LKFN » Topics » Change in Control.

This excerpt taken from the LKFN DEF 14A filed Mar 3, 2008.
Change in Control. Any acceleration of the vesting or payment of awards under the 2008 Equity Incentive Plan in the event of a change in control in Lakeland Financial may cause part or all of the consideration involved to be treated as an “excess parachute payment” under the Code, which may subject the participant to a 20% excise tax and preclude deduction by Lakeland Financial.

 

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