Common use of Non-Binding Mediation Required Prior to Litigation Clause in Contracts

Non-Binding Mediation Required Prior to Litigation. The parties agree that in the event that any disagreement arises under this Agreement concerning any payment of remuneration to be made under this Agreement, or the interpretation or application of this Agreement, or any of the provisions of this Agreement, or any other matter with respect to the employment of the Executive by the Company pursuant to this Agreement, other than matters covered by Section 5 of this Agreement, then prior to the institution of any litigation by either party, such disagreement shall be first mediated by the parties who will use one mediator agreeable to them (or who is selected by two mediators each agreeable to one of the parties hereto if the parties are unable to agree unanimously on one mediator). Notwithstanding the foregoing, the parties agree that such non-binding mediation shall not be required prior to the institution of litigation by the Company to obtain injunctive or other equitable relief to enforce any of the covenants in Section 5 of this Agreement. Any such mediation shall not be binding upon either party, and the cost of any such mediation proceedings, other than the Executive’s legal fees and expenses, the payment of which shall be governed by the provisions of Section 6 of this Agreement, shall be borne exclusively by the Company. The parties have executed this Agreement effective as of the 22nd day of December, 2004. LSB BANCSHARES, INC. /s/ Rxxxxx X. Xxxx By: Rxxxxx X. Xxxx Its: Chairman, President and Chief Executive Officer AXXXXX X. XxXXXXXX /s/ Axxxxx X. XxXxxxxx EXHIBIT A WAIVER AND RELEASE AGREEMENT This Waiver and Release Agreement reflects the promises, releases, understanding and agreement made by AXXXXX X. XxXXXXXX (“Executive”) regarding the termination of Executive’s employment with LSB BANCSHARES, INC. (the “Company”).

Non-Binding Mediation Required Prior to Litigation. The parties agree that in the event that any disagreement arises under this Agreement concerning any payment of remuneration to be made under this Agreement, or the interpretation or application of this Agreement, or any of the provisions of this Agreement, or any other matter with respect to the employment of the Executive by the Company pursuant to this Agreement, other than matters covered by Section 5 6 of this Agreement, then prior to the institution of any litigation by either party, such disagreement shall be first mediated by the parties who will use one mediator agreeable to them (or who is selected by two mediators each agreeable to one of the parties hereto if the parties are unable to agree unanimously on one mediator). Notwithstanding the foregoing, the parties agree that such non-binding mediation shall not be required prior to the institution of litigation by the Company to obtain injunctive or other equitable relief to enforce any of the covenants in Section 5 6 of this Agreement. Any such mediation shall not be binding upon either party, and the cost of any such mediation proceedings, other than the Executive’s legal fees and expenses, the payment of which shall be governed by the provisions of Section 6 7 of this Agreement, shall be borne exclusively by the Company. The parties have executed this Agreement effective as of the 22nd 1st day of DecemberJanuary, 2004. LSB BANCSHARES, INC. /s/ Rxxxxx X. Xxxx By: Rxxxxx X. Xxxx Its: Chairman, President and Chief Executive Officer AXXXXX RXXXXX X. XxXXXXXX /s/ Axxxxx X. XxXxxxxx XXXXXXX EXHIBIT A WAIVER AND RELEASE AGREEMENT This Waiver and Release Agreement reflects the promises, releases, understanding and agreement made by AXXXXX RXXXXX X. XxXXXXXX XXXXXXX (“Executive”) regarding the termination of Executive’s employment with LSB BANCSHARES, INC. (the “Company”).

Non-Binding Mediation Required Prior to Litigation. The parties agree that in the event that any disagreement arises under this Agreement concerning any payment of remuneration to be made under this Agreement, or the interpretation or application of this Agreement, or any of the provisions of this Agreement, or any other matter with respect to the employment of the Executive by the Company pursuant to this Agreement, other than matters covered by Section 5 6 of this Agreement, then prior to the institution of any litigation by either party, such disagreement shall be first mediated by the parties who will use one mediator agreeable to them (or who is selected by two mediators each agreeable to one of the parties hereto if the parties are unable to agree unanimously on one mediator). Notwithstanding the foregoing, the parties agree that such non-binding mediation shall not be required prior to the institution of litigation by the Company to obtain injunctive or other equitable relief to enforce any of the covenants in Section 5 6 of this Agreement. Any such mediation shall not be binding upon either party, and the cost of any such mediation proceedings, other than the Executive’s legal fees and expenses, the payment of which shall be governed by the provisions of Section 6 7 of this Agreement, shall be borne exclusively by the Company. The parties have executed this Agreement effective as of the 22nd 1st day of DecemberJanuary, 2004. LSB BANCSHARES, INC. /s/ Rxxxxx X. Xxxx By: Rxxxxx X. Xxxx Its: Chairman, President and Chief Executive Officer AXXXXX KXXXX X. XxXXXXXX /s/ Axxxxx X. XxXxxxxx XXXXXXXXXX EXHIBIT A WAIVER AND RELEASE AGREEMENT This Waiver and Release Agreement reflects the promises, releases, understanding and agreement made by AXXXXX KXXXX X. XxXXXXXX XXXXXXXXXX (“Executive”) regarding the termination of Executive’s employment with LSB BANCSHARES, INC. (the “Company”).

