Common use of Amendment or Revocation Clause in Contracts

Amendment or Revocation. It is agreed by and between the parties hereto that, during the lifetime of the Executive, this Executive Agreement may be amended or revoked at any time or times, in whole or in part, but only by the mutual written consent of the Executive and the Bank. Any amendment or revocation that is not in writing and not agreed to by both parties hereto shall be null and void.

Appears in 5 contracts

Sources: Executive Supplemental Retirement Agreement (GBC Bancorp Inc), Executive Supplemental Retirement Agreement (GBC Bancorp Inc), Executive Supplemental Retirement Agreement (GBC Bancorp Inc)

Amendment or Revocation. It is agreed by and between the parties hereto that, during the lifetime of the Executive, this Executive Agreement may be amended or revoked at any time or times, in whole or in part, but only by the mutual written consent of the Executive and the Bank. Any amendment Notwithstanding the foregoing, in no event shall this Agreement be amended to permit the Executive to accelerate or revocation that is not in writing and not agreed change the timing or form of any benefits provided hereunder, except such change as may be permissible pursuant to by both parties hereto shall be null and voidSection 409A of the Code.

Appears in 1 contract

Sources: Executive Employment Agreement (First Colebrook Bancorp, Inc.)

Amendment or Revocation. It is agreed by and between the parties hereto that, during the lifetime of the Executive, this Executive Agreement may be amended or revoked at any time or times, in whole or in part, but only by the mutual written consent of the Executive and the Bank. Any amendment or revocation that is not in writing and not agreed to by both parties hereto such Amendment shall be null and void.subject to Internal Revenue Code Section 409A.

Appears in 1 contract

Sources: Executive Salary Continuation Agreement (Simmons First National Corp)