Arrow Board definition

Arrow Board means the Board of Directors of Arrow.

Arrow Board means the Board of Directors of Arrow. (f) “Bank” shall mean Glens Falls National Bank and Trust Company. (g) “Bank Board” shall mean the Board of Directors of the Bank. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow; (iii) A majority of the members of the Arrow Board are replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the members of the Arrow Board before the date of the appointment or election; or

Arrow Board means the Board of Directors of Arrow. (f) “Banks” shall mean Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. (g) “Bank Boards” shall mean the Board of Directors of the Banks. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow;

Examples of Arrow Board in a sentence

• The Executive's Base Salary may be increased from time to time in accordance with the normal business practices of Arrow and the Bank, as determined by the Arrow Board and the Bank Board, and, if so increased, such Base Salary shall not thereafter during the Term be decreased and the obligation of the Bank or Arrow hereunder to pay the Executive's Base Salary shall thereafter relate to such increased Base Salary.

• Once such a determination has been made, the Chair of the Arrow Board and/or the Bank Board shall give notice to the Executive in writing setting forth the "for Cause" reasons Arrow and/or a Bank effected such Termination of Employment of Executive for Cause.

• Such Termination of Employment of Executive for Disability shall require the affirmative vote of a majority of the entire Arrow Board and/or the Bank Board ( excluding the Executive if they are a Board Member).

• Any Termination of Employment of Executive for Cause by Arrow and/or either of the Bank shall require the affirmative vote of at least two-thirds (2/3) of the entire Arrow Board or either of the Bank Board (excluding Executive ifhe is a Board Member).

• Once such a determination has been made, the Chair of the Arrow Board shall give notice to the Executive in writing setting forth the "for Cause" reasons Arrow and/or a Bank effected such Termination of Employment of Executive for Cause.

• Any Termination of Employment of Executive for Cause by Arrow and/or either of the Bank shall require the affinnative vote of at least two-thirds (2/3) of the entire Arrow Board or the Bank Board ( excluding Executive if they are a Board Member).

• Any notice required or desired to be given hereunder shall be in writing and shall be deemed given when delivered personally or sent by certified or registered mail, postage prepaid, to the addresses of the other parties set forth in the first Paragraph of this Agreement, provided that all notices to Arrow or the Bank shall be directed in each case to the Chairman of the Arrow Board.

• The Executive shall serve as the President and Chief Executive Officer of the Company and shall have such duties, responsibilities, and authority as normally attend such positions or as may reasonably be assigned to the Executive from time to time by the Arrow Board or the Bank Board, as appropriate.

• Such Termination of Employment of Executive for Disability shall require the affirmative vote of a majority of the entire Arrow Board and/or the Bank Board (excluding the Executive ifhe is a Board Member).

• The Executive shall serve as the Senior Executive Vice President, Treasurer and Chief Financial Officer of Arrow; and Senior Executive Vice President, Chief Financial Officer, Treasurer and Chief Accounting Officer of the Bank and shall have such duties, responsibilities, and authority as normally attend such positions or as may reasonably be assigned to the Executive from time to time by the Arrow Board or the Bank Board or the Chief Executive Officer of Arrow or the Bank.

More Definitions of Arrow Board

Arrow Board means the Board of Directors of Arrow. (f) "Bank" shall mean, collectively, Arrow Bank National Association. 14

Arrow Board means the Board of Directors of Arrow. ( f) "Bank" shall mean, Arrow Bank National Association. (g) "Bank Board" shall mean the Board of Directors of the Bank. (h) "Base Salary" shall have the meaning set forth in Paragraph 5(a) hereof. (i) "Change of Control" means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve­ month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow; (iii) A majority of the members of the Arrow Board are replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the members of the Arrow Board before the date of the appointment or election; or (iv) One person, or more than one person acting as a group, acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group) assets from Arrow that have a total gross fair market value ( detennined without regard to any liabilities associated with such assets) equal to or more than 40% of the total gross fair market value of all of the assets of Arrow immediately before such acquisition or acquisitions. Persons will not be considered to be acting as a group solely because they purchase or own stock of the same corporation at the same time, or as a result of the same public offering. However, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with Arrow. This definition of Change of Control shall be interpreted in accordance with, and in a manner that will bring the definition into compliance with, the regulations under Section 409A of the Code. (j) "Change of Control Termination Total Payments" shall have the meaning set forth in Paragraph 6(g)(i) hereof. (k) "Code" shall mean the Internal Revenue Code of 1986, as amended. 15

Arrow Board means the Board of Directors of Arrow. (f) “Bank” shall mean collectively Saratoga and GFNB. (g) “Bank Board” shall mean collectively the Board of Directors of each of GFNB and Saratoga. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof.

Arrow Board means the Board of Directors of Arrow. (f) “Banks” shall mean Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. (g) “Bank Boards” shall mean the Board of Directors of the Banks. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow; (iii) A majority of the members of the Arrow Board are replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the members of the Arrow Board before the date of the appointment or election; or

Arrow Board means the Board of Directors of Arrow. (f) “Banks” shall mean Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. (g) “Bank Boards” shall mean the Board of Directors of the Banks. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow; (ii) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock of Arrow acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group, constitutes 30% or more of the total voting power of the stock of Arrow; (iii) A majority of the members of the Arrow Board are replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the members of the Arrow Board before the date of the appointment or election; or (iv) One person, or more than one person acting as a group, acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group) assets from Arrow that have a total gross fair market value (determined without regard to any liabilities associated with such assets) equal to or more than 40% of the total gross fair market value of all of the assets of Arrow immediately before such acquisition or acquisitions. Persons will not be considered to be acting as a group solely because they purchase or own stock of the same corporation at the same time, or as a result of the same public offering. However, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with Arrow.

Arrow Board means the Board of Directors of Arrow. (f) “Bank” shall mean Glens Falls National Bank and Trust Company. (g) “Bank Boards” shall mean the Board of Directors of the Banks. (h) “Base Salary” shall have the meaning set forth in Paragraph 5(a) hereof. (i) “Change of Control” means: (i) The acquisition by one person, or more than one person acting as a group, of ownership of stock of Arrow that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Arrow;