Examples of CPP Requirements in a sentence
The Committee shall have the right unilaterally to amend this Agreement to effect or document any changes or additions which in its view are necessary or appropriate to comply with the CPP Requirements and Section 111 of the EESA, as amended from time to time.
Further, the Bank and the Executive agree that the Bank shall have the right unilaterally to amend this Agreement to effect or document any changes or additions which in its view are necessary or appropriate to comply with the CPP Requirements.
Notwithstanding any other provision of this Agreement, the Bank and the Executive agree that this Agreement shall be administered, interpreted and construed and, if and where applicable, benefits provided hereunder shall be limited, deferred, forfeited, subject to repayment to the Bank and/or prohibited in accordance with the CPP Requirements, to the extent legally applicable to the Executive, including without limitation the clawback, the bonus prohibition and the golden parachute prohibitions thereof.
The management does not expect the adoption of this ASU to have a material effect on the consolidated financial statements.
To the extent permitted, this Award and the Restricted Shares granted hereunder shall be deemed amended (i) to the extent necessary to conform to the CPP Requirements and (ii) for the period of time during which such requirements apply to the Company and certain of its employees.
Notwithstanding any other provision of the Plan to the contrary, the Plan shall be administered, interpreted and construed and, if and where applicable, benefits provided hereunder shall be limited, deferred, prohibited and/or subject to repayment to the Company in accordance with the CPP Requirements and Section 111(b) of the EESA, as amended from time to time, to the extent legally applicable.
The Participant further acknowledges that, as the most highly-compensated employee and a senior executive officer of the Company, (1) his compensation is subject to the CPP Requirements, and (2) the Company may unilaterally amend this Award to the extent and for the duration of time necessary to comply with the CPP Requirements.
In the event of any contradiction between the Plan, this Award, or the CPP Requirements, the terms of the CPP Requirements shall govern.
The Company has participated in the CPP; and the Company is required to comply with the requirements of Section 111(b) of the EESA, as amended from time to time, and the CPP with respect to the compensation of certain current and future employees of the Company (as determined for purposes of the EESA and the guidance and regulations issued by the Treasury Department with respect to the CPP (the “CPP Requirements”)), in accordance with the CPP Requirements.
The Company hereby declares and agrees that every Compensation Plan is amended, notwithstanding any provision or term of any such Compensation Plan to the contrary, so that during the Term of this Agreement no SEO will be entitled to receive any parachute payment in excess of the amount that would be permitted by the CPP Requirements and Section 280G(e) of the Internal Revenue Code of 1986, as amended (“Section 280G(e)”), determined as if Section 280G(e) applies to the Company.