Common Contracts
2 similar Salary Continuation Agreement contracts by Tidelands Bancshares Inc
Tidelands Bank Salary Continuation AgreementSalary Continuation Agreement • May 7th, 2008 • Tidelands Bancshares Inc • National commercial banks • South Carolina
This Salary Continuation Agreement (this “Agreement”) is entered into as of this 1st day of May, 2008, by and between Tidelands Bank, a South Carolina-chartered bank (the “Bank”), and Alan W. Jackson, its Chief Financial Officer (the “Executive”). Whereas, the Executive has contributed substantially to the Bank’s success and the Bank desires that the Executive continue in its employ, Whereas, to encourage the Executive to remain an employee, the Bank is willing to provide to the Executive salary continuation benefits payable from the Bank’s general assets, Whereas, none of the conditions or events included in the definition of the term “golden parachute payment” that is set forth in section 18(k)(4)(A)(ii) of the Federal Deposit Insurance Act [12 U.S.C. 1828(k)(4)(A)(ii)] and in Federal Deposit Insurance Corporation Rule 359.1(f)(1)(ii) [12 CFR 359.1(f)(1)(ii)] exists or, to the best knowledge of the Bank, is contemplated insofar as the Bank is concerned, and Whereas, the p
Tidelands Bank Salary Continuation AgreementSalary Continuation Agreement • May 7th, 2008 • Tidelands Bancshares Inc • National commercial banks • South Carolina
This Salary Continuation Agreement (this “Agreement”) is entered into as of this 1st day of May, 2008, by and between Tidelands Bank, a South Carolina-chartered bank (the “Bank”), and Robert H. Mathewes Jr., its Executive Vice President and Senior Commercial Banker (the “Executive”). Whereas, the Executive has contributed substantially to the Bank’s success and the Bank desires that the Executive continue in its employ, Whereas, to encourage the Executive to remain an employee, the Bank is willing to provide to the Executive salary continuation benefits payable from the Bank’s general assets, Whereas, none of the conditions or events included in the definition of the term “golden parachute payment” that is set forth in section 18(k)(4)(A)(ii) of the Federal Deposit Insurance Act [12 U.S.C. 1828(k)(4)(A)(ii)] and in Federal Deposit Insurance Corporation Rule 359.1(f)(1)(ii) [12 CFR 359.1(f)(1)(ii)] exists or, to the best knowledge of the Bank, is contemplated insofar as the Ban
