Amendment to the Agreement Clause Example with 5 Variations from Business Contracts
This page contains Amendment to the Agreement clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Amendment to the Agreement. Notwithstanding anything in the Agreement to the contrary, as of the Amendment Effective Date, all references in the Agreement to "Senior Vice President and Chief Brand Officer" of the Bank are hereby amended and replaced with "Executive Vice President and Chief Operating Officer" of the Bank. In addition to the change in Executive's title, Executive's Base Salary set forth in Section 3 of the Agreement shall become $220,000.00, effective as of the Amendment Effective Date and all references the...rein to his Base Salary shall be read to mean the Base Salary as set forth herein. Section 2. Acknowledgement. By executing and agreeing to this Amendment, Executive hereby acknowledges and agrees that the change in title reflected in Section 1 above, and the resultant change in Executive's duties and responsibilities, which changes are effective as of the Amendment Effective Date, do not constitute a "Good Reason" for Executive's resignation under Sections 4(a) of the Agreement, and do not entitle Executive to the payments and benefits set forth in Section 4(b) of the Agreement. Section 3. Continuation of Agreement. Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected. Section 4. Governing Law. This Amendment and the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of Wisconsin. Section 5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall for all purposes be deemed an original, and all of which together shall constitute but one and the same instrument.View More
Variations of a "Amendment to the Agreement" Clause from Business Contracts
Amendment to the Agreement. Notwithstanding anything in the Agreement to the contrary, as of the Amendment Effective Date, all the following changes shall be made to the Agreement as if set forth therein: (a) Section 1 of the Agreement is hereby revised to indicate that Executive's position is "Senior Vice President and Commercial Lending Officer." All references in the Agreement to "Senior Vice President and Chief Brand Lending Officer" of the Bank are hereby amended and replaced with "Executive "Senior Vice President and... Chief Operating – Commercial Lending Officer" of the Bank. In addition Bank; (b) Section 2(a) of the Agreement is hereby revised to reflect that the change in Executive's title, Executive's Base Salary set forth in Section 3 term of the Agreement shall become $220,000.00, effective as be for a period of eighteen (18) months from the Effective Date set forth in the Agreement and shall be non-renewing; (c) Section 2(d) of the Amendment Effective Date Agreement is hereby revised to reflect that Executive shall devote approximately twenty (20) hours per week to the faithful performance of his duties as Senior Vice President and all references therein Commercial Lending Officer; (d) Section 3(a) of the Agreement is hereby revised to his reflect the Executive's annualized rate of Base Salary for the remainder of the Agreement shall be read One Hundred Ten Thousand Dollars ($110,000). For these purposes, Executive shall receive fifty percent (50%) of the full time pay previously credited for Bank holidays; (e) Section 3(c) of the Agreement is hereby revised to mean reflect that the Executive shall no longer receive paid health care coverage from the Bank but may be eligible for COBRA health care continuation coverage, to the extent otherwise eligible to Executive and/or his family; (f) Section 3(d) of the Agreement is hereby revised to reflect that Executive's future paid time off shall be pro-rated to reflect his reduced hours of employment. For calendar year 2023, Executive shall be entitled to 132 hours of paid time off, subject to reduction to the extent Executive works for less than 12 months in 2023; (g) Section 4(c) of the Agreement shall be deleted in its entirety; (h) Section 5(c) of the Agreement is hereby revised to provide that the lump sum cash payment to which Executive would be entitled thereunder is equal to "one and one-half times the sum of (i) Executive's rate of Base Salary as set forth herein. at the time of the Change in Control and (ii) one half of the highest bonus paid to Executive with respect to the three completed fiscal years prior to the Change in Control. "; and (i) Section 5(d) of the Agreement shall be deleted in its entirety. Section 2. Acknowledgement. By executing and agreeing to this Amendment, Executive hereby acknowledges and agrees that the change in title reflected Executive's title, duties and responsibilities, and reduction in Base Salary and benefits, as each is set forth in Section 1 above, and the resultant change in Executive's duties and responsibilities, which changes are effective as of the Amendment Effective Date, do not constitute a "Good Reason" for Executive's resignation under Sections 4(a) of the Agreement, and do not entitle Executive to the payments and benefits set forth in Section 4(b) of the Agreement. Section 3. Continuation of Agreement. Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected. Section 4. Governing Law. This Amendment and the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of Wisconsin. Section 5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall for all purposes be deemed an original, and all of which together shall constitute but one and the same instrument. View More
