TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE LAW. RULES OR REGULATIONS The Bank is entering into this Agreement upon the assumption that certain existing tax laws, rules and regulations will continue in effect in their current form. If any said assumptions should change and said change has a detrimental effect on this Directors Delayed Compensation Plan Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly. Upon a Change of Control (Paragraph IX), this paragraph shall become null and void effective immediately upon said Change of Control.
Appears in 5 contracts
Samples: Directors Delayed Compensation Plan Agreement (Community Trust Financial Services Corporation), Directors Delayed Compensation Plan Agreement (Community Trust Financial Services Corporation), Directors Delayed Compensation Plan Agreement (Community Trust Financial Services Corporation)
TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE LAW. RULES OR REGULATIONS The Bank is entering into this Agreement upon the assumption that certain existing tax laws, rules and regulations will continue in effect in their current form. If any said assumptions should change and said change has a detrimental effect on this Directors Delayed Compensation Plan AgreementExecutive Plan, then the Bank reserves the right to terminate or modify this Agreement accordingly. Upon a Change of Control [Subparagraph I (Paragraph IXI)], this paragraph shall become null and void effective immediately upon said Change of Control.
Appears in 3 contracts
Samples: Executive Supplemental Retirement Plan (Community Trust Financial Services Corporation), Executive Supplemental Retirement Plan (Community Trust Financial Services Corporation), Executive Supplemental Retirement Plan (Fauquier Bankshares Inc)
TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE LAW. RULES OR REGULATIONS Rules or Regulations. The Bank is entering into this Agreement agreement upon the assumption that certain existing tax laws, rules and regulations will continue in effect in their current form. If any said assumptions should materially change and said change has a material detrimental effect on this Directors Delayed Compensation Plan Agreement, then the Bank reserves the right to terminate or modify this Agreement accordingly. Upon a Change , subject to obtaining the written consent of Control (Paragraph IX)the Executive, this paragraph which shall become null and void effective immediately upon said Change of Controlnot be unreasonably withheld.
Appears in 1 contract
Samples: Salary Continuation Agreement (First Northern Community Bancorp)
