Common use of Permitted Acceleration Clause in Contracts

Permitted Acceleration. The Bank shall have the sole authority to make any accelerated distribution permissible under Treas. Reg. Section 1.409A-3(j)(4) to Executive of deferred amounts, provided that such distribution meets the requirements of Treas. Reg. Section 1.409A-3(j)(4).

Appears in 5 contracts

Sources: Executive Employment Agreement (Stellar Bancorp, Inc.), Executive Employment Agreement (CBTX, Inc.), Executive Employment Agreement (Allegiance Bancshares, Inc.)

Permitted Acceleration. The Bank shall have the sole authority to make any accelerated distribution permissible under Treas. Reg. Section 1.409A-3(j)(4) to the Executive of deferred amounts, provided that such distribution meets the requirements of Treas. Reg. Section 1.409A-3(j)(4).

Appears in 4 contracts

Sources: Employment Agreement (CoastalSouth Bancshares, Inc.), Employment Agreement (CoastalSouth Bancshares, Inc.), Employment Agreement (CoastalSouth Bancshares, Inc.)

Permitted Acceleration. The Bank shall have the sole authority to make any accelerated distribution permissible under Treas. Reg. Section 1.409A-3(j)(4) to Executive of deferred amounts, provided that such distribution meets the requirements of Treas. Reg. Section 1.409A-3(j)(4).”

Appears in 1 contract

Sources: Employment Agreement (First Bancshares Inc /MS/)