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 One 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 one year. Commencing on
the first annual anniversary date of this Agreement, January 16, 2022 and on each
annual anniversary date thereafter, January 16 thereafter (each, a "Renewal Date"), the term of 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 this Agreement shall not be extended further; and (2) prior to is one year from such renewal date, Renewal Date; provided, however, that the disinterested members of the Board have explicitly reviewed and approved the extension and the results thereof shall be included in the minutes of Directors of the Board's meeting. On an annual basis Bank (the "Board") must take the following actions within the time frames set forth below prior to each Renewal Date: (i) at least thirty (30) days prior to the deadline for the notice period referenced above, the Board shall Renewal Date, conduct or review a comprehensive performance review evaluation of the Executive for the purpose purposes of determining whether to not extend this Agreement; and (ii) if the decision of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal. Reference herein non-renewal ("Non-Renewal Notice") prior to the term of any Renewal Date, such that this Agreement shall refer to both such initial term and such extended terms. terminate at the end of the remaining 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, on the date of such agreement, the term of this Agreement shall be extended and shall terminate thirty-six (36) months one year following the date on which the Change in Control occurs. 1 (b) Termination of Employment. Agreement. 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 the Executive's business time, attention, skill, and efforts to the faithful performance of his the Executive's duties hereunder, including activities and services related to the organization, operation and management of the Bank; 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 Two 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) two (2) 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 Association 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 of the Board of Directors of the Association (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 purposes 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. 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) 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) 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 her business time, attention, skill, and efforts to the faithful performance of his her 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 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 Commencing on the first
annual anniversary date of this
Agreement, Agreement (the "Anniversary Date") and
continuing on each
annual anniversary date Anniversary Date thereafter, the term of this Agreement shall
be extended renew for
a period of one an additional year
in addition to the then-remai...ning 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 this Agreement shall not be extended further; and (2) prior is always three (3) years; provided, however, that in order for this Agreement 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 thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and approved (ii) affirmatively approve the extension and the results thereof renewal or non-renewal of this Agreement, 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 non-renewal ("Non-Renewal Notice") 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 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 approximately twenty (20) hours per week, to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; Bank. During this period and for the time specified he will devote his business time, attention, skill and efforts to the performance of his duties as the Chief Executive 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 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 Commencing on the first
annual anniversary date of this
Agreement, Agreement (the "Anniversary Date") and
continuing on each
annual anniversary date Anniversary Date thereafter, the term of this Agreement shall
be extended renew for
a period of one an additional year
in addition to the then-remai...ning 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 this Agreement shall not be extended further; and (2) prior is always three (3) years; provided, however, that in order for this Agreement to such renewal date, renew, the disinterested members (other than Executive and his affiliates) of the Board have explicitly reviewed of Directors of the Bank (the "Board") shall use best efforts to take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and approved (ii) affirmatively approve the extension and the results thereof renewal or non-renewal of this Agreement, 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 a performance review of the Executive for the purpose of determining whether use best efforts to provide Executive with a written notice of non-renewal. Reference herein non-renewal ("Non-Renewal Notice") prior to the term of any Anniversary Date, such that this Agreement shall refer terminate at the end of twenty-four (24) months following such Anniversary Date. If the Board fails to both conduct the comprehensive performance evaluation or performs such initial term comprehensive evaluation and inadvertently fails to provide such extended terms. notice of nonrenewal, this Agreement shall not renew. 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, 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; 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 Association 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 of the Board of Directors of the Association (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 purposes 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. 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) 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) 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 her business time, attention, skill, and efforts to the faithful performance of his her 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 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 Association 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 of the Board of Directors of the Association (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 purposes 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. 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) 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) 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) (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 Commencing on the first
annual anniversary date of this
Agreement, Agreement (the "Anniversary Date") and
continuing on each
annual anniversary date Anniversary Date thereafter, the term of this Agreement shall
be extended renew for
a period of one an additional year
in addition to the then-remaining te...rm; 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 this Agreement shall not be extended further; and is always between two (2) prior to such renewal date, three (3) years; provided, however, that in order for this Agreement to 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 thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and approved (ii) affirmatively approve the extension and the results thereof renewal or non-renewal of this Agreement, 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 non-renewal ("Non-Renewal Notice") prior to the term of any Anniversary Date, such that this Agreement shall refer terminate at the end of twenty-four (24) months following such Anniversary Date. For avoidance of doubt, any extension to both such initial term and such extended terms. the Term will become the "Term" for purposes of this Agreement. 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. Agreement. 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, 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; 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 Commencing on the first
annual anniversary date of this
Agreement, Agreement (the "Anniversary Date") and
continuing on each
annual anniversary date Anniversary Date thereafter, the term of 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 this Agreement shall not be extended further; and is always between two (2) prior to such renewal date, three (3) years; provided, however, that in order for this Agreement to 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 thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and approved (ii) affirmatively approve the extension and the results thereof renewal or non-renewal of this Agreement, 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 non-renewal ("Non-Renewal Notice") prior to the term of any Anniversary Date, such that this Agreement shall refer terminate at the end of twenty-four (24) months following such Anniversary Date. For avoidance of doubt, any extension to both such initial term and such extended terms. the Term will become the "Term" for purposes of this Agreement. 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. Agreement. 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, 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; 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 Commencing on the first
annual anniversary date of this
Agreement, Agreement (the "Anniversary Date") and
continuing on each
annual anniversary date Anniversary Date thereafter, the term of 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 this Agreement shall not be extended further; and (2) prior is always three (3) years; provided, however, that in order for this Agreement to such renewal date, renew, the disinterested members of the Board have explicitly reviewed must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and approved (ii) affirmatively approve the extension and the results thereof renewal or non-renewal of this Agreement, 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 non-renewal ("Non-Renewal Notice") 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 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. Agreement. 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, 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 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 Commencing on the first
annual anniversary date of this
Agreement, Agreement (the "Anniversary Date") and
continuing on each
annual anniversary date Anniversary Date thereafter, the term of this Agreement shall
be extended renew for
a period of one an additional year
in addition to the then-remai...ning 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 this Agreement shall not be extended further; and (2) prior is always three (3) years; provided, however, that in order for this Agreement 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 thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and approved (ii) affirmatively approve the extension and the results thereof renewal or non-renewal of this Agreement, 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 non-renewal ("Non-Renewal Notice") 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 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, 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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