EXECUTIVE EMPLOYMENT AGREEMENTExecutive Employment Agreement • April 25th, 2014 • YADKIN FINANCIAL Corp • State commercial banks • North Carolina
This Executive Employment Agreement (“Agreement”), signed as of April 23, 2014, is entered into by and among: (a) Yadkin Financial Corporation (“Yadkin Financial”), a North Carolina corporation, and Yadkin Bank, a state bank chartered under the laws of North Carolina; and (b) Joseph H. Towell (“Executive”), a resident of Davie County, North Carolina. This Agreement supersedes and replaces in its entirety the Amended and Restated Employment Agreement, dated December 20, 2008, as amended by that Amendment dated November 24, 2010 each between Yadkin Bank and the Executive (the “Prior Employment Agreement”), and takes effect on the consummation of the Mergers (the “Effective Date”) referenced below; provided, however, that in the event this Agreement becomes void because of a failure to consummate the Mergers, the Prior Employment Agreement shall remain in full force and effect. The Executive hereby waives any right or entitlement to any severance payments, compensation, monies, or benefit
FIRST AMENDMENT TO THE AGREEMENT AND PLAN OF MERGERThe Agreement and Plan of Merger • April 25th, 2014 • YADKIN FINANCIAL Corp • State commercial banks • Delaware
This FIRST AMENDMENT TO THE AGREEMENT AND PLAN OF MERGER, dated April 23, 2014 (this “Amendment”) amends that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of January 27, 2014, by and among Yadkin Financial Corporation (“Yadkin”), VantageSouth Bancshares, Inc. (“VantageSouth”), and Piedmont Community Bank Holdings, Inc. (“Piedmont”), pursuant to which VantageSouth and Piedmont will each merge with and into Yadkin.
