Common use of Certain Termination Benefits Clause in Contracts

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and other than for death or disability (as defined in Section 7), or by the Executive with Good Reason, the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date of termination until the Expiration Date, the Employer shall continue to pay the Executive a salary and Bonus in accordance with Sections 4(a) and 4(b), said payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he not been terminated. (ii) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medical, dental and life insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employer, and service credits will continue to accrue during such period as if the Executive had remained in the employ of the Employer. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estate. (iv) The Employer's obligation to provide the Executive with medical or dental insurance pursuant to subsections 6(e)(ii) and 6(e)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employer.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or death, Section 6(f) with respect to a Change-of-Control, Section 6(g) with respect to non-renewal, Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and other than for death or disability (as defined in pursuant to Section 7), 6(b) or by the Executive with Good ReasonReason pursuant to Section 6(c), the Executive shall be entitled to the following benefits: (i) For the a period of twelve (12) months subsequent to the date of termination until (the Expiration “Benefit End Date”), the Employer shall continue to pay the Executive a salary and Bonus benefits in accordance with Sections 4(a) and 4(b4(d), said payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he not been terminated. (ii) For the period subsequent to the date of termination until the Expiration Benefit End Date, the Executive shall continue to receive medical, dental and life insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employer, and service credits will continue to accrue during such period as if the Executive had remained in the employ of the Employer. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan to the Executive, or to the Executive's ’s dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's ’s dependents, beneficiaries or estate. (iv) The Employer's ’s obligation to provide the Executive with medical or dental insurance pursuant to subsections 6(e)(ii) and 6(e)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's ’s new employer.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and of this Agreement for any reason other than for death or disability (as defined in a termination under Section 7), or by the Executive with Good Reason6(a) above, the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date of termination until the Expiration Date, the Employer Bank shall continue to pay the Executive a the base salary and Bonus at the rate in accordance with Sections 4(a) and 4(b), said payments to be made effect on the same periodic dates date of termination, including such increases as salary and Bonus payments would have been made to the Executive had he not been terminatedare provided in Section 4(a). (ii) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medicalall benefits described in Section 4(b), dental (d) and life insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits (f) above existing on the date of termination (it being acknowledged that the postexcept for any cash bonus plans which shall be pro-termination plans may be different from the plans in effect on rated through the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the EmployerBank, with an annual salary at the rate in effect on the date of termination, with increases as provided in Section 4(a), and service credits will continue to accrue during such period as if the Executive had remained in the employ of the EmployerBank. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance benefit plan shall not be payable or provided under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the EmployerBank, the Employer Bank itself shall pay or provide for payment of equivalent benefits, taking into account such benefits and service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estate. (iv) The Employer's obligation to provide If, as of the date of termination, the Executive with medical or dental insurance pursuant is eligible to subsections 6(e)(ii) and 6(e)(iii) hereof shall terminate with respect to each particular type retire under any retirement plan of insurance the Bank in the event effect at such time, the Executive becomes employed will be entitled to receive any and has made available all benefits that would accrue to him in connection with retiring employees under such employment at the expense plan for such period of the employer that particular type of insurance, so long time after termination as such insurance is substantially similar to the insurance provided by the Employer. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employerreceiving termination benefits under this Agreement.