Golden Parachute Payments. Awards that are granted, accelerated or enhanced upon the occurrence of, or in anticipation of, a change in control of First Financial may give rise, in whole or in part, to “excess parachute payments” under Section 280G and Code Section 4999. With respect to any excess parachute payment, the participant would be subject to a 20% excise tax on, and First Financial would be denied a deduction for, the “excess” amount.
Appears in 8 contracts
Samples: Agreement for Performance Stock Award (First Financial Bancorp /Oh/), Agreement for Restricted Stock Award (First Financial Bancorp /Oh/), Agreement for Restricted Stock Award (First Financial Bancorp /Oh/)