Term and Duties. (a) Three Year Contract; Annual Renewal. The term of this Agreement will begin as of the Effective Date and shall continue thereafter for a period of three (3) years. Beginning on the first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the term of this Agreement shall be extended for a period of one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior t
...o such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, the disinterested members of the Board have explicitly reviewed and approved the extension and the results thereof shall be included in the minutes of the Board's meeting. On an annual basis prior to the deadline for the notice period referenced above, the Board shall conduct a performance review of the Executive for the purpose of determining whether to provide notice of non-renewal. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs. (b) Termination of Employment. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, Executive may serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties. (a)
Three Year Contract; Annual Renewal. The term of
Executive's employment under this Agreement
will begin shall commence as of the Effective Date and shall continue
thereafter for a period through June 30, 2017. Effective as of
three (3) years. Beginning on the first annual anniversary date of this Agreement, July 1, 2015, and
on continuing each
annual anniversary date July 1 thereafter, the term of this Agreement shall be
automatically extended
for a period of by one year
in addition to such ...that the then-remaining term; provided that (1) remaining term on such date of extension is three (3) years, unless the disinterested members of the board of directors of the Bank has (the "Board") elects not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that extend the term of this Agreement shall not be extended further; and (2) by giving written notice to Executive prior to such renewal date, automatic extension. The Board shall review the disinterested members Agreement and Executive's performance annually for purposes of the Board have explicitly reviewed and approved the extension determining whether to give Executive such notice and the rationale and results thereof shall be included in the minutes of the Board's meeting. On an annual basis prior to the deadline for the notice period referenced above, the The Board shall conduct a performance review of give notice to Executive as soon as possible after such review. (b) During the Executive for the purpose of determining whether to provide notice of non-renewal. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs. (b) Termination of Employment. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation period of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, absence, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, hereunder including activities and services related to the organization, operation and management of the Bank; Bank and participation in community and civic organizations; provided, however, that, with the approval of the Board, as evidenced by a resolution of such Board, from time to time, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the such Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. (c) Notwithstanding anything herein to the contrary, Executive's employment with the Bank may be terminated by the Bank or Executive shall provide during the Board term of Directors annually for its approval a list this Agreement, subject to the terms and conditions of organizations for which the Executive acts as a director or officer. this Agreement.
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Term and Duties. (a)
Three Year Contract; Eighteen-Month Contract with Annual Renewal. The term
("Term") of this Agreement
will begin shall commence as of the Effective Date and shall
continue thereafter for a period of three (3) years. Beginning on continue, initially, through December 31, 2022. On January 8, 2022 (for these purposes, referred to herein as the
first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the term of this Agreement shall be extended for a perio...d of one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, "Anniversary Date"), the disinterested members of the Board have explicitly reviewed and approved of Directors of the extension and Bank (the "Board") will meet to consider the results thereof renewal or nonrenewal of this Agreement. In connection with such consideration, the Compensation Committee of the Board, with input from the Bank's President, shall conduct a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement through July 8, 2023, which decision shall be included in the minutes of the Board's meeting. On an annual basis prior If the decision is not to the deadline for the notice period referenced above, renew this Agreement, then the Board shall conduct provide Executive with a performance review of the Executive for the purpose of determining whether to provide written notice of non-renewal. Reference herein to the term of non-renewal ("Non-Renewal Notice") that this Agreement shall refer terminate at the end of its then Term (i.e., December 31, 2022). Assuming the renewal of the Agreement on January 8, 2022, the Agreement shall have a Term ending July 8, 2023. Thereafter, each following January 8th, commencing January 8, 2023, the Board shall again perform a comprehensive performance evaluation to both such initial term and such extended terms. determine whether to again extend the agreement for twelve months beyond its' then Term. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then then, unless Executive has previously been informed that this Agreement shall not be renewed) the term of this Agreement shall be extended and shall terminate thirty-six (36) eighteen (18) months following the date on which the Change in Control occurs. 1 (b) Termination of Employment. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation his position as Senior Vice President and management of the Bank; Chief Credit Officer; provided, however, that, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties. (a)
