Common use of By the Bank Clause in Contracts

By the Bank. The Bank shall have the right to terminate the Executive's employment hereunder at any time and Executive's only rights to compensation under this Agreement shall be as follows: 5.1.1 If the Bank terminates Executive's employment under this Agreement for Cause or as a result of Disability, the Company's and the Bank's obligations hereunder shall cease as of the date of termination, Executive shall have no right to compensation or other benefits under this Agreement for any period after the date of termination, and Executive shall be subject to the non-competition provisions set forth in section 10 hereof. 5.1.2 If the Bank terminates Executive other than for Cause or as a result of Disability and there has been a Change of Control, Executive shall be entitled to receive, as severance, immediately upon such termination, the compensation and benefits provided in Section 6 hereof that would otherwise be payable over the three years subsequent to such termination. 5.1.3 If the Bank terminates Executive other than for Cause or as a result of Disability and in the absence of a Change of Control, Executive shall be entitled to receive, as severance, immediately upon such termination, the compensation and benefits provided in Section 6 hereof for the remaining Term of this Agreement. 5.1.4 If the Bank terminates Executive other than for Cause, (A) all rights of Executive pursuant to awards of share grants or unexpired options granted by the Company or the Bank shall be deemed to have vested and become immediately exercisable, and shall be released from all conditions and restrictions on transfer, except for restrictions on transfer pursuant to the Securities Act of 1933, as amended, and (B) the Executive shall be deemed to be credited with service with the Bank for the same period of time for which benefits are required to be paid under Section 5.1.2 or 5.1.3, as applicable, for the purposes of the Bank's benefit plans, including, without limitation, any restricted stock agreements hereafter entered into with Executive.

By the Bank. The Bank shall have the right to terminate the Executive's Employee’s employment hereunder at any time and Executive's only rights to compensation under this Agreement shall be as follows:during the Term hereof for any reason or for no reason, including, without limitation, (i) for Cause, (ii) if the Employee becomes Disabled, or (iii) upon the Employee’s death. 5.1.1 If the Bank terminates Executive's Employee’s employment under this Agreement for Cause or as a result of DisabilityEmployee’s Disability or death, the Company's and the Bank's ’s obligations hereunder shall cease as of the date of termination, Executive shall have no right termination without prejudice to compensation or other benefits under this Agreement for any period after the date of termination, and Executive shall be subject to the non-competition provisions set forth in section 10 hereofvested rights provided hereunder. 5.1.2 If the Bank terminates Executive Employee’s employment other than for Cause or and other than as a result of Employee’s Disability and there has been a Change of Controlor death, Executive Employee shall be entitled to receive, as severance, immediately upon such termination, the compensation and benefits provided in Section 6 hereof that would otherwise be payable over the three years subsequent to such termination. 5.1.3 If the Bank terminates Executive the Employee’s employment other than for Cause or and other than as a result of Employee’s Disability and in the absence of a Change of Control, Executive shall be entitled to receive, as severance, immediately upon such termination, the compensation and benefits provided in Section 6 hereof for the remaining Term of this Agreement. 5.1.4 If the Bank terminates Executive other than for Causeor death, (A) all rights of Executive Employee pursuant to awards of share grants or unexpired options granted by the Company or the Bank shall be deemed to have vested and become immediately exercisable, and shall be released from all conditions and restrictions on transferrestrictions, except for restrictions on transfer pursuant to the Securities Act of 1933, as amended, and (B) the Executive Employee shall be deemed to be credited with service with the Bank for the same period of time for which benefits are required to be paid under Section 5.1.2 or 5.1.3, as applicable, such remaining Term for the purposes of the Bank's ’s benefit plans, including, without limitation, any restricted stock agreements hereafter entered into with ExecutiveEmployee. 5.1.4 For purposes of determining severance payments pursuant to Sections 5.1.2 and 5.2.2, (i) the amount of annual salary shall be deemed to be the annualized salary being paid immediately prior to the termination, (ii) the annual amount of unfixed compensation (such as a bonus) shall be deemed to be equal to the average of such compensation over the three year period immediately prior to the termination, and (iii) the annual amount of benefits shall be deemed to be the sum of the costs to the Bank of providing the benefits to the Employee for the twelve month period ending immediately prior to the termination.