This excerpt taken from the CFNL 10-K filed Mar 17, 2008.
This excerpt taken from the CFNL 10-Q filed Nov 8, 2007.
Item 5. Other Information
(a) On November 7, 2007, we entered into an Executive Employment Agreement with Kendal E. Carson, who serves as our President and is Senior Executive Vice President of Cardinal Bank. The initial term of his agreement, which is retroactively effective as of March 6, 2006, is three years commencing on that date, and the agreement automatically renews for successive one year periods up until March 6, 2011. The agreement provides for an annual base salary, and he is eligible for an annual merit increase, performance bonus and stock option grants on the same basis as similarly situated executive officers of the Company. Mr. Carson may also receive severance payments in the event of a change in control of us or a termination of his employment by us for reasons other than cause, as provided in the agreement. The agreement contains non-competition and non-solicitation covenants. A copy of Mr. Carsons employment agreement is attached as Exhibit 10.1 to this Form 10-Q and is incorporated by reference into this Item 5.
Mr. Carson also participates in our supplemental executive retirement plan, effective as of June 5, 2007. Upon retirement at age 65 and based on his period of service with us, Mr. Carson will be entitled to an annual retirement benefit as provided in the agreement. The benefits in the plan vest incrementally based on his years of service to us. A copy of the Supplemental Executive Retirement Plan that we entered into with Mr. Carson on November 7, 2007 is attached as Exhibit 10.2 to this Form 10-Q and is incorporated by reference into this Item 5.
This excerpt taken from the CFNL 8-K filed Apr 27, 2006.
Other Information. The Deferral Plans may be terminated or amended at any time by the Board of Directors, effective as of the date specified, provided that no such termination or amendment shall decrease a participants deferral benefit accrued prior to the date of the termination or amendment.
This excerpt taken from the CFNL DEF 14A filed Mar 21, 2006.
This excerpt taken from the CFNL 10-Q filed Aug 9, 2005.
Item 5. Other Information
This excerpt taken from the CFNL DEF 14A filed Mar 24, 2005.
No grants or awards may be issued under the Equity Plan after February 25, 2014. The Board of Directors may amend or terminate the Equity Plan at any time, provided that no amendment will become effective until shareholder approval is obtained if the amendment increases the number of shares of Common Stock that may be issued under the Plan or the amendment changes the class of individuals eligible to become participants, or if such approval is required under any applicable law, rule or regulation.
EXCERPTS ON THIS PAGE: