Golden Parachute and Indemnification Payments. Effective immediately, the Association shall not make any golden parachute payment6 or prohibited indemnification payment7 unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 2 contracts
Samples: Supervisory Agreement (Brooklyn Federal Bancorp, Inc.), Supervisory Agreement
Golden Parachute and Indemnification Payments. Effective immediately, the Association shall not make any golden parachute payment6 payment4 or prohibited indemnification payment7 payment5 unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 1 contract
Samples: Supervisory Agreement
Golden Parachute and Indemnification Payments. Effective immediately, the Association shall not make any golden parachute payment6 payment5 or prohibited indemnification payment7 payment6 unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 1 contract
Samples: Supervisory Agreement (Atlantic Coast Federal Corp)
Golden Parachute and Indemnification Payments. Effective immediately, the Association shall not make any golden parachute payment6 payment4 or prohibited indemnification payment7 payment5 unless, with respect to each such payment, the Association 4 The term “golden parachute payment” is defined at 12 C.F.R. § 359.1(f). 5 The term “prohibited indemnification payment” is defined at 12 C.F.R. § 359.1(l). has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 1 contract
Samples: Supervisory Agreement
Golden Parachute and Indemnification Payments. Effective immediately, the Association shall not make any golden parachute payment6 payment7 or prohibited indemnification payment7 payment8 unless, with respect to each such payment, the Association 7 The term “golden parachute payment” is defined at 12 C.F.R. § 359.1(f). has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 1 contract
Samples: Supervisory Agreement
Golden Parachute and Indemnification Payments. Effective immediately, the Association Holding Company shall not make any golden parachute payment6 payment(4) or prohibited indemnification payment7 payment(5) unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 1 contract
Golden Parachute and Indemnification Payments. Effective immediately, the Association shall not make any golden parachute payment6 payment7 or prohibited indemnification payment7 payment8 unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 1 contract
Golden Parachute and Indemnification Payments. Effective immediately, the Association shall not make any golden parachute payment6 payment(15) or prohibited indemnification payment7 payment(16) unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 1 contract
