Benefit Plan Review. In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company. 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: Consent Letter (Eastern Virginia Bankshares Inc), Consent Letter (Middleburg Financial Corp), Consent Letter (Central Virginia Bankshares Inc)
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: Consent Letter (First National Corp /Va/), Consent Letter (First Capital Bancorp, Inc.), Consent Letter (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 encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company. 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
Benefit Plan Review. In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company. 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.)
