By the Employers. (a) for Cause at any time, upon written notice to the Employee, in which event the Employers will have no further obligation to the Employee except for the payment of any amounts due and owing under Section 4 on the effective date of the termination; or (b) without Cause or upon the Permanent Disability of Employee at any time, provided that the Employers gives the Employee sixty (60) days' prior written notice of its intent to terminate, in which event the Employers will be required to make the termination payments under Section 3.7.
Appears in 3 contracts
Samples: Employment Agreement (First Deposit Bancshares Inc), Employment Agreement (First Deposit Bancshares Inc), Employment Agreement (First Deposit Bancshares Inc)
By the Employers. (a) for Cause at any time, upon written notice to the Employee, in which event the Employers will have no further obligation to the Employee except for the payment of any amounts due and owing under Section 4 on the effective date of the termination; or
(b) without Cause or upon the Permanent Disability of Employee at any time, provided that the Employers gives the Employee sixty (60) days' prior written notice of its intent to terminate, in which event the Employers will be required to make the termination payments under Section 3.7.
Appears in 1 contract
Samples: Employment Agreement (First Deposit Bancshares Inc)
By the Employers. (a) for Cause at any time, upon written notice to the Employee, in which event the Employers will have no further obligation to the Employee except for the payment of any amounts due and owing under Section 4 on the effective date of the termination; or
or (b) without Cause or upon the Permanent Disability of Employee at any time, provided that the Employers gives the Employee sixty (60) days' prior written notice of its intent to terminate, in which event the Employers will be required to make the termination payments under Section 3.7.
Appears in 1 contract
Samples: Employment Agreement (First Deposit Bancshares Inc)