Three Year Contract; Eighteen-Month Contract with Annual Renewal. The term
("Term") of this Agreement
will begin shall commence as of the Effective Date and shall
continue thereafter for a period of three (3) years. Beginning on continue, initially, through April 30, 2023. On January 8, 2022 (for these purposes, referred to herein as the
first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the term of this Agreement shall be extended for a period o...f one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, "Anniversary Date"), the disinterested members of the Board have explicitly reviewed and approved of Directors of the extension and Bank (the "Board") will meet to consider the results thereof renewal or nonrenewal of this Agreement. In connection with such consideration, the Board shall conduct a comprehensive performance evaluation of Executive (or review such performance evaluation conducted by the Compensation Committee of the Board) for purposes of determining whether to extend this Agreement through July 8, 2023, which decision shall be included in the minutes of the Board's meeting. On an annual basis prior If the decision of such disinterested members of the Board is not to the deadline for the notice period referenced above, renew this Agreement, then the Board shall conduct provide Executive with a performance review of the Executive for the purpose of determining whether to provide written notice of non-renewal. Reference herein to the term of non-renewal ("Non-Renewal Notice") that this Agreement shall refer terminate at the end of its then Term (i.e., April 30, 2023). Assuming the renewal of the Agreement on January 8, 2022, the Agreement shall have a Term ending July 8, 2023. Thereafter, each following January 8th, commencing January 8, 2023, the Board shall again perform a comprehensive performance evaluation to both such initial term and such extended terms. determine whether to again extend the agreement for twelve months beyond its' then Term. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then then, unless Executive has previously been informed that this Agreement shall not be renewed) the term of this Agreement shall be extended and shall terminate thirty-six (36) eighteen (18) months following the date on which the Change in Control occurs. (b) Termination of Employment. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation his position as Senior Vice President, Chief Financial Officer and management of the Bank; Treasurer; provided, however, that, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties. (a)
Three Year Contract; Term and Annual Renewal. The
initial term of this Agreement
will and the period of Executive's employment hereunder shall begin as of the Effective Date and shall continue
thereafter for
a period of three (3)
years. Beginning on years thereafter. Commencing as of September 1, 2018, and continuing as of each September 1 thereafter (the "Renewal Date"), this Agreement shall renew for an additional year such that the
first annual anniversary date remaining term shall again ...be three (3) years unless written notice of non-renewal ("Non-Renewal Notice") is provided to Executive at least 30 days prior to the Renewal Date, in which event this Agreement, and on each annual anniversary date thereafter, Agreement shall terminate at the end of the term of this the Agreement shall be extended (including any previous extensions of the term). Prior to each notice period for a period of one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, non-renewal, the disinterested members of the Board have explicitly reviewed of Trustees of the Bank (the "Board of Trustees," the term "Board of Trustees shall also include the term "Board of Directors," if applicable at any time during the term of this Agreement) will conduct an evaluation and approved review of Executive for purposes which include determining whether to take action regarding non-renewal of the extension Agreement, and the results thereof shall be included in the minutes of the Board's meeting. On an annual basis prior to the deadline for the notice period referenced above, meeting of the Board shall conduct a performance review of the Executive for the purpose of determining whether to provide notice of non-renewal. Trustees. Reference herein to the term of this Agreement shall refer to both such the initial term and such any extended terms. (b) Change in Control. Notwithstanding the foregoing, in the event that the Bank or the Company or the Bank has entered into an agreement to effect a transaction which that would be considered a Change in Control as defined below, then under Section 5 of this Agreement, the term of this Agreement shall be extended and shall terminate thirty-six (36) months automatically for three (3) years following the effective date on which of the Change in Control occurs. (b) Termination Control. (c) Membership on Other Boards of Employment. Notwithstanding anything contained in this Agreement Directors or Organizations. During the period of her employment hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, Executive will devote all of her business time, attention, skill and efforts to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term faithful performance of her duties under this Agreement, including activities and duties related to the Executive Position. Notwithstanding the preceding sentence, subject to the terms approval of the Board of Trustees, Executive may serve as a member of the board of directors of business, community and conditions charitable organizations, provided that in each case the service shall not materially interfere with the performance of her duties under this Agreement. (c) Agreement, adversely affect the reputation of the Bank or any affiliates of the Bank (as determined by the Board of Trustees), or present any conflict of interest. (d) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, Executive may serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties.
