Payment by the Bank. In the event that any payment required under this Agreement would be considered a "golden parachute payment" under 12 C.F.R. ss.359.1, the Bank shall not be obligated to make such payment at such time but shall defer making such payment until such time as the making of the payment would not be considered to be a "golden parachute payment."
Appears in 3 contracts
Samples: Employment Agreement (Beach First National Bancshares Inc), Arbitration Notice (Beach First National Bancshares Inc), Employment Agreement (Beach First National Bancshares Inc)
Payment by the Bank. In the event that any payment required under this Agreement would be considered a "“golden parachute payment" ” under 12 C.F.R. ss.359.1§359.1, the Bank shall not be obligated to make such payment at such time but shall defer making such payment until such time as the making of the payment would not be considered to be a "“golden parachute payment."”
Appears in 1 contract
Samples: Employment Agreement (Beach First National Bancshares Inc)
Payment by the Bank. In the event that any payment required under this Agreement would be considered a "“golden parachute payment" ” under 12 C.F.R. ss.359.1§359.1, the Bank shall not be obligated to make such payment at such time but shall may defer making such payment until such time as the making of the payment would not be considered to be a "“golden parachute payment."”
Appears in 1 contract
Samples: Employment Contract (Beach First National Bancshares Inc)
