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
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. (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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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 thirty-six (36) 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 Anniver...sary 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 thirty-six (36) 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 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 twenty-four (24) 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. (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 automatically for thirty-six (36) 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 Company or any other affiliates of the Company, 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 Company 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 continue
thereafter for
a period of three (3) years. Beginning thirty-six (36) full calendar months thereafter. Commencing on the first
annual anniversary date
of this Agreement, following the Effective Date and
continuing on each
annual anniversary date
thereafter, the term of thereafter (the "Anniversary Date"), this Agreemen
...t 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 thirty-six (36) 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) at least sixty (60) days prior to the Anniversary 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 Anniversary Date, such that this Agreement shall terminate at the end of thirty-six (36) months following such 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 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, then the term of this Agreement shall automatically be extended and shall terminate for thirty-six (36) 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
and the period of Executive's employment hereunder will begin as of the Effective Date
(as defined in Section 18 below) and
will continue for 36 full calendar months after each "Anniversary Date," which shall
continue thereafter for a period be May 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 Anniversary 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 36 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 24 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. (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 36 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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Term and Duties.
(a) Three Year Contract; Annual Renewal. The
initial term of this Agreement will begin as of the Effective Date and
will continue for thirty-six (36) 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 Anniversary Date thereafter,
the term of...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 thirty-six (36) 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) review of Executive for purposes of determining whether to extend this Agreement; and approved (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 twenty-four (24) 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. (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 automatically for thirty-six (36) 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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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 thirty-six (36) 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 Anniver...sary 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 thirty-six (36) 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 twenty-four (24) 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. (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 automatically for thirty-six (36) 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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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 continue
thereafter for
a period of three (3) years. Beginning thirty-six (36) full calendar months thereafter. Commencing on the first
annual anniversary of the Effective Date and continuing on each anniversary date
of this Agreement, and on each annual anniversary date thereafter, the term of thereafter (the "Anniversary 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 thirty-six (36) 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 prior to each non-renewal notice period (as described in the next sentence): (i) at least sixty (60) days prior to the Anniversary 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 of the Executive for the purpose of determining whether to provide written notice of non-renewal. Reference herein non-renewal ("Non-Renewal Notice") at least thirty (30) days and not more than sixty (60) days prior to the term of any Anniversary Date, such that this Agreement shall refer to both terminate at the end of twenty-four (24) months following such initial term and such extended terms. Anniversary Date. Notwithstanding the foregoing, in the event that at any time prior to the Company Anniversary Date the Bank or the Bank Bank's stock holding company (hereinafter referred to as the "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, then the term of this Agreement shall be extended and shall terminate for thirty-six (36) months following the date on which the Change in Control occurs. (b) Termination 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. Agreement, adversely affect the reputation of the Bank or any other affiliates of the Bank, or present any conflict of interest. (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, agree 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. writing.
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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 through December 31, 2020. Commencing on
the first annual anniversary date of this Agreement, January 1, 2019 and
continuing on each
annual anniversary date thereafter, the term of January 1st thereafter (the "Anniversary Date"), this Agreement shal
...l renew for an additional year such that the remaining term shall be extended for a period three (3) years unless written notice of one year in addition non-renewal ("Non-Renewal Notice") is provided to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) 30 days prior to any such renewal date that the term of Anniversary Date, in which event this Agreement shall not be extended further; and (2) prior terminate at the end of 24 months following such Anniversary Date. Prior to such renewal date, each notice period for non-renewal, the disinterested members of the Board have explicitly reviewed of Directors of the Bank (the "Board") will conduct a comprehensive performance evaluation and approved review of Executive for purposes of 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, 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. (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 hereof, the term of this Agreement shall be extended and shall terminate thirty-six (36) months following automatically so that it is scheduled to expire no less than three (3) years beyond the effective date on which of the Change in Control occurs. (b) Termination Control, subject to extensions as set forth above. (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 shall 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 (as determined by the Board), 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 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 the first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the thirty-six (36) full calendar months. The term of this Agreement shall be extended for
one day each day so that a
period constant thirty-six (36) calendar month term shall remain in effect, until such... time as the Board or Executive elects not to extend the term of one year in addition to the then-remaining term; provided that (1) the Bank has not given Agreement by giving written notice to the Executive other party in writing at least ninety (90) days prior to such renewal date that accordance with the term terms 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 Agreement, 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 case the term of this Agreement shall be extended fixed and shall terminate thirty-six (36) months following end on the third anniversary of the date on which the Change in Control occurs. of such written notice. (b) Termination of Employment. Agreement. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank Employer may terminate Executive's employment with the Bank Employer 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 Employer 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; Employer; 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, Employer, 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. Contract. The 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 the first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the thirty-six (36) full calendar months. The term of this Agreement shall be extended for
one day each day so that a
period constant thirty-six (36) calendar month term shall remain in effect, ...until such time as the Board or Executive elects not to extend the term of one year in addition to the then-remaining term; provided that (1) the Bank has not given Agreement by giving written notice to the Executive other party in writing at least ninety (90) days prior to such renewal date that accordance with the term terms 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 Agreement, 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 case the term of this Agreement shall be extended fixed and shall terminate thirty-six (36) months following end on the third anniversary of the date on which the Change in Control occurs. of such written notice. (b) Termination of Employment. Agreement. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank Employer may terminate Executive's employment with the Bank Employer 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 Employer 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; Employer; 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, Employer, 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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