Common use of Employment Matters; Employee Relations Clause in Contracts

Employment Matters; Employee Relations. SFC has Previously Disclosed to FCB a listing of the names, years of credited service and current base salary or wage rates of all employees of the respective SFC Companies’ as of the last day of the calendar month immediately preceding the date of this Agreement. Each of the SFC Companies (a) has in all material respects paid in full to or, to the extent required by GAAP, accrued on behalf of all its respective directors, officers and employees all wages, salaries, commissions, bonuses, fees and other direct compensation for all labor or services performed by them, and all vacation pay, sick pay, severance pay, overtime pay and other amounts for which it is obligated under applicable law or its existing agreements, benefit plans, policies or practices, and (b) is in compliance with all applicable federal, state and local laws, statutes, rules and regulations with regard to employment and employment practices, terms and conditions, wages and hours and other compensation matters. To the Best Knowledge of SFC, no person has asserted that any of the SFC Companies are liable in any amount for any arrearage in wages or employment taxes or for any penalties for failure to comply with any of the foregoing. There is no action, suit or proceeding by any person pending or, to the Best Knowledge of SFC, threatened, against any of the SFC Companies (or any of their employees), alleging employment discrimination, sexual harassment, wrongful discharge or similar claims involving any of the SFC Companies. None of the SFC Companies are parties to or bound by any collective bargaining agreement with any of their employees, any labor union or any other collective bargaining unit or organization. There is no pending or, to the Best Knowledge of SFC, threatened labor dispute, work stoppage or strike involving any of the SFC Companies and any of their respective employees, or any pending or threatened proceeding in which it is asserted that any of the SFC Companies have committed an unfair labor practice; and to the Best Knowledge of SFC, there is no activity involving the employees of any of the SFC Companies seeking to certify a collective bargaining unit or engaging in any other labor organization activity.

Employment Matters; Employee Relations. SFC has Previously Disclosed to FCB a listing of the names, years of credited service and current base salary or wage rates of all employees of the respective SFC Companies’ as of the last day of the calendar month immediately preceding the date of this Agreement. Each of the SFC Companies Companies (a) has in all material respects paid in full to or, to the extent required by GAAP, accrued on behalf of all its respective directors, officers and employees all wages, salaries, commissions, bonuses, fees and other direct compensation for all labor or services performed by them, and all vacation pay, sick pay, severance pay, overtime pay and other amounts for which it is obligated under applicable law or its existing agreements, benefit plans, policies or practices, and (b) is in compliance with all applicable federal, state and local laws, statutes, rules and regulations with regard to employment and employment practices, terms and conditions, wages and hours and other compensation matters. To the Best Knowledge of SFC, no person has asserted that any of the SFC Companies are liable in any amount for any arrearage in wages or employment taxes or for any penalties for failure to comply with any of the foregoing. There is no action, suit or proceeding by any person pending or, to the Best Knowledge of SFC, threatened, against any of the SFC Companies (or any of their employees), alleging employment discrimination, sexual harassment, wrongful discharge or similar claims involving any of the SFC Companies. None of the SFC Companies are parties to or bound by any collective bargaining agreement with any of their employees, any labor union or any other collective bargaining unit or organization. There is no pending or, to the Best Knowledge of SFC, threatened labor dispute, work 16 stoppage or strike involving any of the SFC Companies and any of their respective employees, or any pending or threatened proceeding in which it is asserted that any of the SFC Companies have committed an unfair labor practice; and to the Best Knowledge of SFC, there is no activity involving the employees of any of the SFC Companies seeking to certify a collective bargaining unit or engaging in any other labor organization activity.

Employment Matters; Employee Relations. SFC First Savings has -------------------------------------- Previously Disclosed to FCB BancShares a listing of the names, years of credited service and current base salary or wage rates of all employees of the respective SFC Companies’ First Savings or FSB as of the last day of the calendar month immediately preceding the date of this AgreementFebruary 28, 1997. Each of the SFC Companies First Savings and FSB each (aI) has in all material respects paid in full to or, to the extent required by GAAP, or accrued on behalf of all its respective directors, officers and employees all wages, salaries, commissions, bonuses, fees and other direct compensation for all labor or services performed by themrendered, and all vacation pay, sick pay, severance pay, overtime pay and other amounts for which it is obligated under applicable law or its First Savings' or FSB's existing agreements, benefit plans, policies or practices, and (bII) is in compliance with all applicable federal, state and local laws, statutes, rules and regulations with regard to employment and employment practices, terms and conditions, and wages and hours and other compensation matters. To ; and, no person has, to the Best Knowledge of SFCmanagement of First Savings or FSB, no person has asserted that any of the SFC Companies are First Savings or FSB is liable in any amount for any arrearage arrearages in wages or employment taxes or for any penalties for failure to comply with any of the foregoing. There is no action, suit or proceeding by any person pending or, to the Best Knowledge of SFCmanagement of First Savings or FSB, threatened, against any of the SFC Companies First Savings or FSB (or any of their respective employees), alleging involving employment discrimination, sexual harassment, wrongful discharge or similar claims involving any of the SFC Companiesclaims. None of the SFC Companies are parties Neither First Savings nor FSB is a party to or bound by any collective bargaining agreement with any of their its employees, any labor union or any other collective bargaining unit or organization. There is no pending or, to the Best Knowledge of SFC, or threatened labor dispute, work stoppage or strike involving any of the SFC Companies First Savings or FSB and any of their respective its employees, or any pending or threatened proceeding in which it is asserted that any of the SFC Companies have First Savings or FSB has committed an unfair labor practice; and and, to the Best Knowledge of SFCmanagement of First Savings and FSB, there is no activity involving the employees of it or any of the SFC Companies its employees seeking to certify a collective bargaining unit or engaging in any other labor organization activity.

