Common Contracts

2 similar Separation and Release Agreement contracts by Crescent Financial Bancshares, Inc.

SEPARATION AND RELEASE AGREEMENT
Separation and Release Agreement • March 30th, 2012 • Crescent Financial Bancshares, Inc. • State commercial banks • North Carolina

This Separation and Release Agreement (this “Agreement”) is made as of this 30th day of January, 2012, by and among Crescent Financial Bancshares, Inc. (the “Company”), a Delaware corporation and successor to Crescent Financial Corporation, a North Carolina corporation; Crescent State Bank (the “Bank”), a North Carolinas chartered bank (the Company and the Bank are collectively referred to herein as the “Employer”); and Michael G. Carlton, a resident of the State of North Carolina (the “Executive”).

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SEPARATION AND RELEASE AGREEMENT
Separation and Release Agreement • March 30th, 2012 • Crescent Financial Bancshares, Inc. • State commercial banks • North Carolina

This Separation and Release Agreement (this “Agreement”) is made as of this 15th day of March, 2012, by and among Crescent Financial Bancshares, Inc. (the “Company”), a Delaware corporation and successor to Crescent Financial Corporation, a North Carolina corporation; Crescent State Bank (the “Bank”), a North Carolina-chartered bank (the Company and the Bank are collectively referred to herein as the “Employer”); and Bruce W. Elder (the “Executive”), a resident of the State of North Carolina.

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