RECITALS:Change of Control Agreement • March 30th, 1999 • Cenit Bancorp Inc • Savings institution, federally chartered • Virginia
THIS EMPLOYMENT AGREEMENT (the "Agreement") is entered into as of the 1st day of November, 1997, by and between CENIT Bancorp, Inc., a Delaware corporation (hereinafter referred to as "Bancorp") and Michael S. Ives (the "Executive"). RECITALSEmployment Agreement • March 30th, 1999 • Cenit Bancorp Inc • Savings institution, federally chartered • Virginia
ALTERNATIVE STOCK APPRECIATION RIGHT AGREEMENT (Officers)Alternative Stock Appreciation Right Agreement • March 30th, 1999 • Cenit Bancorp Inc • Savings institution, federally chartered