Employment Matters; Employee Relations. SFC has Main Street and Piedmont have Previously Disclosed to FCB Yadkin a listing of the names, years of credited service and current base salary or wage rates of all of their employees of the respective SFC Companies’ as of the last day of the calendar month immediately preceding the date of this AgreementDecember 31, 2001. Each of the SFC Companies Main Street and Piedmont (ai) has each have in all material respects paid in full to or, to the extent required by GAAP, or accrued on behalf of all its their respective directors, officers and employees all wages, salaries, commissions, bonuses, fees and other direct compensation for all labor or services performed by themthem to the date of this Agreement, and all vacation pay, sick pay, severance pay, overtime pay and other amounts for which it is obligated under applicable law or its Main Street's or Piedmont's existing agreements, benefit plans, policies or practices, ; and (bii) is are each in compliance with all applicable federal, state and local laws, statutes, rules and regulations with regard to employment and employment practices, terms and conditions, and wages and hours and other compensation matters. To ; and, no person has, to the Best Knowledge of SFCmanagement of Main Street and Piedmont, no person has asserted that any of the SFC Companies are Main Street or Piedmont is liable in any amount for any arrearage in wages or employment taxes or for any penalties for failure to comply with any of the foregoing. There is no action, suit or proceeding by any person pending or, to the Best Knowledge of SFCmanagement of Main Street or Piedmont, threatened, against any of the SFC Companies Main Street or Piedmont (or any employees of their employeesMain Street or Piedmont), alleging involving employment discrimination, sexual harassment, wrongful discharge or similar claims involving any of the SFC Companiesclaims. None of the SFC Companies are parties Xxxxxxx Xxxx Xxxxxx nor Piedmont is party to or bound by any collective bargaining agreement with any of their its employees, any labor union or any other collective bargaining unit or organization. There is no pending or, to the Best Knowledge of SFC, or threatened labor dispute, work stoppage or strike involving any of the SFC Companies Main Street or Piedmont and any of their respective employees, or any pending or threatened proceeding in which it is asserted that any of the SFC Companies have Main Street or Piedmont has committed an unfair labor practice; and and, to the Best Knowledge of SFCmanagement of Main Street and Piedmont, there is no activity involving the employees of Main Street, Piedmont, or any of the SFC Companies their employees seeking to certify a collective bargaining unit or engaging in any other labor organization activity.

Employment Matters; Employee Relations. SFC PCCC has Previously Disclosed to FCB a listing of the names, years of credited service and current base salary or wage rates of all of PCCC’s, PCB’s and PFS’s employees of the respective SFC Companies’ as of the last day of the calendar month immediately preceding the date of this AgreementSeptember 30, 2004. Each of the SFC Companies PCCC, PCB and PFS each (ai) has in all material respects paid in full to or, to the extent required by GAAP, or accrued on behalf of all its respective directors, officers and employees all wages, salaries, commissions, bonuses, fees and other direct compensation for all labor or services performed by them, and all vacation pay, sick pay, severance pay, overtime pay and other amounts for which it is obligated under applicable law or its existing agreements, benefit plans, policies or practices, (provided, however, that no accrual has been made for bonuses that may be granted pursuant to PCB’s Management Incentive Plan for 2004, and notwithstanding anything to the contrary contained in this Agreement, FCB acknowledges that the administration of bonuses pursuant to the PCB Management Incentive Plan for 2004 will be based on PCB’s financial performance exclusive of any fees or expenses incurred in connection with this Agreement, or any compensation paid in connection with employment, consulting or other similar agreements entered into in connection with this Agreement), and (bii) is in compliance with all applicable federal, state and local laws, statutes, rules and regulations with regard to employment and employment practices, terms and conditions, wages and hours and other compensation matters. To the Best Knowledge of SFCPCCC, no person has asserted that any of the SFC Companies are either PCCC, PCB or PFS is liable in any amount for any arrearage in wages or employment taxes or for any penalties for failure to comply with any of the foregoing. There is no action, suit or proceeding by any person pending or, to the Best Knowledge of SFCPCCC, threatened, against any of the SFC Companies PCCC, PCB or PFS (or any of their its employees), alleging involving employment discrimination, sexual harassment, wrongful discharge or similar claims involving any of the SFC Companiesclaims. None of the SFC Companies are parties Neither PCCC, PCB nor PFS is a party to or bound by any collective bargaining agreement with any of their its employees, any labor union or any other collective bargaining unit or organization. There is no pending or, to the Best Knowledge of SFC, or threatened labor dispute, work stoppage or strike involving any of the SFC Companies PCCC, PCB or PFS and any of their respective employees, or any pending or threatened proceeding in which it is asserted that any of the SFC Companies have PCCC, PCB or PFS has committed an unfair labor practice; and to the Best Knowledge of SFCPCCC, there is no activity involving the employees of it or any of the SFC Companies its employees seeking to certify a collective bargaining unit or engaging in any other labor organization activity.