(a) Three Year Contract; Annual Renewal. The Employers hereby employ Executive, and Executive hereby accepts employment with the Employers under the terms of this Agreement, effective as of January 29, 2021 (the "Effective Date"). The term of this Agreement will begin as of the Effective Date and
will continue for thirty-six (36) full calendar months thereafter (the "Term"), unless further extended by mutual consent of the Employers and Executive or sooner terminated as herein provided. In the e...vent that the Term expires without extension by mutual consent of the Employers and Executive and Executive's employment continues thereafter, such continuing employment shall continue thereafter for a period of three (3) years. Beginning be on the first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the term of this an at will basis. This Agreement shall be extended for a period of one year in addition to the then-remaining term; provided that (1) the Bank null and void and terminated if Executive has not given notice to commenced such employment within five business days following the Executive Effective Date. (b) Change in writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, the disinterested members of the Board have explicitly reviewed and approved the extension and the results thereof shall be included in the minutes of the Board's meeting. On an annual basis prior to the deadline for the notice period referenced above, the Board shall conduct a performance review of the Executive for the purpose of determining whether to provide notice of non-renewal. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms. Control. Notwithstanding the foregoing, in the event that the Company Bank or the Bank Company has entered into an agreement to effect a transaction which that would be considered a Change in Control as defined below, under Section 5 hereof, then the term Term of this Agreement shall will be extended and shall terminate thirty-six (36) automatically for twenty-four (24) full calendar months following the date on which the Change in Control occurs. (b) Termination of Employment. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. Boards or Organizations. During the term period of this Agreement, his employment hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, absence, Executive shall will devote substantially all of his business time, attention, skill, skill and efforts to the faithful performance of his duties hereunder, under this Agreement, including activities and services duties related to the organization, operation and management Executive Position. Notwithstanding the preceding sentence, subject to the approval of the Bank; provided, however, that, Board, Executive may serve, on serve as a member of the boards board of directors of, of business, community and hold charitable organizations, provided that in each case such service does not materially interfere with the performance of his duties under this Agreement, adversely affect the reputation of the Bank or any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge affiliates of the board) Bank, or which, in the Board's judgment, will not present any conflict of interest with the Bank, interest. (d) Continued Employment Following Expiration of Term. Nothing in this Agreement mandates or materially affect the performance prohibits a continuation of Executive's duties pursuant employment following the expiration of the Term of this Agreement, upon the terms and conditions as the Bank and Executive may mutually agree. For purposes of clarity, following the expiration of the Term of this Agreement, Executive shall not be entitled to any payments or benefits under this Agreement unless Executive became entitled to such payments or benefits prior to the expiration of the Term of this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties. (a)
Three Year Contract; Term and Annual Renewal. The
initial term of this Agreement
will and the period of Executive's employment hereunder shall begin as of the Effective Date and shall continue
thereafter for
a period of three (3)
years. Beginning on years thereafter. Commencing as of September 1, 2018, and continuing as of each September 1 thereafter (the "Renewal Date"), this Agreement shall renew for an additional year such that the
first annual anniversary date remaining term shall again ...be three (3) years unless written notice of non-renewal ("Non-Renewal Notice") is provided to Executive at least 30 days prior to the Renewal Date, in which event this Agreement, and on each annual anniversary date thereafter, Agreement shall terminate at the end of the term of this the Agreement shall be extended (including any previous extensions of the term). Prior to each notice period for a period of one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, non-renewal, the disinterested members of the Board have explicitly reviewed of Trustees of the Bank (the "Board of Trustees," the term "Board of Trustees shall also include the term "Board of Directors," if applicable at any time during the term of this Agreement) will conduct an evaluation and approved review of Executive for purposes which include determining whether to take action regarding non-renewal of the extension Agreement, and the results thereof shall be included in the minutes of the Board's meeting. On an annual basis prior to the deadline for the notice period referenced above, meeting of the Board shall conduct a performance review of the Executive for the purpose of determining whether to provide notice of non-renewal. Trustees. Reference herein to the term of this Agreement shall refer to both such the initial term and such any extended terms. (b) Change in Control. Notwithstanding the foregoing, in the event that the Bank or the Company or the Bank has entered into an agreement to effect a transaction which that would be considered a Change in Control as defined below, then under Section 5 of this Agreement, the term of this Agreement shall be extended and shall terminate thirty-six (36) months automatically for three (3) years following the effective date on which of the Change in Control occurs. (b) Termination Control. (c) Membership on Other Boards of Employment. Notwithstanding anything contained in this Agreement Directors or Organizations. During the period of his employment hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, Executive will devote all of his business time, attention, skill and efforts to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term faithful performance of his duties under this Agreement, including activities and duties related to the Executive Position. Notwithstanding the preceding sentence, subject to the terms approval of the Board of Trustees, Executive may serve as a member of the board of directors of business, community and conditions charitable organizations, provided that in each case the service shall not materially interfere with the performance of his duties under this Agreement. (c) Agreement, adversely affect the reputation of the Bank or any affiliates of the Bank (as determined by the Board of Trustees), or present any conflict of interest. (d) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, Executive may serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties. (a)
Three Year Contract; Annual Renewal. Term. The term of this Agreement will begin as of the Effective Date and shall continue thereafter for a period of three (3) years.
