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). For reference, certain, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter. 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 3 contracts
Samples: Compensation Arrangement Amendment (Sun Bancorp Inc /Nj/), Executive Consent to Addendums or Amendments to Compensation Arrangements (Cecil Bancorp Inc), Executive Consent to Addendums or Amendments to Compensation Arrangements (Fidelity Bancorp Inc)
Compensation Program Amendments. Each of the Company’s 's compensation, bonus, incentive and other benefit plans, arrangements and agreements (including including, but not limited to, golden parachute, severance and employment agreements) (collectively, “"Benefit Plans”") with respect to you is hereby amended (notwithstanding any contrary language within such Benefit Plans) to the extent necessary to give effect to provisions (1), (2) and (2). For reference, certain, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter3) above. 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 hereby agree to negotiate execute such changes promptly and in good faithadditional documents as the Company deems necessary to effect such revisions.
Appears in 1 contract
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) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For referenceIxx X. Xxxxx, certainXx. December 12, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter. 2008 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 (Citizens South Banking Corp)
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) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For referenceKxx X. Xxxxx December 12, certain, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter. 2008 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 (Citizens South Banking Corp)
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) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1l) and (2). For referenceXxxxx X. Xxxxxx November 18, certain, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter. 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: Compensation Agreement (First Niagara Financial Group 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) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For referenceXxxx X. Xxxxxx December 12, certain, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter. 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 (Berkshire Hills Bancorp 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) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For referenceGxxx X. Xxxxxxx December 12, certain, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter. 2008 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 (Citizens South Banking Corp)
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) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For referenceXxxx X. Xxxxxxx November 18, certain, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter. 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: Compensation Agreement (First Niagara Financial Group 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). For reference, certain, although not necessary all, certain affected Benefit Plans are set forth in Appendix A, attached A to this letter. UST Seq. No. 512 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 (Royal Bancshares of Pennsylvania 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) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For referenceXxxxxxx X. Xxxxxxxxxx November 18, certain, although not necessary all, affected Benefit Plans are set forth in Appendix A, attached to this letter. 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: Compensation Agreement (First Niagara Financial Group Inc)