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by pursuant to the Employer without Cause and other than for death first sentence of Section 7(c) or disability (as defined in pursuant to Section 77(d), or by the Executive with Good Reason, the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date of termination until the Expiration Date, the Employer Employers shall continue to pay the Executive a total salary and Bonus at the rate in accordance with Sections 4(a) and 4(b), said payments to be made effect on the same periodic dates as salary and Bonus payments would date of termination (unless an increased rate shall previously have been made authorized to the Executive had he not been terminatedtake effect as of a later date, in which case such increased rate shall apply). (ii) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medical, dental and life insurance all benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits described in Section 4(b) above existing on the date of termination (it being acknowledged that the postexcept for any cash bonus plans, which shall be pro-termination plans may be different from the plans in effect on rated through the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employeremployers, with an annual total salary at the rate in effect on the date of termination (unless an increased rate shall previously have been authorized to take effect as of a later date, in which case such increased rate shall apply) and service credits will continue to accrue during such period as if the Executive had remained in the employ of the EmployerEmployers. (iii) If, in spite of the provisions of Section 6(e)(ii7(e)(ii) above, benefits or service credits under any medical, dental or life insurance benefit plan shall not be payable or provided accrued under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the EmployerEmployers, the Employer Employers themselves shall pay or provide for payment of equivalent benefits, taking into account such benefits (calculated as if all such service credits had been accrued) to or for such benefits to the Executive, benefit of the Executive or to the Executive's dependents, beneficiaries or estate. (iv) The Employer's obligation to provide the Executive with medical or dental insurance pursuant to subsections 6(e)(ii) and 6(e)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employer.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and other than for death or disability (as defined in Section 7)Cause, or by the Executive with Good Reason, the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date of termination until the Expiration Date, the Employer shall continue to pay the Executive his Base Salary in effect on the date of termination for a salary and Bonus in accordance with Sections 4(a) and 4(b)period of three years, said such payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he this employment not been terminated, unless the Employer elects to make a lump sum severance payment in an equivalent amount within thirty (30) days of the date of termination; provided, however, that the Employer shall be required to make a lump sum severance payment in an equivalent amount within thirty (30) days of the date of termination in the event the Executive terminates his employment for Good Reason as a result of a Change of Control. (ii) To the extent the Executive is eligible for commissions, Employer shall pay Executive commissions for any loans originated by Executive prior to the date of termination, regardless of their closing date, together with information indicating the manner and basis upon which such commissions were calculated. (iii) For the period subsequent to the date of termination until the Expiration Date, Employer shall pay Executive any bonuses that would have been paid to Executive from the date of termination to the Expiration Date, together with information indicating the manner and basis upon which such bonuses were calculated. (iv) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medical, dental life and life liability insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employer, with an annual Base Salary plus commission and service credits will continue to accrue during such period as if bonus at the Executive had remained rate in effect on the employ date of the Employertermination. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estate. (ivv) The Employer's obligation to provide the Executive with medical or dental and other insurance benefits pursuant to subsections 6(e)(ii) and 6(e)(iiiSection 4(d)(iv) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (vvi) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense termination date is within 9 months of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereofexpiration date, the Employer shall expiration date will be required extended to provide be 9 months after the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employertermination date. ALL BENEFITS AND OBLIGATIONS OF THE RESPECTIVE PARTIES UNDER THIS AGREEMENT SHALL CEASE AS OF THE TERMINATION DATE UNLESS SPECIFICALLY PROVIDED FOR IN THIS AGREEMENT OR RELATED CONTRACT OR PLAN.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer Union without Cause and other than for death or disability (as defined in Section 7)disability, or by the Executive Officer with Good Reason, the Executive Officer shall be entitled to the following benefits:, subject to the provisions of Section 5(c) (for purposes of this subsection (f), the term “Union” shall include the Company and the Bank, as may be applicable): (i) For the Subject to subsection (iii) below, for a two-year period subsequent to immediately following the date of termination until the Expiration Datetermination, the Employer Union shall continue to pay the Executive Officer her Base Salary (not including any bonus other than any unpaid bonus relating to a salary and Bonus fiscal year of the Company completed prior to the date of termination) at the rate in accordance with Sections 4(a) and 4(b)effect on the date of termination, said such payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive Officer had he she not been terminated, provided that if the Officer is a Key Employee (as defined in subsection (vi)) on the date of termination, she shall not receive any payments until the first day of the seventh month following the date of termination and the first payment shall include six months of payments and each remaining payment shall equal the same amount the Officer would have received while employed. The Company and the Officer will use their best efforts to accelerate the vesting of any nonvested benefits of the Officer under any employee stock-based or other benefit plan or arrangement to the extent permitted by the terms of such plan or arrangement. (ii) For the Subject to subsection (iv) below, for a