Noncompete Agreements. SBKC shall have received from each director and executive officer of Neighbors a signed mutually satisfactory noncompete agreement providing that for a period of two years after the Effective Time, such director will not serve on the board of directors of any financial institution (or holding company therefore) with offices located within 15 miles of the main office of Neighbors in Alpharetta, Georgia.
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Sources: Merger Agreement (Security Bank Corp), Merger Agreement (Neighbors Bancshares Inc)
Noncompete Agreements. SBKC shall have received as of the date of this Agreement from each director and executive officer of Neighbors First Commerce a signed mutually satisfactory noncompete agreement providing that for a period of two years after the Effective Time, such director will not serve on the board of directors of any financial institution (or holding company therefore) with offices located within 15 30 miles of the current main office of Neighbors First Commerce in AlpharettaDouglasville, Georgia.
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