EXHIBIT (10) EE. (v)
AMENDMENT NO. 4
TO
TERMINATION AGREEMENT
THIS AMENDMENT NO. 4 dated and entered into effective as of the
20th day of March, 1996, to the TERMINATION AGREEMENT (the
Agreement) by and between United Jersey Banks (now Summit
Bancorp), a New Jersey corporation (the Company) and [executive
officer] (the Executive), as amended by Amendment No. 1 dated
December 20, 1989, Amendment No. 2 dated October 16, 1991 and
Amendment No. 3 dated December 16, 1992.
WITNESSETH:
WHEREAS, the Company and the Executive have previously entered
into the Agreement referred to above; and
WHEREAS, the Company and the Executive desire to amend the
Agreement to extend the term of the Agreement;
NOW, THEREFORE, to assure the Company of the Executive's
continued dedication and the availability of his advice and
counsel in the event of any proposed change of control of the
Company, to induce the Executive to remain in the employ of the
Company or a Subsidiary of the Company, and to reward the
Executive for his valuable, dedicated service to the Company or
a Subsidiary should his service be terminated under
circumstances described in the Agreement, and for other good and
valuable consideration, the receipt and adequacy whereof each
party acknowledges, the Company and the Executive agreed that
the Agreement is hereby amended as follows:
1.Paragraph 1.(b) of the Agreement is amended in its entirety to
read as follows:
1.(b) The Company shall be obligated to make the payments
referred to in paragraphs 3 and 4 hereof following, and the
provisions of paragraph 2 hereof shall apply to, a Change in
Control of the Company only if such Change in Control shall have
occurred prior to, or as a result of efforts designed to attain
such and known to the parties hereto to have commenced prior to,
January 11, 1999 (or such later date as the Board shall
determine).
IN WITNESS WHEREOF, the parties have executed this Amendment
No. 4 to the Agreement as of the date set forth above.
SUMMIT BANCORP. EXECUTIVE
BY:______________________________________________________________
T. Xxxxxx Xxxxxx, Chairman of the Board [Name of Executive
and Chief Executive Officer Officer]
