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AMENDMENT TO CHANGE IN CONTROL, CONFIDENTIALITY, AND NON-COMPETE AGREEMENT

Confidentiality Agreement

AMENDMENT TO CHANGE IN CONTROL, CONFIDENTIALITY, AND NON-COMPETE AGREEMENT | Document Parties: GREATER COMMUNITY BANCORP | Valley National Bancorp You are currently viewing:
This Confidentiality Agreement involves

GREATER COMMUNITY BANCORP | Valley National Bancorp

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Title: AMENDMENT TO CHANGE IN CONTROL, CONFIDENTIALITY, AND NON-COMPETE AGREEMENT
Date: 6/25/2008
Industry: Regional Banks     Sector: Financial

AMENDMENT TO CHANGE IN CONTROL, CONFIDENTIALITY, AND NON-COMPETE AGREEMENT, Parties: greater community bancorp , valley national bancorp
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Exhibit 10.6

AMENDMENT TO CHANGE IN CONTROL, CONFIDENTIALITY, AND NON-COMPETE AGREEMENT

This Amendment is made as of June 25, 2008 (the “Effective Date”) between Roger Tully (“Executive”), Greater Community Bank (the “Bank”), a New Jersey banking corporation, and Greater Community Bancorp (“GCB”), a New Jersey business corporation (hereinafter collectively referred to as “the Company”).

RECITALS

WHEREAS, Executive and the Company are parties to a Change in Control, Confidentiality, and Non-Compete Agreement (the “Agreement”) dated November 13, 2007; and

WHEREAS, the parties desire to amend the Agreement in order to comply with Internal Revenue Code Section 409A and the applicable federal regulations thereto;

WHEREAS, GCB has entered into an agreement and plan of merger with Valley National Bancorp ("Valley") dated March 19, 2008 pursuant to which GCB will merge into Valley (the "Merger"); and

WHEREAS, GCB and Valley wish to provide a payment to Employee upon the Merger in satisfaction of Bank's obligations under the Agreement.


 
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