Cancellation Payment. The Executive will be paid the Payout Amount in equal installments of one-fourth of the Payout Amount over a nine-month period, with the first payment commencing on or as soon as administratively practicable after the Effective Date and with an additional payment every three (3) months thereafter until the entire Payout Amount is paid. The payment due for each three-month period shall be made on or as soon as administratively practicable after the last day of each such three-month period.
Appears in 3 contracts
Sources: Employment Agreement (Buckhead Community Bancorp Inc), Merger Agreement (Buckhead Community Bancorp Inc), Employment Agreement (Buckhead Community Bancorp Inc)