Rescissions. Any modification to the terms of this Agreement that would inadvertently result in an additional tax liability on the part of the Executive, shall have no effect to the extent the change in the terms of the plan is rescinded by the earlier of a date before the right is exercised (if the change grants a discretionary right) and the last day of the calendar year during which such change occurred.
Appears in 36 contracts
Samples: Continuation Agreement (National Bankshares Inc), Continuation Agreement (National Bankshares Inc), Continuation Agreement (Luther Burbank Corp)
Rescissions. Any modification to the terms of this Agreement that would ----------- inadvertently result in an additional tax liability on the part of the Executive, shall have no effect to the extent the change in the terms of the plan is rescinded by the earlier of a date before the right is exercised (if the change grants a discretionary right) and the last day of the calendar year during which such change occurred.
Appears in 2 contracts
Samples: Pacific Premier (Pacific Premier Bancorp Inc), Pacific Premier (Pacific Premier Bancorp Inc)
Rescissions. Any modification to the terms of this Agreement that would inadvertently result in (i) treatment as a material modification under Section 409A of the Code; or (ii) an additional tax liability on the part of the Executive, shall have no effect to the extent the change in the terms of the plan is rescinded by the earlier of a date before the right is exercised (if the change grants a discretionary right) and the last day of the calendar year during which such change occurred.
Appears in 2 contracts
Samples: Continuation Agreement (Central Valley Community Bancorp), Director Retirement Agreement (Central Valley Community Bancorp)
Rescissions. Any modification to the terms of this Agreement that would inadvertently result in an additional tax liability on the part of the Executive, shall have no effect to the extent the change in the terms of the plan is rescinded by the earlier of a date before the right is exercised (if the change grants a discretionary right) and the last day of the calendar year during which such change occurred.. PEOPLES FEDERAL SAVINGS BANK Amended and Restated Salary Continuation Agreement
Appears in 1 contract
Samples: Continuation Agreement (Peoples Federal Bancshares, Inc.)
Rescissions. Any modification to the terms of this Agreement that would inadvertently result in an additional tax liability on the part of the Executive, shall have no effect to the extent the change in the terms of the plan is rescinded by the earlier of a date before the right is exercised (if the change grants a discretionary right) and the last day of the calendar year during which such change occurred.. XXXXXX XXXXXXXXXXXX Supplemental Executive Retirement Agreement
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Rescissions. Any modification to the terms of this Agreement that would inadvertently result in an additional tax liability on the part of the Executive, shall have no effect to the extent the change in the terms of the plan is rescinded by the earlier of a date before the right is exercised (if the change grants a discretionary right) and the last day of the calendar year during which such change occurred.. THE STATE BANK Supplemental Executive Retirement Agreement
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Rescissions. Any modification to the terms of this Agreement that would inadvertently result in an additional tax liability on the part of the Executive, shall have no effect to the extent the change in the terms of the plan is rescinded by the earlier of a date before the right is exercised (if the change grants a discretionary right) and the last day of the calendar year during which such change occurred.. WEST MICHIGAN COMMUNITY BANK Supplemental Executive Retirement Agreement
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