two-year period subsequent to immediately following the date of termination until the Expiration Datetermination, the Executive Officer shall continue to receive medical, dental medical and life insurance benefits pursuant to plans made available by the Employer Union to its employees at the expense of the Employer Company to substantially the same extent the Executive Officer received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive Officer shall be treated as if he she had remained in the employ of Union, with a Base Salary at the Employer, and service credits will continue to accrue during such period as if rate in effect on the Executive had remained in the employ date of the Employertermination. (iii) If, in spite During the twelve month period that begins on the first anniversary date of the provisions termination of Section 6(e)(ii) aboveemployment and ends on the second anniversary date, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan Union’s obligation to continue to pay the Base Salary to the Executive, or Officer pursuant to subsection 4(f)(i) during such second twelve month period shall terminate thirty days after the Executive's dependents, beneficiaries or estate, because the Executive Officer obtains full-time employment with another employer that provides an annualized base salary that is no longer deemed at least equal to be an employee 75% of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estateBase Salary being paid by Union. (iv) The Employer's Company’s obligation to provide the Executive Officer with medical or dental and life insurance benefits pursuant to subsections 6(e)(ii) and 6(e)(iiisubsection 4(f)(ii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed Officer obtains new employment and has is eligible to participate in substantially comparable medical and life insurance programs made available to him in connection her and similarly situated employees by or through her new employer. If only one type of insurance (e.g., medical) is made available to the Officer and similarly situated employees, the Company will continue to provide the Officer with such employment at the expense other insurance coverage for the remainder of the employer that particular two year period or until such other type of insurance, so long as such insurance is substantially similar made available to the insurance provided her and similarly situated employees by the Employerher new employer, whichever occurs sooner. (v) In During the event two-year period following the Executive becomes employed date of termination, the Officer shall provide the Company with at least ten days written notice before the starting date of any employment, identifying the prospective employer and has made available to him in connection with such employment at its affiliated companies and the expense job description, including a description of the proposed geographic market area associated with the new position. The Officer shall notify in writing any new employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount existence of life insurance the restrictive covenants set forth in Section 5 of this Agreement. (vi) For purposes of this Agreement, “Key Employee” shall have the meaning assigned to that term under Section 409A of the Internal Revenue Code of 1986, as amended, which would be provided generally defines a Key Employee as an employee who, with respect to a publicly traded company, is (a) one of the top fifty most highly compensated officers with an annual compensation in excess of $130,000 (as adjusted from time to time by Treasury Regulations), (b) a five percent owner of the Employer pursuant Company, or (c) a one percent owner of the Company with annual compensation in excess of $150,000 (as adjusted from time to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided time by the Executive's new employerTreasury Regulations).

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and other than for death or disability (as defined in Section 7)Cause, or by the Executive with Good Reason, the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date of termination until the Expiration Date, the Employer shall continue to pay the Executive a salary and Bonus his Base Salary in accordance with Sections 4(a) and 4(b)effect on the date of termination, said such payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he this employment not been terminated, unless the Employer elects to make a lump sum severance payment in an equivalent amount within thirty (30) days of the date of termination; provided, however, that the Employer shall be required to make a lump sum severance payment in an equivalent amount within thirty (30) days of the date of termination in the event the Executive terminates his employment for Good Reason as a result of a Change of Control. (ii) To the extent the Executive is eligible for commissions, Employer shall pay Executive commissions for any loans originated by Executive prior to the date of termination, regardless of their closing date, together with information indicating the manner and basis upon which such commissions were calculated. (iii) For the period subsequent to the date of termination until the Expiration Date, Employer shall pay Executive any bonuses that would have been paid to Executive from the date of termination to the Expiration Date, together with information indicating the manner and basis upon which such bonuses were calculated. (iv) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medical, dental life and life liability insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employer, with an annual Base Salary plus commission and service credits will continue to accrue during such period as if bonus at the Executive had remained rate in effect on the employ date of the Employertermination. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estate. (ivv) The Employer's obligation to provide the Executive with medical or dental and other insurance benefits pursuant to subsections 6(e)(ii) and 6(e)(iiiSection 4(d)(iv) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employer.