Increase in Compensation. The Company and United Valley Bank shall not grant to any officer, employee or agent any increase in compensation (other than any increase referred to in Section 5.2.11(f) hereof) or in severance or termination pay, or enter into any employment agreement, except as may be required under employment, termination or other agreements in effect on the date of this Agreement and which are described in the Company Disclosure Memorandum.
Appears in 2 contracts
Sources: Reorganization Agreement (Vail Banks Inc), Reorganization Agreement (Vail Banks Inc)