Sandy Spring Bank tweaks corporate governance ahead of 2013 say on pay

Olney-based Sandy Spring Bancorp Inc., which has received some shareholder push-back on executive pay, has tweaked its parachute payment policies in ways that the Washington Business Journal reports might just put the company more in line with corporate governance best practices.

Sandy Spring amended its employment agreement with CEO Dan Schrider to remove tax "gross-up" payments, a controversial practice that is triggered when severance for a departing executive gets categorized as an "excess parachute…