Common use of Additional Compensation Payable Following Termination Without Cause or Termination with Good Reason Clause in Contracts

Additional Compensation Payable Following Termination Without Cause or Termination with Good Reason. (i) In addition to the compensation set forth in Section 4(g) above, Executive will receive the additional compensation and benefits set forth in this paragraph (h), if the following requirements are met: (A) Executive’s employment is terminated pursuant to Section 4(f) above (Termination Without Cause or Termination for Good Reason), including a termination following a Change in Control; and  (B) Executive executes a release of his claims against the Bank, the Company and any affiliate, and their officers, directors, successors and assigns (the “Release”), the form of which release is attached to this Agreement. The Release must be executed and become irrevocable by the 60th day following the date of Executive’s termination of employment; provided that if the 60 day period spans two (2) calendar years, then, to the extent necessary to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the payments and benefits described in this Section 4(h) will be paid, or commence, in the second calendar year.  (ii) If Executive meets the requirements described in clause (i) above, (ii)(A) below shall govern, unless the termination of employment occurs in connection with or following a Change in Control, in which event (ii)(B) below shall govern: (A) FLIC shall pay Executive, or in the event of Executive’s subsequent death, Executive’s beneficiary or estate, a cash lump sum payment equal to the sum of:  (i) two times Base Salary at the rate in effect immediately prior to his date of termination, plus (ii) an amount equal to the product of: (I) the reasonably estimated monthly cost of the medical, dental and vision insurance coverage maintained by the Bank for Executive immediately prior to Executive’s date of termination; multiplied by (II) twenty-four (24). Such amount shall be paid to Executive in a lump sum within ten (10) days following Executive’s date of termination, or if later, following the seventh (7th) day after Executive’s execution of the Release required under Section 4(h)(i)(B) hereof. (B) If the termination of employment occurs in connection with or following a Change in Control, FLIC shall pay Executive, or in the event of Executive’s subsequent death, Executive’s beneficiary or estate, a cash lump sum payment equal to the sum of:  (i) two times the sum of (x) Base Salary at the rate in effect immediately prior to his date of termination, and (y) his annual cash incentive compensation, calculated based on Target levels of performance for the year in which the Change in Control occurs, plus (ii) an amount equal to the product of: (I) the reasonably estimated monthly cost of the medical, dental and vision insurance coverage maintained by the Bank for Executive immediately prior to Executive’s date of termination; multiplied by (II) twenty-four (24). Such amount shall be paid to Executive in a lump sum within ten (10) days following Executive’s date of termination, or if later, following the seventh (7th) day after Executive’s execution of the Release required under Section 4(h)(i)(B) hereof.

Additional Compensation Payable Following Termination Without Cause or Termination with Good Reason. (Prior to, and on or after, Age 60 but prior to Normal Retirement Age). (i) In addition to the compensation set forth in Section 4(g) above, Executive will receive the additional compensation and benefits set forth in this paragraph (h), if the following requirements are met: (A) Executive’s employment is terminated pursuant to Section 4(f) above (Termination Without Cause or Termination for Good Reason), including a termination following ) prior to age 60; (B) Executive is not eligible to receive compensation and benefits under Section 5 below in connection with a Change in Control; and and (BC) Executive executes a release of his claims against the Bank, the Company and any affiliate, and their officers, directors, successors and assigns (the “Release”), the form of which release is attached to this Agreement. The Release must be executed and become irrevocable by the 60th day following the date of Executive’s termination of employment; provided that if the 60 day period spans two (2) calendar years, then, to the extent necessary to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the payments and benefits described in this Section 4(h) will be paid, or commence, in the second calendar year. . (ii) If Executive meets the requirements described in clause (i) above, (ii)(A) below shall govern, unless the termination of employment occurs in connection with or following a Change in Control, in which event (ii)(B) below shall govern:, (A) FLIC The Bank shall pay Executive, or in the event of Executive’s subsequent death, Executive’s beneficiary or estate, a cash lump sum payment equal to the sum of: : (i) two three times Base Salary at the rate in effect immediately prior to his date of termination, plus (ii) an amount equal to the product of: (I) the reasonably estimated monthly cost of the medical, dental and vision insurance coverage maintained by the Bank for Executive immediately prior to Executive’s date of termination; multiplied by (II) twentythirty-four six (2436). Such amount shall be paid to Executive in a lump sum within ten (10) days following Executive’s date of termination, or if later, following the seventh (7th) day after Executive’s execution of the Release required under Section 4(h)(i)(B4(h)(i)(C) hereof. (B) If In addition, outstanding Restricted Stock Units granted to Executive shall become vested and payable under the same terms and conditions as would apply upon Executive’s Retirement as set forth in the applicable Award Agreements between the Company and Executive. (iii) Notwithstanding clause (ii), if Executive meets the requirements of clause (i) above, except that his termination pursuant to Section 4(f) occurs on or after attaining 60 but prior to Normal Retirement Age, then in lieu of employment occurs additional compensation in connection with or clause (ii), Executive shall be entitled to the following a Change in Control, FLIC additional compensation: (A) The Bank shall pay Executive, or in the event of Executive’s subsequent death, Executive’s beneficiary or estate, a cash lump sum payment equal to the sum of: : (i) two one times the sum of (x) Base Salary at the rate in effect immediately prior to his date of termination, and (y) his annual cash incentive compensation, calculated based on Target levels of performance for the year in which the Change in Control occurs, plus (ii) an amount equal to the product of: (I) the reasonably estimated monthly cost of the medical, dental and vision insurance coverage maintained by the Bank for Executive immediately prior to Executive’s date of termination; multiplied by (II) twenty-four twelve (2412). Such amount shall be paid to Executive in a lump sum within ten (10) days following Executive’s date of termination, or if later, following the seventh (7th) day after Executive’s execution of the Release required under Section 4(h)(i)(B4(h)(i)(C) hereof. (B) In addition, outstanding Restricted Stock Units granted to Executive shall become vested and payable under the same terms and conditions as would apply upon Executive’s Retirement as set forth in the applicable Award Agreements between the Company and Executive.

