Term Contract Clauses (29,524)

Term. For purposes of this Agreement, the "Effective Date" shall be July 1, 2020, or such other date as the parties may agree. The initial term of this Agreement shall begin on the Effective Date, and shall continue for twenty-four (24) months; provided, however, that beginning on the first anniversary of the Effective Date, and on each anniversary of the Effective Date thereafter, the term of this Agreement shall be extended by twelve (12) months, unless the disinterested members of the boards of... directors of the Employer (the "Bank Board" and "Bancorp Board", respectively) or the Executive shall have provided notice to the other party at least sixty (60) days before such date that the term shall not be extended. The period during which the Executive is employed by the William Penn Entities pursuant to this Agreement, including all extensions thereof, is hereinafter referred to as the "Term." Notwithstanding the preceding provisions of this Section, if a Change of Control occurs during the Term, the Term shall not end before the first anniversary of the Change of Control; provided, however, this sentence shall apply only to the first Change of Control to occur while this Agreement is in effect. The Chief Executive Officer of the Bank ("CEO"), in consultation with the Personnel Committee of the Bank Board, shall conduct a comprehensive performance evaluation and review of the Executive annually. View More

Term. (a) Initial Term. Executive will begin employment as the Chief Executive Officer of the Company under the terms of this Agreement starting on the date the Company's Registration Statement on Form S-1 is declared effective by the Securities and Exchange Commission (the "Commencement Date"). Executive will be employed under this Agreement until one year after the Commencement Date (the "Initial Term"). The term is automatically extended under Section 2(b) unless Executive's employment is... terminated earlier pursuant to Section 7. (b) Renewal Term. The term of this Agreement and the Executive's employment renew automatically for successive one-year periods (each, a "Renewal Term"), unless at least 60 days before the end of the Initial Term or any Renewal Term, either party gives notice to the other party that this Employment Agreement will terminate at the end of the Initial Term or any Renewal Term (the Initial Term, together with any Renewal Terms, the "Term"). Notwithstanding the above, the Executive's employment is subject to earlier termination under Section 7. Except as otherwise agreed by Executive, if the Company timely elects not to renew this Agreement at the end of the Initial Term or any Renewal Term, the Executive's termination of employment will be characterized as a termination without Cause under Section 7(b). 1 3. Location. The location of Executive's principal place of employment will be at the Company's offices; but the Executive understands that he may be required to travel and perform services outside of this area as reasonably required to properly perform his duties under this Agreement. View More

Term. The term of employment of the Executive pursuant to this Agreement shall be for a term of three (3) years commencing as of the date on which the IPO becomes effective (the "Effective Date"), and shall be automatically extended thereafter for successive terms of three years each, unless any party hereto elects not to extend this Agreement by giving written notice to the other parties at least sixty (60) days prior to the expiration of the original or any extension term that this Agreement is not... to be extended. Notwithstanding the foregoing, the Executive's employment hereunder may be earlier terminated in accordance with Section 5 hereof. The term of this Agreement, as from time to time extended or renewed, is hereafter referred to as the "Employment Term." For the avoidance of doubt, if the IPO does not become effective by October 30, 2020, (i) this Agreement shall be null and void ab initio and of no force or effect, without any liability to any party hereto or to any other person, and (ii) the Original Employment Agreement shall continue to apply in full force and effect. View More

Term. The term of this Agreement shall commence on the date hereof (the "Effective Date") and continue until the third anniversary of the Effective Date (as it may be extended hereunder, the "Term"); provided, however, that the Term shall be automatically extended for one additional one (1) year upon each anniversary date of the Effective Date unless either the Board of Directors of the Employer, by a majority vote of the independent members of the Board, or the Employee, elects by written notice to... the other no less than ninety (90) days prior to any anniversary of the Effective Date, not to so extend the Term, in which case the Term shall then end on the second anniversary of the date such notice is given. View More

Term. This Agreement shall relate to the services of Employee commencing as of the Effective Date. This Agreement is terminable at-will; as such, this Agreement may be terminated by either party at any time, with or without Cause, subject to the terms and conditions set forth herein.

Term. For purposes of this Agreement, "Term" shall mean the original term (as defined in Section 2.1 below), if Renewal Term is initiated, then "Term" shall mean the renewal term period (as defined in Section 2.2, below). 2.2 Original Term: The Term of this Agreement shall commence on January 1, 2021 and expire on December 31, 2025, unless sooner terminated pursuant to the terms and provisions herein stated. 2.3 Renewal: At any time prior to the expiration of the Original Term, as stated above,... American Rebel and Ross may, by mutual written agreement, extend Ross' employment under the terms of this Agreement for such additional periods as they may agree. View More