Amendment to the Agreement. Notwithstanding anything in the Agreement to the contrary, as of the Amendment Effective Date, all references in the Agreement to "Senior "Executive Vice President and Chief Brand Officer" President" of the Bank are hereby amended eliminated and replaced with "Executive Vice President and Chief Operating hereafter the Agreement shall be read as employing Executive solely as the "Senior Credit Officer" of the Bank. In addition to the change in Executive's title, Executive's Base Salary set forth ...in Section 3 capacity of Senior Credit Officer, Executive shall no longer be responsible for the credit underwriting or credit administration functions of the Agreement shall become $220,000.00, effective as of the Amendment Effective Date and all references therein to his Base Salary shall be read to mean the Base Salary as set forth herein. Section Bank.Section 2. Acknowledgement. By executing and agreeing to this Amendment, Executive hereby acknowledges and agrees that the change in title reflected in Section 1 above, and the resultant change in Executive's duties and responsibilities, which changes are effective as of the Amendment Effective Date, do not constitute a "Good Reason" for Executive's resignation under Sections 4(a) 5(a)(ii) of the Agreement, and do not entitle Executive to the payments and benefits set forth in Section 4(b) 5(b) of the Agreement. Section Agreement.Section 3. Continuation of Agreement. Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected. Section 4. Governing Law. This Amendment and the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of Wisconsin. New York. Section 5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall for all purposes be deemed an original, and all of which together shall constitute but one and the same instrument. View More
Amendment to the Agreement. Notwithstanding anything in the Agreement to the contrary, as of the Amendment Effective Date, all references in the Agreement to "Senior Executive Vice President President, Chief Administrative and Chief Brand Financial Officer" of the Bank are hereby amended and replaced with "Executive "Senior Executive Vice President and President, Chief Operating Officer" of the Bank. In addition to the change in Executive's title, Executive's Base Salary set forth in Section 3 of the Agreement shall become... $220,000.00, effective as of the Amendment Effective Date Officer and all references therein to his Base Salary shall be read to mean the Base Salary as set forth herein. Corporate Secretary." Section 2. Acknowledgement. By executing and agreeing to this Amendment, Executive hereby acknowledges and agrees that the change in title reflected in Section 1 above, and the resultant change in Executive's duties and responsibilities, which changes are effective as of the Amendment Effective Date, do not constitute a "Good Reason" for Executive's resignation under Sections 4(a) Section 7(a)(1) of the Agreement, and do not entitle Executive to the payments and benefits set forth in either Section 4(b) 7(b) or Section 7(c) of the Agreement. Section 3. Continuation of Agreement. Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected. Section 4. Governing Law. This Amendment and the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of Wisconsin. New York. Section 5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall for all purposes be deemed an original, and all of which together shall constitute but one and the same instrument. View More
Amendment to the Agreement. Notwithstanding anything in the Agreement to the contrary, as of the Amendment Effective Date, all references in the Agreement to "Senior "Executive Vice President President, Chief Financial Officer, Treasurer and Chief Brand Officer" Corporate Secretary" of the Company and/or the Bank are hereby amended and replaced with "Executive Vice President and President, Chief Operating Officer" Officer and Corporate Secretary" of the Company and/or the Bank. In addition to the change in Executive's titl...e, Executive's Base Salary set forth in Section 3 of the Agreement shall become $220,000.00, effective as of the Amendment Effective Date and all references therein to his Base Salary shall be read to mean the Base Salary as set forth herein. Section 2. Acknowledgement. By executing and agreeing to this Amendment, Executive hereby acknowledges and agrees that the change in title reflected in Section 1 above, and the resultant change in Executive's duties and responsibilities, which changes are effective as of the Amendment Effective Date, do not constitute a "Good Reason" for Executive's resignation under Sections 4(a) 4(b) and 25(c) of the Agreement, and do not entitle Executive to the payments and benefits set forth in Section 4(b) 4 of the Agreement. Section 3. Continuation of Agreement. Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected. Section 4. Governing Law. This Amendment and the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of Wisconsin. New York. Section 5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall for all purposes be deemed an original, and all of which together shall constitute but one and the same instrument. View More
Amendment to the Agreement. Notwithstanding anything in the Agreement to the contrary, as of the Amendment Effective Date, all references in the Agreement to "Senior Vice President and Chief Brand "Chief Executive Officer" of the Bank are hereby amended and replaced with "Executive Vice President and Chief Operating Officer" – Strategic Planning" of the Bank. In addition to the change in Executive's title, Executive's Base Salary set forth in Section 3 of the Agreement shall become $220,000.00, effective as of the Amendmen...t Effective Date and all references therein to his Base Salary shall be read to mean the Base Salary as set forth herein. Section 2. Acknowledgement. By executing and agreeing to this Amendment, Executive hereby acknowledges and agrees that the change in title reflected in Section 1 above, and the resultant change in Executive's duties and responsibilities, which changes are effective as of the Amendment Effective Date, do not constitute a "Good Reason" for Executive's resignation under Sections 4(a) of the Agreement, and do not entitle Executive to the payments and benefits set forth in Section 4(b) of the Agreement. Section 3. Continuation of Agreement. Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected. Section 4. Governing Law. This Amendment and the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of Wisconsin. Section 5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall for all purposes be deemed an original, and all of which together shall constitute but one and the same instrument. View More
