Common use of Compensation Program Amendments Clause in Contracts

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive, retention and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you or in which you may participate from time to time is hereby amended to the extent necessary to give effect to provisions (1), (2) and (3). For reference, certain affected Benefit Plans are set forth in Appendix A to this letter. In addition, the Company is required to review its Benefit Plans to ensure that they exclude incentives for senior executive officers to take unnecessary and excessive risks that threaten the value of the Company during the TARP Period. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

Appears in 5 contracts

Samples: Securities Purchase Agreement (Green Bankshares, Inc.), Securities Purchase Agreement (Green Bankshares, Inc.), Securities Purchase Agreement (Green Bankshares, Inc.)

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Compensation Program Amendments. Each of the Company’s 's compensation, bonus, incentive, retention incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) either currently or hereinafter in effect and including all amendments thereto (collectively, "Benefit Plans") with respect to you or in which you may participate from time to time is hereby amended to the extent necessary to give effect to provisions (1), (2) and (32). For reference<PAGE> Xxxxxxx X. Xxxxxx, certain affected Benefit Plans are set forth in Appendix A to this letterXx. December 11, 2008 Page 2 In addition, the Company is required to review its Benefit Plans to ensure that they exclude incentives for do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company during the TARP PeriodCompany. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (Monadnock Bancorp Inc)

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive, retention incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you or in which you may participate from time to time is hereby amended to the extent necessary to give effect to provisions (1), (2) and (32). For reference, certain affected Benefit Plans are set forth in Appendix A to this letter. Xxxxxx XxXxxx, Xx. December 12, 2008 Page 2 In addition, the Company is required to review its Benefit Plans to ensure that they exclude incentives for do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company during the TARP PeriodCompany. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (Pinnacle Financial Partners Inc)

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive, retention incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you or in which you may participate from time to time is hereby amended to the extent necessary to give effect to provisions (1), (2) and (32). For referenceUST Sequence No. 9 Xxxxxxx X. Xxxxxxxxxx November 18, certain affected Benefit Plans are set forth in Appendix A to this letter. 2008 Page 2 In addition, the Company is required to review its Benefit Plans to ensure that they exclude incentives for do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company during the TARP PeriodCompany. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (First Niagara Financial Group Inc)

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive, retention incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you or in which you may participate from time to time is hereby amended to the extent necessary to give effect to provisions (1), (2) and (32). For reference, certain affected Benefit Plans are set forth in Appendix A to this letter. Appendix A is not necessarily an exhaustive list of affected Benefit Plans. In addition, the Company is required to review its Benefit Plans to ensure that they exclude incentives for do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company during the TARP PeriodCompany. To the extent any such review requires revisions to any Benefit Plan with respect to youyou that the Company does not have the authority to change unilaterally, you and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (Hf Financial Corp)

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Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive, retention incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you or in which you may participate from time to time is hereby amended to the extent necessary to give effect to provisions (1), (2l) and (32). For referenceUST Sequence No. 9 Xxxxx X. Xxxxxx November 18, certain affected Benefit Plans are set forth in Appendix A to this letter. 2008 Page 2 In addition, the Company is required to review its Benefit Plans to ensure that they exclude incentives for do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company during the TARP PeriodCompany. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (First Niagara Financial Group Inc)

Compensation Program Amendments. Each of the Company’s compensation, bonus, incentive, retention incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) either currently or hereinafter in effect and including all amendments thereto (collectively, “Benefit Plans”) with respect to you or in which you may participate from time to time is hereby amended to the extent necessary to give effect to provisions (1), (2) and (32). For referenceUST Sequence No. 9 Xxxx X. Xxxxxxx November 18, certain affected Benefit Plans are set forth in Appendix A to this letter. 2008 Page 2 In addition, the Company is required to review its Benefit Plans to ensure that they exclude incentives for do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company during the TARP PeriodCompany. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

Appears in 1 contract

Samples: Securities Purchase Agreement (First Niagara Financial Group Inc)

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