Golden Parachute Provisions. (a) Anything in this Agreement to the contrary notwithstanding, if any payment or benefit to the Executive under this Agreement or otherwise would be a “golden parachute payment” or “indemnification payment” within the meaning of Section 18(k) of the Federal Deposit Insurance Act, such payment or benefit shall not be made unless permitted under
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Samples: Employment Agreement (Amalgamated Financial Corp.), Employment Agreement (Amalgamated Financial Corp.), Employment Agreement (Amalgamated Financial Corp.)
Golden Parachute Provisions. (a) Anything in this Agreement to the contrary notwithstanding, if the Company shall not be obligated to make any payment or benefit to the Executive under this Agreement or otherwise hereunder that would be prohibited as a “golden parachute payment” or “indemnification payment” within the meaning of under Section 18(k) of the Federal Deposit Insurance Act, such payment or benefit shall not be made unless permitted under.
Appears in 2 contracts
Samples: Employment Agreement (Amalgamated Financial Corp.), Employment Agreement (Amalgamated Financial Corp.)
Golden Parachute Provisions. (a) Anything in this Agreement to the contrary notwithstanding, if any payment or benefit to the Executive under this Agreement or otherwise would be a “golden parachute payment” or “indemnification payment” within the meaning of Section 18(k) of the Federal Deposit Insurance Act, such payment or benefit shall not be made unless permitted underunder applicable law. The Company shall use best efforts promptly to apply to the appropriate federal banking agency for a determination that any golden parachute payment is permissible.
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