Additional Compensation Payable Following Termination Without Cause or Termination with Good Reason. (i) In addition to the compensation set forth in Section 4(g) above, Executive will receive the additional compensation and benefits set forth in this paragraph (h), if the following requirements are met: : (A) Executive’s employment is terminated pursuant to Section 4(f) above (Termination Without Cause or Termination for Good Reason), including a termination following a Change in Control; and  (B) Executive executes a release of his claims against the Bank, the Company and any affiliate, and their officers, directors, successors and assigns (the “Release”), the form of which release is attached to this Agreement. The Release must be executed and become irrevocable by the 60th day following the date of Executive’s termination of employment; provided that if the 60 day period spans two (2) calendar years, then, to the extent necessary to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the payments and benefits described in this Section 4(h) will be paid, or commence, in the second calendar year. . (ii) If Executive meets the requirements described in clause (i) above, (ii)(A) below shall govern, unless the termination of employment occurs in connection with or following a Change in Control, in which event (ii)(B) below shall govern: (A) FLIC shall pay Executive, or in the event of Executive’s subsequent death, Executive’s beneficiary or estate, a cash lump sum payment equal to the sum of:  (i) two times Base Salary at the rate in effect immediately prior to his date of termination, plus plus 5 (ii) an amount equal to the product of: (I) the reasonably estimated monthly cost of the medical, dental and vision insurance coverage maintained by the Bank for Executive immediately prior to Executive’s date of termination; multiplied by (II) twenty-four (24). Such amount shall be paid to Executive in a lump sum within ten (10) days following Executive’s date of termination, or if later, following the seventh (7th) day after Executive’s execution of the Release required under Section 4(h)(i)(B) hereof. (B) If the termination of employment occurs in connection with or following a Change in Control, FLIC shall pay Executive, or in the event of Executive’s subsequent death, Executive’s beneficiary or estate, a cash lump sum payment equal to the sum of:  (i) two times the sum of (x) Base Salary at the rate in effect immediately prior to his date of termination, and (y) his annual cash incentive compensation, calculated based on Target levels of performance for the year in which the Change in Control occurs, plus (ii) an amount equal to the product of: (I) the reasonably estimated monthly cost of the medical, dental and vision insurance coverage maintained by the Bank for Executive immediately prior to Executive’s date of termination; multiplied by (II) twenty-four (24). Such amount shall be paid to Executive in a lump sum within ten (10) days following Executive’s date of termination, or if later, following the seventh (7th) day after Executive’s execution of the Release required under Section 4(h)(i)(B) hereof.

Additional Compensation Payable Following Termination Without Cause or Termination with Good Reason. (i) In addition to the compensation set forth in Section 4(g4(f) above, Executive will receive the additional compensation and benefits set forth in this paragraph (hg), if the following requirements are met: (A) Executive’s employment is terminated pursuant to Section 4(f4(e) above (Termination Without Cause or Termination for Good Reason), including a termination following ; (B) Executive is not eligible to receive compensation and benefits under Section 5 below in connection with a Change in Control; and and (BC) Executive executes a release of his claims against the Bank, the Company and any affiliate, and their officers, directors, successors and assigns (the “Release”), the form of which release is attached to this Agreement. The Release must be executed and become irrevocable by the 60th day following the date of Executive’s termination of employment; provided that if the 60 day period spans two (2) calendar years, then, to the extent necessary to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the payments and benefits described in this Section 4(h4(g) will be paid, or commence, in the second calendar year. . (ii) If Executive meets the requirements described in clause (i) above, (ii)(A) below shall govern, unless the termination of employment occurs in connection with or following a Change in Control, in which event (ii)(B) below shall govern:, (A) FLIC The Bank shall pay Executive, or in the event of Executive’s subsequent death, Executive’s beneficiary or estate, a cash lump sum payment equal to the sum of: : (i) two three times Base Salary at the rate in effect immediately prior to his date of termination, plus (ii) an amount equal to the product of: (I) the reasonably estimated monthly cost of the medical, dental and vision insurance coverage maintained by the Bank for Executive immediately prior to Executive’s date of termination; multiplied by (II) twentythirty-four six (2436). Such amount shall be paid to Executive in a lump sum within ten (10) days following Executive’s date of termination, or if later, following the seventh (7th) day after Executive’s execution of the Release required under Section 4(h)(i)(B4(g)(i)(C) hereof. (B) If In addition, outstanding Restricted Stock Units granted to Executive shall become vested and payable under the termination of employment occurs in connection with or following a Change in Control, FLIC shall pay same terms and conditions as would apply upon Executive, or 's Retirement as set forth in the event of applicable Award Agreements between the Company and Executive’s subsequent death, Executive’s beneficiary or estate, a cash lump sum payment equal to the sum of:  (i) two times the sum of (x) Base Salary at the rate in effect immediately prior to his date of termination, and (y) his annual cash incentive compensation, calculated based on Target levels of performance for the year in which the Change in Control occurs, plus (ii) an amount equal to the product of: (I) the reasonably estimated monthly cost of the medical, dental and vision insurance coverage maintained by the Bank for Executive immediately prior to Executive’s date of termination; multiplied by (II) twenty-four (24). Such amount shall be paid to Executive in a lump sum within ten (10) days following Executive’s date of termination, or if later, following the seventh (7th) day after Executive’s execution of the Release required under Section 4(h)(i)(B) hereof.