Termination or Modification of Agreement Because of Changes in Law. Rules or Regulations. The Bank is entering into this Agreement on the assumption that certain existing tax laws, rules, and regulations will continue in effect in their current form. If that assumption materially changes and the change has a material detrimental effect on this Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly, subject to the written consent of the Executive, which shall not be unreasonably withheld. This Section 7.14 shall become null and void effective immediately upon a Change in Control.
Appears in 6 contracts
Samples: Salary Continuation Agreement (Crescent Financial Corp), Salary Continuation Agreement (Bank of Wilmington CORP), Salary Continuation Agreement (Bank of Wilmington CORP)
Termination or Modification of Agreement Because of Changes in Law. Rules or Regulations. The Bank is entering into this Agreement on the assumption that certain existing tax laws, rules, and regulations will continue in effect in their current form. If that assumption materially changes and the change has a material detrimental effect on this Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly, subject to the written consent of the Executive, which shall not be unreasonably withheld. This Section 7.14 7.15 shall become null and void effective immediately upon a Change in Control.
Appears in 4 contracts
Samples: Salary Continuation Agreement (BNC Bancorp), Salary Continuation Agreement (Oak Ridge Financial Services, Inc.), Salary Continuation Agreement (BNC Bancorp)
Termination or Modification of Agreement Because of Changes in Law. Rules or Regulations. The Bank is entering into this Agreement on the assumption that certain existing tax laws, rules, and regulations will continue in effect in their current form. If that assumption materially changes and the change has a material detrimental effect on this Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly, subject to the written consent of the Executive, which shall not be unreasonably withheld. This Section 7.14 section 9.16 shall become null and void effective immediately upon after a Change in Control.
Appears in 3 contracts
Samples: Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp)
Termination or Modification of Agreement Because of Changes in Law. Rules or Regulations. The Bank is entering into this Agreement on the assumption that certain existing tax laws, rules, and regulations will continue in effect in their current form. If that assumption materially changes and the change has a material detrimental effect on this Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly, subject to the written consent of the Executive, which shall not be unreasonably withheld. This Section 7.14 7.15 shall become null and void effective immediately upon if a Change in ControlControl occurs.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp)
Termination or Modification of Agreement Because of Changes in Law. Rules or Regulations. The Bank is entering into this Agreement on the assumption that certain existing tax laws, rules, and regulations will continue in effect in their current form. If that assumption materially changes and the change has a material detrimental effect on this Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly, subject to the written consent of the Executive, which shall not be unreasonably withheld. This Section 7.14 section 9.16 shall become null and void effective immediately upon after a Change in Control.
Appears in 1 contract
Samples: Executive Deferred Compensation Agreement (Middlefield Banc Corp)
Termination or Modification of Agreement Because of Changes in Law. Rules or Regulations. The Bank is entering into this Agreement on the assumption that certain existing tax laws, rules, and regulations will continue in effect in their current form. If that assumption materially changes and the change has a material detrimental effect on this Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly, subject to the written consent of the Executive, which shall not be unreasonably withheld. This Section 7.14 7.13 shall become null and void effective immediately upon if a Change in ControlControl occurs.
Appears in 1 contract
Samples: Salary Continuation Agreement (American River Bankshares)
Termination or Modification of Agreement Because of Changes in Law. Rules or Regulations. The Bank is entering into this Agreement on the assumption that certain existing tax laws, rules, and regulations will continue in effect in their current form. If that assumption materially changes and the change has a material detrimental effect on this Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly, subject to the written consent of the ExecutiveOfficer, which shall not be unreasonably withheld. This Section 7.14 shall become null and void effective immediately upon if a Change in ControlControl occurs.
Appears in 1 contract
Samples: Salary Continuation Agreement (Midcarolina Financial Corp)
