Consideration for Covenants. Officer covenants and agrees that the payment of any Severance Payment (as defined in Section 5(e)) shall be subject to and expressly conditioned upon Officer’s compliance with the covenants set forth in subparagraphs (i) and (ii) above. Should Officer fail to comply with these covenants, the Company shall not be required to make the Severance Payment (or any portion of the Severance Payment that remains unpaid), and the Officer shall be required to repay any portion of the Severance Payment that the Officer has already received from the Company.
Appears in 11 contracts
Samples: Change of Control Agreement (Cryolife Inc), Change of Control Agreement (Cryolife Inc), Change of Control Agreement (Cryolife Inc)
Consideration for Covenants. The Officer covenants and agrees that the payment of any Severance Payment (as defined in Section 5(e6(b)) shall be subject to and expressly conditioned upon the Officer’s compliance with the covenants set forth in subparagraphs (ia), (b) and (iic) above. Should the Officer fail to comply with these covenants, the Company Bank shall not be required to make the Severance Payment (or any portion of the Severance Payment that remains unpaid), and the Officer shall be required to repay any portion of the Severance Payment that the Officer has already received from the CompanyBank.
Appears in 3 contracts
Samples: Separation Agreement (State Bank Financial Corp), Separation Agreement (Georgia-Carolina Bancshares, Inc), Separation Agreement (State Bank Financial Corp)
Consideration for Covenants. The Officer covenants and agrees that the payment of any Severance Payment (as defined in Section 5(e6(b)) shall be subject to and expressly conditioned upon the Officer’s compliance with the covenants set forth in subparagraphs (ia), (b) and (iic) above. Should the Officer fail to comply with these covenants, the Company shall not be required to make the Severance Payment (or any portion of the Severance Payment that remains unpaid), and the Officer shall be required to repay any portion of the Severance Payment that the Officer has already received from the Company.
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Consideration for Covenants. Officer covenants and agrees that the payment of any Severance Payment (as defined in Section 5(e5(b)) shall be subject to and expressly conditioned upon Officer’s compliance with the covenants set forth in subparagraphs (i) and (ii) above. Should Officer fail to comply with these covenants, the Company Bank shall not be required to make the Severance Payment (or any portion of the Severance Payment that remains unpaid), and the Officer shall be required to repay any portion of the Severance Payment that the Officer has already received from the CompanyBank.
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