Severance and Indemnification Payments. 8. Effective immediately, the Association shall not make any golden parachute payment3 or any prohibited indemnification payment4 unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 2 contracts
Samples: Supervisory Agreement, Supervisory Agreement (National Consumer Cooperative Bank /Dc/)
Severance and Indemnification Payments. 812. Effective immediately, the Association shall not make any golden parachute payment3 payment4 or any prohibited indemnification payment4 payment5 unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Appears in 2 contracts
Samples: Supervisory Agreement (Flagstar Bancorp Inc), Supervisory Agreement
