Common use of Both Clause in Contracts

Both. parties acknowledge and agree that the covenants and/or provisions of this Employment Agreement may not be modified by any subsequent agreement unless the modifying agreement: (i) is in writing; (ii) contains an express provision referencing this Employment Agreement; (iii) is signed by the Executive; and (iv) is approved by the Board of Directors of the Bank.

Both. parties acknowledge and agree that the covenants and/or provisions of this Employment Agreement may not be modified by any subsequent agreement unless the modifying agreement: (i) is in writing; (ii) contains an express provision referencing this Employment Agreement; (iii) is signed and executed by the Chairman of the Board of the Company, as a representative of the Company; (iv) is signed by the Executive; and (ivv) is approved by the Board of Directors of the BankCompany.