Benefit Plan Review. In addition, the Company is required to review its Benefit Plans to ensure that they do not (a) encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company, (b) encourage manipulation of the Company’s reported earnings to enhance compensation of any employees or (c) commit the Company to make excessive or luxury expenditures as identified under EESA. To the extent any such review requires revisions to any Benefit Plan with respect to you, you agree that the Company may implement unilaterally such changes to the Benefits Plans that the Company determines are necessary consistent with its review of the Benefit Plans.
Appears in 3 contracts
Samples: Securities Purchase Agreement (First National Corp /Va/), Securities Purchase Agreement (First Capital Bancorp, Inc.), Securities Purchase Agreement (Village Bank & Trust Financial Corp.)
Benefit Plan Review. In addition, the Company is required to review its Benefit Plans to ensure that they do not (a) encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company, (b) encourage manipulation of the Company’s reported earnings to enhance compensation of any employees or (c) commit the Company to make excessive or luxury expenditures as identified under EESA. To the extent any such review requires revisions to any Benefit Plan with respect to you, you agree that the Company may implement unilaterally such changes to the Benefits Plans that the Company determines are necessary consistent with its review of the Benefit Plans.
Appears in 3 contracts
Samples: Eastern Virginia Bankshares Inc, Central Virginia Bankshares Inc, Middleburg Financial Corp
Benefit Plan Review. In addition, the Company is required to review its Benefit Plans to ensure that they do not (a) encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company, (b) encourage manipulation of the Company’s reported earnings to enhance compensation of any employees or (c) commit the Company to make excessive or luxury expenditures as identified under EESA. To the extent any such review requires revisions to any Benefit Plan with respect to you, you agree that the Company may implement unilaterally such changes to the Benefits Plans that the Company determines are necessary consistent with its review of the Benefit Plans.
Appears in 1 contract
Samples: Valley Financial Corp /Va/
Benefit Plan Review. In addition, the Company is required to review its Benefit Plans to ensure that they do not (a) encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company, (b) encourage manipulation of the Company’s reported earnings to enhance compensation of any employees or (c) commit the Company to make excessive or luxury expenditures as identified under EESA. To the extent any such review requires revisions to any Benefit Plan with respect to you, you agree that the Company may implement unilaterally such changes to the Benefits Benefit Plans that the Company determines are necessary consistent with its review of the Benefit Plans.
Appears in 1 contract
Samples: Consent Letter Agreement (Monarch Financial Holdings, Inc.)