Beginning on Prior to the
first second annual anniversary date of this Agreement,
and on each annual anniversary date thereafter, the Board of Directors of the Association (the "Board") agrees to consider extending the term of this
Agreement Agreement. (b) Annual Performance Evaluation. On a calendar year basis, the Associati...on, acting through the Board or a committee thereof, shall be extended for a period of one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, the disinterested members conduct an annual performance evaluation of the Board have explicitly reviewed and approved the extension and Executive, the results thereof of which shall be included in the minutes of the Board's meeting. On an annual basis prior Board or committee meeting and communicated to the deadline for the notice period referenced above, the Board shall conduct a performance review of the Executive for the purpose of determining whether to provide notice of non-renewal. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs. (b) Executive. (c) Termination of Employment. Agreement. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank Association may terminate Executive's employment with the Bank Association at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. (c) (d) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank Association and Executive may mutually agree. (d) (e) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; Association; provided, however, that, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, Association, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties. (a)
Three Year Contract; Annual Renewal. The term of this Agreement
will and the period of Executive's employment hereunder shall begin as of the Effective Date and
shall shall, initially, continue
thereafter for a period through the second anniversary of
three (3) years. Beginning the Effective Date. Commencing on
the first annual anniversary date of this Agreement, January 1, 2021 (the "Renewal Date") and
continuing on each
annual anniversary date thereafter, the term of January 1st thereafter... (each a "Renewal Date"), this Agreement shall be extended renew for a period of one an additional year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the remaining term of shall be twenty-four (24) months, provided, however, that in order for this Agreement shall not be extended further; and (2) prior to such renewal date, renew, the disinterested members of the Board have explicitly reviewed of Directors of the Company (the "Board") must take the following actions within the time frames set forth below prior to each Renewal Date: (i) at least sixty (60) days prior to the Renewal Date, conduct a comprehensive performance evaluation and approved review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the extension and the results thereof renewal or non-renewal of this Agreement, which such decision shall be included in the minutes of the Board's meeting. On an annual basis prior If the decision of such disinterested members of the Board is not to the deadline for the notice period referenced above, renew this Agreement, then the Board shall conduct provide Executive with a performance review written notice of non-renewal ("Non-Renewal Notice") at least thirty (30) days and not more than sixty (60) days prior to any Renewal Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Renewal Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Renewal Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive for of its determination regarding the purpose renewal or non-renewal of determining whether this Agreement, the Executive may request, in writing, the results of the Board's action (or non-action) and the Board shall, within thirty (30) days of the receipt of such request, provide a written response to provide notice of non-renewal. Executive. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms. (b) Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, under Section 5 hereof while the Executive is employed pursuant to this Agreement, then the term of this Agreement shall automatically be extended and shall terminate thirty-six (36) for twenty-four (24) months following the date on which the Change in Control occurs. (b) Termination (c) During the period of Employment. Notwithstanding anything contained in this Agreement his employment hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, Executive will devote all of his business time, attention, skill and efforts to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term faithful performance of his duties under this Agreement, including activities and duties related to the Executive Position. Notwithstanding the preceding sentence, subject to the terms approval of the Board, Executive may serve as a member of the board of directors of business, community and conditions charitable organizations, provided that in each case such service shall not materially interfere with the performance of his duties under this Agreement. (c) Continued Employment Following Expiration Agreement, adversely affect the reputation of Term. the Company or any other affiliates of the Company, or present any conflict of interest. (d) Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, Executive may serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties. (a)
Three Year Contract; Annual Renewal. The term of this Agreement
will and the period of Executive's employment hereunder shall begin as of the Effective Date and
shall shall, initially, continue
thereafter for a period through the second anniversary of
three (3) years. Beginning the Effective Date. Commencing on
the first annual anniversary date of this Agreement, January 1, 2021 (the "Renewal Date") and
continuing on each
