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Actionable news in CFNL: Cardinal Financial Corporation,

Departure of Directors or Certain

On March30, 2016, the Company amended the Employment Agreement, dated February12, 2002, between the Company and Christopher W. Bergstrom (as amended, the Agreement) in connection with his transition to President and Chief Executive Officer of the Company. Pursuant to the amendment to the Agreement (the Amendment), Mr.Bergstrom will receive an initial annual salary of $450,000.

In addition, the Amendment increases the amount of severance payments to which Mr.Bergstrom is entitled if his employment is terminated by the Company without cause or by Mr.Bergstrom with good reason (as those terms are defined in the Agreement) within 12 months following a change of control to 2.99 times his average compensation over the five-year period prior to such termination. The Ame ndment also provides for (i)the establishment of a Rabbi Trust to hold and...


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