ContractChange of Control Agreement this Agreement • March 18th, 2005 • Alliance Financial Corp /Ny/ • National commercial banks
CHANGE OF CONTROL AGREEMENT THIS AGREEMENT is made as of January 1, 2005 by and between (i) ALLIANCE FINANCIAL CORPORATION, a New York corporation and registered bank holding company (“Corporation”) and ALLIANCE BANK, N.A. a wholly owned subsidiary of the Corporation (“Bank”), having a principal place of business at 120 Madison Street, Syracuse, Onondaga County, New York, (the Corporation and the Bank are referred to collectively in this agreement as the “Employer”), and (ii) CONNIE M. WHITTON currently residing in Manlius, New York “(Executive”). WITNESSETH: WHEREAS, The Board of Directors (the “Board”) of the Employer has approved the Bank entering into a severance agreement with certain key executives to encourage the continued dedication of the Executive to the Bank and to promote the stability of Bank management by providing certain protections for the Executive in the event a change of control occurs with the bank; and WHEREAS, should the Corporation receive any proposal from a t