Term. For purposes of this Agreement, the "Effective Date" shall be February 18, 2021 or such other date as the parties may agree. The initial term of this Agreement shall begin on the Effective Date, and shall continue for thirty-six (36) months; provided, however, that beginning on the first anniversary of the Effective Date, and on each anniversary of the Effective Date thereafter, the term of this Agreement shall be extended by twelve (12) months, unless the disinterested members of the boards of... directors of the Company and the Bank (the "Company Board" and "Bank Board", respectively) or the Executive shall have provided notice to the other party at least sixty (60) days before such date that the term shall not be extended. The period during which the Executive is employed by the Company and the Bank pursuant to this Agreement, including all extensions thereof, is hereinafter referred to as the "Term." Notwithstanding the preceding provisions of this Section, if a Change of Control occurs during the Term, the Term shall not end before the first anniversary of the Change of Control; provided, however, this sentence shall apply only to the first Change of Control to occur while this Agreement is in effect. The Bank Board shall conduct a comprehensive performance evaluation and review of the Executive annually for purposes of determining whether to extend the Agreement, and the rationale and results thereof shall be included in the minutes of the meeting of the Bank Board. 1 2. Position and Duties. At all times during the Term, the Executive shall (i) serve as Chairman and Chief Executive Officer of the Company and the Bank and, in such capacities, shall perform such duties and have such responsibilities as is typical for such positions, as well as any other reasonable duties as may be assigned to him from time to time, and (ii) diligently and conscientiously devote substantially all of his business time, energy, and ability to his duties and the business of the Company and the Bank and will not engage in any other business, profession, or occupation for compensation or otherwise which would conflict or materially interfere with the performance of such services either directly or indirectly without the prior written consent of the Bank Board, and (iii) comply with all directions from the Company Board and the Bank Board (other than directions that would require an illegal or unethical act or omission) and all applicable policies and regulations of the Company and the Bank. Executive shall report directly to the Company Board and Bank Board. Notwithstanding the foregoing, the Executive will be permitted to (a) with the prior written consent of the Bank Board (not to be unreasonably withheld) act or serve as a director, trustee, committee member, or principal of any type of business, civic or charitable organization as long as such activities are disclosed in writing to the Bank Board, and (b) purchase or own less than two percent (2%) of the publicly traded securities of any entity which has the potential to be a competitor of the Company or the Bank or an unlimited ownership interest in any entity which is not similar to and does not have the potential to compete with the Company or the Bank; provided that, such ownership represents a passive investment and that the Executive is not a controlling person of, or a member of a group that controls, such entity; and provided further that, the activities described in clauses (a) and (b), in each case and in the aggregate, do not materially interfere with the performance of the Executive's material duties and responsibilities as provided hereunder. The Executive has disclosed all such business, civic, and charitable organizations for which he serves as of the Effective Date, and it is hereby acknowledged that, as of the Effective Date, the same do not currently conflict with, and are not expected to interfere with, the Executive's duties hereunder. The Executive is the most senior executive officer of the Company and the Bank. The Executive's duties for the Company and the Bank include responsibility for managing the business, operations, and affairs of the Company and the Bank, including the implementation of strategic goals and objectives, subject to supervision and oversight by the Bank Board and the Company Board or the committee of either such Board authorized to act on such Board's behalf. For purposes of this Agreement, all references to either the Company Board or the Bank Board shall be deemed to include references to all such committees. The Executive shall be responsible overall for the conduct of the business of the Company and the Bank. View More

Term. The Term (as defined below) of this Agreement is effective as of the Original Effective Date and will continue through the earlier of one year from the Original Effective Date (the "Initial Term") or (ii) the date this Agreement otherwise terminates pursuant to Section 6 or Section 16 below; provided, however, that, at the end of the Initial Term, if this Agreement has not been previously terminated pursuant to Section 6 or Section 16 below, this Agreement shall be automatically extended for a... one-year term (a "Renewal Term"), commencing at the end of the Initial Term, unless either party gives written notice of non-renewal no later than sixty (60) days prior to the end of the Initial Term. This Agreement shall continue to be further extended for an additional one-year term at the end of each Renewal Term, unless either party gives written notice of non-renewal no later than sixty (60) days prior to the end of the applicable Renewal Term. During the Initial Term or any Renewal Term, this Agreement may be terminated at any time pursuant to Section 6 or Section 16 below. The Term of this Agreement, including all Renewal Terms, if any, is referred to herein as the "Term." View More

Term. This Agreement shall commence on March 24, 2021 and shall terminate on March 31, 2024 (the "Initial Termination Date") unless sooner terminated in accordance with Section 6 hereof or unless renewed as hereinafter provided (such period of employment together with any extension thereto hereinafter being called the "Employment Period"). This Agreement shall be automatically renewed for successive three (3) year periods after the initial Termination Date unless written notice of refusal to renew is... given by one party to the other at least 180 days prior to the Initial Termination Date or the expiration date of any renewal period. In the event of a change in control (CIC) not triggered by a section 3(c) acquisition award, the term of this agreement shall be extended for three years on the date of CIC. View More

Term. Executive's employment with the Company Group under the terms and conditions of this Agreement shall continue as of the Effective Date and shall continue until such time as Executive's employment is terminated in accordance with the terms and conditions of Section 5 of this Agreement (the "Term"). Notwithstanding any provision of this Agreement to the contrary, Executive shall be employed on an "at-will" basis and Executive's employment may be terminated by either Party at any time.