Company’s claim hereunder, or acted in bad faith, no further payment of or reimbursement for Legal and Other Expenses shall be due to Executive in respect of such claim and Executive shall refund any amounts previously paid or reimbursed hereunder with respect to such claim.

6.2           Interest.  If the Company does not pay an amount due to Executive under this Agreement within five business days after such amount first became due and owing, interest shall accrue on such amount from the date it became due and owing until the date of payment at an annual rate equal to 200 basis points above the base commercial lending rate published in The Wall Street Journal in effect from time to time during the period of such nonpayment.

 

(a)           If Executive incurs legal fees
(including fees in connection with the delivery of an Executive Counsel
Opinion) or other expenses (including expert witness



 



25















 



and accounting fees) in an effort to determine,
secure, preserve, establish entitlement to, or obtain benefits under this
Agreement (collectively, “Legal and Other Expenses”), the Company shall,
regardless of the outcome of such effort, pay or reimburse Executive for such
Legal and Other Expenses in accordance with Section 6.1(b).



(b)           All Legal and Other Expenses shall be
paid or reimbursed on a monthly basis within 10 days after Allstate’s receipt
of Executive’s written request accompanied by evidence that such Legal and Other
Expenses were incurred.



(c)           If Executive does not prevail (after
exhaustion of all available judicial remedies) in respect of a claim by
Executive or by the Company hereunder, and the Company establishes before a
court of competent jurisdiction, by clear and convincing evidence, that
Executive had no reasonable basis for his claim hereunder, or for his response
to the Company’s claim hereunder, or acted in bad faith, no further payment of
or reimbursement for Legal and Other Expenses shall be due to Executive in
respect of such claim and Executive shall refund any amounts previously paid or
reimbursed hereunder with respect to such claim.



6.2           Interest.  If the Company does not pay an amount due to
Executive under this Agreement within five business days after such amount
first became due and owing, interest shall accrue on such amount from the date
it became due and owing until the date of payment at an annual rate equal to
200 basis points above the base commercial lending rate published in The Wall Street Journal in effect from time to time during
the period of such nonpayment.



 



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2008

RELATED TOPICS for ALL:

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