Integration and Amendments. This Agreement constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes any prior agreement or understanding, whether written or oral, relating to such subject matter. No modification or amendment to this Agreement shall be effective or binding unless in writing, specifying such modification or amendment, executed by all of the parties hereto. Notwithstanding the foregoing, in the event that the provisions of this Agreement should be amended, modified, or terminated in order to ensure compliance with Section 409A of the Code or to avoid the application of any penalties that may be imposed upon the Executive pursuant to Section 409A of the Code, the parties hereby agree that they will use their best efforts and will negotiate in good faith to cause this Agreement to be so amended, modified or terminated (and may do so retroactively) and to the extent reasonably possible, such amendment, modification or termination shall not have a material adverse economic effect on the Executive, the Parent or Superior Bank.
Appears in 3 contracts
Samples: Change in Control Agreement (Superior Bancorp), Change in Control Agreement (Superior Bancorp), Change in Control Agreement (Superior Bancorp)
Integration and Amendments. This Agreement constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes any prior agreement or understanding, whether written or oral, relating to such subject matter. No modification or amendment to this Agreement shall be effective or binding unless in writing, specifying such modification or amendment, executed by all of the parties hereto. Notwithstanding the foregoing, in the event that the provisions of this Agreement should be amended, modified, modified or terminated in order to ensure compliance with Section 409A of the Code or in order to avoid the application of any penalties that may be imposed upon the Executive pursuant to Section 409A of the Code, the parties hereby agree that they will use their best efforts and will negotiate in good faith to cause this Agreement to be so amended, modified or terminated (and may do so retroactively) and to the extent reasonably possible, such amendment, modification or termination shall not have a material adverse economic effect on the Executive, the Parent or Superior the Bank.
Appears in 2 contracts
Samples: Employment Agreement (Superior Bancorp), Employment Agreement (Superior Bancorp)
Integration and Amendments. This Agreement constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes any prior agreement or understanding, whether written or oral, relating to such subject matter. No modification or amendment to this Agreement shall be effective or binding unless in writing, specifying such modification or amendment, executed by all of the parties hereto. . Notwithstanding the foregoing, in the event that the provisions of this Agreement should be amended, modified, modified or terminated in order to ensure compliance with Section 409A of the Code or in order to avoid the application of any penalties that may be imposed upon the Executive pursuant to Section 409A of the Code, the parties hereby agree that they will use their best efforts and will negotiate in good faith to cause this Agreement to be so amended, modified or terminated (and may do so retroactively) and to the extent reasonably possible, such amendment, modification or termination shall not have a material adverse economic effect on the Executive, the Parent or Superior the Bank.
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