Non-Binding Mediation Required Prior to Litigation. The parties agree that in the event that any disagreement arises under this Agreement concerning any payment of remuneration to be made under this Agreement, or the interpretation or application of this Agreement, or any of the provisions of this Agreement, or any other matter with respect to the employment of the Executive by the Company pursuant to this Agreement, other than matters covered by Section 5 6 of this Agreement, then prior to the institution of any litigation by either party, such disagreement shall be first mediated by the parties who will use one mediator agreeable to them (or who is selected by two mediators each agreeable to one of the parties hereto if the parties are unable to agree unanimously on one mediator). Notwithstanding the foregoing, the parties agree that such non-binding mediation shall not be required prior to the institution of litigation by the Company to obtain injunctive or other equitable relief to enforce any of the covenants in Section 5 6 of this Agreement. Any such mediation shall not be binding upon either party, and the cost of any such mediation proceedings, other than the Executive’s legal fees and expenses, the payment of which shall be governed by the provisions of Section 6 7 of this Agreement, shall be borne exclusively by the Company. The parties have executed this Agreement effective as of the 22nd 1st day of DecemberJanuary, 2004. LSB BANCSHARES, INC. /s/ Rxxxxx X. Xxxx By: Rxxxxx X. Xxxx Its: Chairman, President and Chief Executive Officer AXXXXX X. XxXXXXXX /s/ Axxxxx X. XxXxxxxx H. FXXXXXXX XXXXXXX EXHIBIT A WAIVER AND RELEASE AGREEMENT This Waiver and Release Agreement reflects the promises, releases, understanding and agreement made by AXXXXX X. XxXXXXXX H. FXXXXXXX XXXXXXX, XX. (“Executive”) regarding the termination of Executive’s employment with LSB BANCSHARES, INC. (the “Company”).

Non-Binding Mediation Required Prior to Litigation. The parties agree that in the event that any disagreement arises under this Agreement concerning any payment of remuneration to be made under this Agreement, or the interpretation or application of this Agreement, or any of the provisions of this Agreement, or any other matter with respect to the employment of the Executive by the Company pursuant to this Agreement, other than matters covered by Section 5 6 of this Agreement, then prior to the institution of any litigation by either party, such disagreement shall be first mediated by the parties who will use one mediator agreeable to them (or who is selected by two mediators each agreeable to one of the parties hereto if the parties are unable to agree unanimously on one mediator). Notwithstanding the foregoing, the parties agree that such non-binding mediation shall not be required prior to the institution of litigation by the Company to obtain injunctive or other equitable relief to enforce any of the covenants in Section 5 6 of this Agreement. Any such mediation shall not be binding upon either party, and the cost of any such mediation proceedings, other than the Executive’s legal fees and expenses, the payment of which shall be governed by the provisions of Section 6 7 of this Agreement, shall be borne exclusively by the Company. The parties have executed this Agreement effective as of the 22nd 1st day of DecemberJanuary, 2004. LSB BANCSHARES, INC. /s/ Rxxxxx X. Xxxx By: Rxxxxx X. Xxxx H. Fxxxxxxx Xxxxxxx, Xx. Its: Chairman, Vice President and Chief Executive Officer AXXXXX RXXXXX X. XxXXXXXX /s/ Axxxxx X. XxXxxxxx XXXX EXHIBIT A WAIVER AND RELEASE AGREEMENT This Waiver and Release Agreement reflects the promises, releases, understanding and agreement made by AXXXXX RXXXXX X. XxXXXXXX XXXX (“Executive”) regarding the termination of Executive’s employment with LSB BANCSHARES, INC. (the “Company”).

Non-Binding Mediation Required Prior to Litigation. The parties agree that in the event that any disagreement arises under this Agreement concerning any payment of remuneration to be made under this Agreement, or the interpretation or application of this Agreement, or any of the provisions of this Agreement, or any other matter with respect to the employment of the Executive by the Company pursuant to this Agreement, other than matters covered by Section 5 of this Agreement, then prior to the institution of any litigation by either party, such disagreement shall be first mediated by the parties who will use one mediator agreeable to them (or who is selected by two mediators each agreeable to one of the parties hereto if the parties are unable to agree unanimously on one mediator). Notwithstanding the foregoing, the parties agree that such non-binding mediation shall not be required prior to the institution of litigation by the Company to obtain injunctive or other equitable relief to enforce any of the covenants in Section 5 of this Agreement. Any such mediation shall not be binding upon either party, and the cost of any such mediation proceedings, other than the Executive’s legal fees and expenses, the payment of which shall be governed by the provisions of Section 6 of this Agreement, shall be borne exclusively by the Company. The parties have executed this Agreement effective as of the 22nd 16th day of DecemberAugust, 2004. LSB BANCSHARES, INC. /s/ Rxxxxx X. Xxxx By: Rxxxxx X. Xxxx Its: Chairman, President and Chief Executive Officer AXXXXX DXXXX X. XxXXXXXX XXXXXXXXX /s/ Axxxxx Dxxxx X. XxXxxxxx Xxxxxxxxx EXHIBIT A WAIVER AND RELEASE AGREEMENT This Waiver and Release Agreement reflects the promises, releases, understanding and agreement made by AXXXXX DXXXX X. XxXXXXXX XXXXXXXXX (“Executive”) regarding the termination of Executive’s employment with LSB BANCSHARES, INC. (the “Company”).