Common use of TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OFCHANGES IN THE LAW, RULES OR REGULATIONS Clause in Contracts

TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OFCHANGES 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 Executive Plan, then the Bank reserves the right to terminate or modify this Agreement accordingly, but only to the extent necessary to conform this Agreement to the provisions and requirements of any applicable law (including ERISA and the Code, including, but not limited to Section 409A of the Code and regulations thereunder). Upon a Change of Control, the provisions of Paragraph IX respecting assumption of the obligations of this Agreement by the successor entity shall apply.

TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OFCHANGES IN THE LAW, RULES OR REGULATIONS. The Bank Company 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 Executive Plan, then the Bank Company reserves the right to terminate or modify this Agreement accordingly, but only to the extent necessary to conform this Agreement to the provisions and requirements of any applicable law (including ERISA and the Code, including, but not limited to Section 409A of the Code and regulations thereunder). Upon a Change of Control, the provisions of Paragraph IX respecting assumption of the obligations of this Agreement by the successor entity shall apply.