Common use of Vesting of Non-Qualified Deferred Compensation Clause in Contracts

Vesting of Non-Qualified Deferred Compensation. The Bank shall fully vest the Executive in any non-qualified deferred compensation plan(s) sponsored by the Bank or the Company in which the Executive participates. The Bank may condition the provision of the Severance Benefits on the Executive signing a Release Agreement in substantially the form of Exhibit A (the “Release Agreement”) within twenty-one (21) days (or forty-five (45) days in certain conditions, in accordance with applicable law) after it is tendered and not revoking the Release Agreement within the seven (7) day revocation period set forth in the Release Agreement; provided that the Bank tender the Release Agreement to the Executive no later than the Termination Date. Notwithstanding the foregoing, the Release Agreement may be modified to the extent necessary based on changes in applicable law from and after the date of this Agreement.

Vesting of Non-Qualified Deferred Compensation. The Bank Company shall fully vest the Executive in any non-qualified deferred compensation plan(s) sponsored by the Bank Company or the Company Bank in which the Executive participates. The Bank Company may condition the provision of the Severance Benefits on the Executive signing a Release Agreement in substantially the form of Exhibit A (the “Release Agreement”) within twenty-one (21) days (or forty-five (45) days in certain conditions, in accordance with applicable law) after it is tendered and not revoking the Release Agreement within the seven (7) day revocation period set forth in the Release Agreement; provided that the Bank Company tender the Release Agreement to the Executive no later than the Termination Date. Notwithstanding the foregoing, the Release Agreement may be modified to the extent necessary based on changes in applicable law from and after the date of this Agreement.