CHANGE OF CONTROL RELATED PROVISIONS. In each calendar year that Executive is entitled to receive payments or benefits under the provisions of this Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay Executive, subject to applicable withholding requirements under applicable state or federal law, an amount equal to:
Appears in 8 contracts
Samples: Employment Agreement (Efc Bancorp Inc), Employment Agreement (Massachusetts Fincorp Inc), Year Employment Agreement (Massachusetts Fincorp Inc)
CHANGE OF CONTROL RELATED PROVISIONS. In each calendar year that Executive is entitled to receive payments or benefits under the provisions of this Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay Executive, subject to applicable withholding requirements under applicable state or federal law, an amount equal to:
Appears in 3 contracts
Samples: Employment Agreement (Roslyn Bancorp Inc), Agreement and Plan of Merger (Roslyn Bancorp Inc), Agreement and Plan of Merger (Tr Financial Corp)
CHANGE OF CONTROL RELATED PROVISIONS. (a) In each calendar year that Executive is entitled to receive payments or benefits under the provisions of the Employment Agreement with the Bank and this Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G 28OG of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". ." As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay Executive, subject to applicable withholding requirements under applicable city, state or federal law, law an amount equal to:
Appears in 3 contracts
Samples: Employment Agreement (Patriot Bank Corp), Employment Agreement (Patriot Bank Corp), Employment Agreement (Patriot Bank Corp)
CHANGE OF CONTROL RELATED PROVISIONS. In each calendar year that the Executive is entitled to receive payments or benefits under the provisions of this Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay the Executive, subject to applicable withholding requirements under applicable state or federal law, an amount equal to:
Appears in 3 contracts
Samples: Year Employment Agreement (First Lincoln Bancshares Inc), Employment Agreement (First Lincoln Bancshares Inc), Employment Agreement (First Lincoln Bancshares Inc)
CHANGE OF CONTROL RELATED PROVISIONS. (a) In each calendar year that Executive is entitled to receive payments or benefits under the provisions of his Employment Agreement with the Holding Company and this Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G 28OG of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay Executive, subject to applicable withholding requirements under applicable city, state or federal law, law an amount equal to:
Appears in 3 contracts
Samples: Employment Agreement (Patriot Bank Corp), Employment Agreement (Patriot Bank Corp), Employment Agreement (Patriot Bank Corp)
CHANGE OF CONTROL RELATED PROVISIONS. In each calendar year that the Executive is entitled to receive payments or benefits under the provisions of this the Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay the Executive, subject to applicable withholding requirements under applicable state or federal law, an amount equal to:
Appears in 2 contracts
Samples: Amended And (SGV Bancorp Inc), Amended And (SGV Bancorp Inc)
CHANGE OF CONTROL RELATED PROVISIONS. In each calendar year that Executive is entitled to receive payments or benefits under the provisions of this Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment Payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay Executive, subject to applicable withholding requirements under applicable state or federal law, an amount equal to:
Appears in 1 contract
CHANGE OF CONTROL RELATED PROVISIONS. In each calendar year that Executive is entitled to receive payments or benefits under the provisions of this Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay Executive, subject to applicable withholding requirements under applicable state or federal law, law an amount equal to:
Appears in 1 contract
CHANGE OF CONTROL RELATED PROVISIONS. In each calendar year that Executive is entitled to receive payments or benefits under the provisions of this Employment Agreement, the Holding Company shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company shall pay Executive, subject to applicable withholding requirements under applicable state or federal law, an amount equal to:
Appears in 1 contract
Samples: Control Agreement (Efc Bancorp Inc)
CHANGE OF CONTROL RELATED PROVISIONS. In each calendar year that Executive is entitled to receive payments or benefits under the provisions of this Employment Agreement, the Holding Company Institution shall determine if an excess parachute payment (as defined in Section 4999 of the Internal Revenue Code of 1986, as amended, and any successor provision thereto, (the "Code")) exists. Such determination shall be made after taking any reductions permitted pursuant to Section 280G of the Code and the regulations thereunder. Any amount determined to be an excess parachute payment after taking into account such reductions shall be hereafter referred to as the "Initial Excess Parachute Payment". As soon as practicable after a Change in Control, the Initial Excess Parachute Payment shall be determined. Upon the Date of Termination following a Change in Control, the Holding Company Institution shall pay Executive, subject to applicable withholding requirements under applicable state or federal law, an amount equal to:
Appears in 1 contract