annual anniversary date thereafter, the term of January 1st thereafter... (each a "Renewal Date"), this Agreement shall be extended renew for a period of one an additional year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the remaining term of shall be twenty-four (24) months, provided, however, that in order for this Agreement shall not be extended further; and (2) prior to such renewal date, renew, the disinterested members of the Board have explicitly reviewed of Directors of the Bank (the "Board") must take the following actions within the time frames set forth below prior to each Renewal Date: (i) at least sixty (60) days prior to the Renewal Date, conduct a comprehensive performance evaluation and approved review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the extension and the results thereof renewal or non-renewal of this Agreement, which such decision shall be included in the minutes of the Board's meeting. On an annual basis prior If the decision of such disinterested members of the Board is not to the deadline for the notice period referenced above, renew this Agreement, then the Board shall conduct provide Executive with a performance review written notice of non-renewal ("Non-Renewal Notice") at least thirty (30) days and not more than sixty (60) days prior to any Renewal Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Renewal Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Renewal Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive for of its determination regarding the purpose renewal or non-renewal of determining whether this Agreement, the Executive may request, in writing, the results of the Board's action (or non-action) and the Board shall, within thirty (30) days of the receipt of such request, provide a written response to provide notice of non-renewal. Executive. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms. (b) Notwithstanding the foregoing, in the event that the Company Bank or the Bank Company has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, under Section 5 hereof while the Executive is employed pursuant to this Agreement, then the term of this Agreement shall automatically be extended and shall terminate thirty-six (36) for twenty-four (24) months following the date on which the Change in Control occurs. (b) Termination (c) During the period of Employment. Notwithstanding anything contained in this Agreement his employment hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, Executive will devote all of his business time, attention, skill and efforts to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term faithful performance of his duties under this Agreement, including activities and duties related to the Executive Position. Notwithstanding the preceding sentence, subject to the terms approval of the Board, Executive may serve as a member of the board of directors of business, community and conditions charitable organizations, provided that in each case such service shall not materially interfere with the performance of his duties under this Agreement. (c) Continued Employment Following Expiration Agreement, adversely affect the reputation of Term. the Bank or any other affiliates of the Bank, or present any conflict of interest. (d) Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, Executive may serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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Term and Duties.
(a) Three Year Contract; Annual Renewal. The
initial term of this Agreement will begin as of the Effective Date
(as defined in Section 18 below) and
will continue for twenty-four (24) full calendar months after each "Anniversary Date," which shall
continue thereafter for a period be July 1st of
three (3) years. Beginning each year. Commencing on the first
annual anniversary date of this Agreement, Anniversary Date following the Effective Date and
continuing on each
annual anniversary date Annive...rsary Date thereafter, the term of this Agreement shall be extended will renew for a period of one an additional year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the remaining term of will be twenty-four (24) months; provided, however, that in order for this Agreement shall not be extended further; and (2) prior to such renewal date, renew, the disinterested members of the Board have explicitly reviewed of Directors of the Bank (the "Board") must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and approved review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the extension renewal of this Agreement and the results thereof shall be included include such decision in the minutes of the Board's meeting. On an annual basis prior to If the deadline for the notice period referenced above, disinterested members of the Board shall conduct decide not to renew this Agreement, then the Board will provide Executive with a performance review written notice of non-renewal ("Non-Renewal Notice") no later than five business days after such action is taken, in which event this Agreement will terminate twelve (12) months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the purpose Board will respond to Executive within 30 days of determining whether to provide notice the receipt of non-renewal. such request. Reference herein to the term of this Agreement shall will refer to both such initial term and such extended terms. 1 (b) Change in Control. Notwithstanding the foregoing, in the event that the Company Bank or the Bank Company has entered into an agreement to effect a transaction which that would be considered a Change in Control as defined below, under Section 5 hereof, then the term of this Agreement shall will be extended and shall terminate thirty-six (36) automatically for twenty-four (24) months following the date on which the Change in Control occurs. (b) Termination (c) Membership on Other Boards or Organizations. During the period of Employment. Notwithstanding anything contained in this Agreement his employment hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, Executive will devote all of his business time, attention, skill and efforts to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term faithful performance of his duties under this Agreement, including activities and duties related to the Executive Position. Notwithstanding the preceding sentence, subject to the terms approval of the Board, Executive may serve as a member of the board of directors of business, community and conditions charitable organizations, provided that in each case such service does not materially interfere with the performance of his duties under this Agreement. (c) Agreement, adversely affect the reputation of the Bank or any other affiliates of the Bank, or present any conflict of interest. (d) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate mandates or prohibit prohibits a continuation of Executive's employment following the expiration of the term of this Agreement, upon such the terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, Executive may serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer.
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