No Golden Parachute Payments. The Company is prohibited from making, and the Executive shall not be entitled to receive, a Golden Parachute Payment during the TARP Covered Period if the Executive is a Senior Executive Officer or Other Highly Compensated Employee at the date the Golden Parachute Payment would otherwise be paid. For purposes of this Agreement, the date the Golden Parachute Payment would otherwise be paid is the date of the Executive’s departure or the change in control event that gives rise to the payment, even if any portion of the payment would be paid after the TARP Covered Period.
Appears in 2 contracts
Samples: Employment Agreement (First Security Group Inc/Tn), Tarp Restricted Employee Agreement (First Security Group Inc/Tn)
No Golden Parachute Payments. The Company is prohibited from making, and the Executive shall not be entitled to receive, a Golden Parachute Payment during the TARP Covered Period if the Executive is a Senior Executive Officer or Other Highly Compensated Employee at the date the Golden Parachute Payment would otherwise be paid. For purposes of this Agreement, the date the Golden Parachute Payment would otherwise be paid is the date of the Executive’s departure or the change in control event that gives rise to the payment, even if any portion of the payment would be paid after the TARP Covered PeriodPeriod or after the Executive ceases to be a Senior Executive Officer or Other Highly Compensated Employee.
Appears in 1 contract
Samples: Tarp Restricted Employee Agreement (Southwest Bancorp Inc)
No Golden Parachute Payments. The Company is prohibited from making, and the Executive shall not be entitled to receive, a Golden Parachute Payment during the TARP Covered Period if the Executive is a Senior Executive Officer or Other Highly Compensated Employee at the date the Golden Parachute Payment would otherwise be paid. For purposes of this Agreement, the date the Golden Parachute Payment would otherwise be paid is the date of the Executive’s 's departure or the change in control event that gives rise to the payment, even if any portion of the payment would be paid after the TARP Covered Period.
Appears in 1 contract
Samples: Tarp Restricted Employee Agreement (First Banks, Inc)