Exhibit 10 S
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Amendment to Executive Severance Agreement
with Xxxxxx X. Xxxxx, III
Exhibit 10 S
AMENDMENT TO EXECUTIVE SEVERANCE AGREEMENT
This Agreement, entered into as of February 21, 2002, amends the Executive
Severance Agreement dated February 2, 2001 by and between Mercantile Bankshares
Corporation, Mercantile-Safe Deposit and Trust Company and Xxxxxx X. Xxxxx, III.
Section 1(c) of the Executive Severance Agreement is hereby amended to read
as follows:
"(c) "Change of Control Period" shall mean the period commencing on the
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date hereof and ending on the third anniversary of such date;
provided, however, that commencing on the date one year after the date
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hereof, and on each annual anniversary of such date (such date and
each annual anniversary thereof hereinafter referred to as the
"Renewal Date"), the Change of Control Period shall be extended
automatically so as to terminate on the third anniversary of such
Renewal Date, unless at least 60 days prior to the Renewal Date the
Company shall give notice that the Change of Control Period shall not
be so extended, but no such notice shall be given by the Company which
would cause the Change of Control Period to expire during the term of
any employment agreement between the Company and the Executive."
As so amended, the Executive Severance Agreement remains in full force and
effect.
IN WITNESS WHEREOF, the parties have executed this instrument as of
February 21, 2002.
WITNESS:
/s/ Xxxx X. Xxxxxx /s/ Xxxxxx X. Xxxxx, III (SEAL)
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XXXX X. XXXXXX XXXXXX X. XXXXX, III
ATTEST: MERCANTILE BANKSHARES
CORPORATION
/s/ Xxxx X. Xxxxxx By:/s/ Xxxx X. Xxxxx (SEAL)
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XXXX X. XXXXXX XXXX X. XXXXX
Secretary Executive Vice President
ATTEST: MERCANTILE-SAFE DEPOSIT AND
TRUST COMPANY
/s/ Xxxx X. Xxxxxx By: /s/ J. Xxxxxxxx Xxxx (SEAL)
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XXXX X. XXXXXX J. XXXXXXXX XXXX
Secretary President
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