(iv) Who receives products or services authorized by the Bank, the sale or provision of which results or resulted in compensation, commissions, or earnings for Executive with in two years prior to the date of the Executives termination.
(h) Person shall mean any individual, corporation, bank, credit union, general or limited partnership, limited liability company, joint venture, estate, trust, association, organization or other entity of any kind or nature.
(i) Territory shall mean, to the extent the Bank carries on business therein, (i) Thomas County, Georgia and its adjacent counties, Grady, Colquitt. Brooks, and Mitchell Counties, Georgia, (ii) Leon County, Florida and its adjacent counties, Gadsden, Wakulla, Jefferson and Liberty Counties, Florida, (iii) Chatham County, Georgia and its adjacent counties, Liberty, Bryan, and Effingham Counties, Georgia as well as the adjacent Hilton Head Island-Bluffton-Beaufort Metropolitan Statistical Area, (iv) other communities within a 75-mile distance of any branch or loan production office of the Bank, and (v) in the event that the Bank expands the geographic reach of its business to other counties during Executives employment, the definition of Territory shall expand to include such additional counties.
2. Employment. The Bank hereby employs Executive, Executive hereby accepts such employment, as Chief Executive Officer of the Bank with such duties and responsibilities as are customarily performed by persons acting in such capacities and as may be delegated from time to time to Executive by the Board upon and pursuant to the terms and conditions set forth in this Agreement.
3. Term and Duties.
(a) Term. The period of Executives employment with the Bank under this Agreement shall commence as of the Effective Date and shall continue fora period of three (3) years unless earlier terminated pursuant to this Agreement (the Initial Term). If the Agreement is in effect at the end of the Initial Term, the Term, as defined herein, shall be renewed automatically for successive twelve-month periods (each a Renewal Term) unless and until one Party gives written notice to the other of its or his intent not to extend this Agreement with such written notice to be given not less than ninety (90) days prior to the end of the Initial Term or any subsequent Renewal Term, as applicable. In the event such notice of non-renewal is properly given, this Agreement shall terminate at the end of the remaining Initial Term or Renewal Term then in effect, subject to earlier termination in connection with the termination of Executives employment pursuant to this Agreement. In the event that any Party provides timely notice of non-renewal of the Agreement, Executive shall terminate his employment with the Bank on expiration of the Term (the Initial Term and any subsequent Renewal Terms hereinafter referred to as the Term).
(b) Performance of Duties. During the Term, except for periods of illness, disability, reasonable vacation periods, and authorized leaves of absence, all subject to policies generally applicable to senior executives of the Bank, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties under this Agreement. Executive shall be eligible to participate as a member in community, civic, religious, or similar organizations, and may pursue personal investments, which in either event do not present any material conflict of interest with the Bank (with prior written approval by the Board during the Term), or unfavorably affect in any material respect the performance of Executives duties under this Agreement.
(c) Directorship. Executive shall be appointed to serve as a member of the Board beginning on the Effective Date and until the 2021 Annual Meeting of Shareholders of the Bank or