BONUS RECOVERY AGREEMENTBonus Recovery Agreement • February 5th, 2010 • Carolina Bank Holdings Inc • State commercial banks
By signing this Bonus Recovery Agreement, the undersigned (x) acknowledges that he or she is or may be an “Affected Employee” as that term is defined in the Corporation’s Troubled Asset Relief Program (“TARP”) Capital Purchase Program (“CPP”) Clawback Policy (the “Clawback Policy”) adopted by the Board of Directors of Carolina Bank Holdings, Inc. (as the same may be modified or amended after the date hereof), (y) acknowledges having received a copy of and having read the Clawback Policy, and (z) agrees to abide by and be subject to the terms of the Clawback Policy and Rule 30.8 of the TARP CPP compensation rules.
