Gross-Up Payment Amount. The applicable percentage Gross-Up Payment Amount to which the Executive is entitled is 33% for a Change in Control occurring in 2009, 66% for a Change in Control occurring in 2010, and 100% for a Change in Control occurring in 2011 or thereafter. The Executive shall be entitled to no Gross-Up Payment Amount whatsoever for a Change in Control occurring before 2009. Payment of the Gross-Up Payment Amount shall be made in addition to the amount set forth in section 5.1.
Appears in 4 contracts
Samples: Employment Agreement (1st Financial Services CORP), Employment Agreement (1st Financial Services CORP), Employment Agreement (1st Financial Services CORP)
Gross-Up Payment Amount. The applicable percentage Gross-Up Payment Amount to which the Executive is entitled is 33% for a Change in Control occurring in 2009, 66% for a Change in Control occurring in 2010, and 100% for a Change in Control occurring in 2011 or thereafter. The Executive shall be entitled to no Gross-Up Payment Amount whatsoever for a Change in Control occurring before 2009. Payment of the Gross-Up Payment Amount shall be made in addition to the amount set forth in section 5.15.1(a).
Appears in 3 contracts
Samples: Agreement and Plan of Merger (AB&T Financial CORP), Agreement and Plan of Merger (1st Financial Services CORP), Employment Agreement (1st Financial Services CORP)
Gross-Up Payment Amount. The applicable percentage Gross-Up Payment Amount to which the Executive is entitled is 33% for a Change in Control occurring in 2009, 66% for a Change in Control occurring in 2010, and 100% for a Change in Control occurring in 2011 or thereafter. The Executive shall be entitled to no Gross-Up Payment Amount whatsoever for a Change in Control occurring before 2009. Payment of the Gross-Up Payment Amount shall be made in addition to the amount set forth in section 5.1.in
Appears in 1 contract
