Common use of Compensation Program Amendments Clause in Contracts

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). This provision also applies to any Benefit Plans with respect to you that are entered into after the date of this letter agreement and during the CCP Covered Period. 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 and the Company agree to negotiate such changes promptly and in good faith.

Appears in 2 contracts

Samples: Securities Purchase Agreement (StellarOne CORP), Compensation Agreement (Union Bankshares Corp)

AutoNDA by SimpleDocs

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). This provision also applies to any For reference, certain affected Benefit Plans with respect are set forth in Appendix A to you that are entered into after the date of this letter agreement and during the CCP Covered Period. letter. X. Xxxxx Xxxxxx December 12, 2008 Page 2 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 and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (Pinnacle Financial Partners Inc)

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give give Xxxxx X. Xxxxxxxx February 27, 2009 Page 2 effect to provisions (1) and (2). This provision also applies to any For reference, certain affected Benefit Plans with respect are set forth in Appendix A to you that are entered into after the date of this letter agreement and during the CCP Covered Periodletter. In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage exclude incentives for senior executive officers to take unnecessary and excessive risks that threaten the value of the CompanyCompany during the CPP Covered Period. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (Community First Inc)

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). This provision also applies to any For reference, certain affected Benefit Plans with respect are set forth in Appendix A to you that are entered into after the date of this letter agreement and during the CCP Covered Periodletter. Xxxx X. Xxxxxxx December 12, 2008 Page 2 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 and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (Pinnacle Financial Partners Inc)

AutoNDA by SimpleDocs

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). This provision also applies to any For reference, certain affected Benefit Plans with respect are set forth in Appendix A to you that are entered into after the date of this letter agreement and during the CCP Covered Period. letter. X. XxXxxxx December 12, 2008 Page 2 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 and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (Pinnacle Financial Partners Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!