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer Bank without Cause and other than for death or disability (as defined in Section 7)disability, or by the Executive Officer with Good Reason, the Executive Officer shall be entitled to the following benefits:, subject to the provisions of Section 5(c) (for purposes of this subsection (f), the term “Company” shall include the Bank as may be applicable): (i) For the Subject to subsection (iii) below, for a two-year period subsequent to immediately following the date of termination until the Expiration Date, the Employer Bank shall continue to pay the Executive Officer his Base Salary (not including any bonus other than any unpaid bonus relating to a salary and Bonus fiscal year of the Company completed prior to the date of termination) at the rate in accordance with Sections 4(a) and 4(b)effect on the date of termination, said such payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive Officer had he not been terminated, provided that if the Officer is a Key Employee (as defined in subsection (vi)) on the date of termination, he shall not receive any payments until the first day of the seventh month following the date of termination and the first payment shall include six months of payments and each remaining payment shall equal the same amount the Officer would have received while employed. The Company and the Officer will use their best efforts to accelerate the vesting of any nonvested benefits of the Officer under any employee stock-based or other benefit plan or arrangement to the extent permitted by the terms of such plan or arrangement. (ii) For the Subject to subsection (iv) below, for a two-year period subsequent to immediately following the date of termination until the Expiration Date, the Executive Officer shall continue to receive medical, dental medical and life insurance benefits pursuant to plans made available by the Employer Bank to its employees at the expense of the Employer Company to substantially the same extent the Executive Officer received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive Officer shall be treated as if he had remained in the employ of the EmployerBank, and service credits will continue to accrue during such period as if with a Base Salary at the Executive had remained rate in effect on the employ date of the Employertermination. (iii) If, in spite During the twelve month period that begins on the first anniversary date of the provisions termination of Section 6(e)(ii) aboveemployment and ends on the second anniversary date, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan the Bank’s obligation to continue to pay the Base Salary to the Executive, or Officer pursuant to subsection 4(f)(i) during such second twelve month period shall terminate thirty days after the Executive's dependents, beneficiaries or estate, because the Executive Officer obtains full-time employment with another employer that provides an annualized base salary that is no longer deemed at least equal to be an employee 75% of the Employer, Base Salary being paid by the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estateBank. (iv) The Employer's Company’s obligation to provide the Executive Officer with medical or dental and life insurance benefits pursuant to subsections 6(e)(ii) and 6(e)(iiisubsection 4(f)(ii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed Officer obtains new employment and has is eligible to participate in substantially comparable medical and life insurance programs made available to him in connection and similarly situated employees by or through his new employer. If only one type of insurance (e.g., medical) is made available to the Officer and similarly situated employees, the Company will continue to provide the Officer with such employment at the expense other insurance coverage for the remainder of the employer that particular two year period or until such type of insurance, so long as such insurance is substantially similar made available to the insurance provided him and similarly situated employees by the Employerhis new employer, whichever occurs sooner. (v) In During the event two-year period following the Executive becomes employed date of termination, the Officer shall provide the Company with at least ten days written notice before the starting date of any employment, identifying the prospective employer and has made available to him in connection with such employment at its affiliated companies and the expense job description, including a description of the proposed geographic market area associated with the new position. The Officer shall notify in writing any new employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount existence of life insurance the restrictive covenants set forth in Section 5 of this Agreement. (vi) For purposes of this Agreement, “Key Employee” shall have the meaning assigned to that term under Section 409A of the Internal Revenue Code of 1986, as amended, which would be provided generally defines a Key Employee as an employee who, with respect to a publicly traded company, is (a) one of the top fifty most highly compensated officers with an annual compensation in excess of $130,000 (as adjusted from time to time by Treasury Regulations), (b) a five percent owner of the Employer pursuant Company, or (c) a one percent owner of the Company with annual compensation in excess of $150,000 (as adjusted from time to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided time by the Executive's new employerTreasury Regulations).

Certain Termination Benefits. Except as expressly Unless otherwise specifically provided in this Section 6(e)Agreement or otherwise required by law or by the terms of any employee benefit plan and other compensation plans, programs and structures, or fringe benefit programs in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, which the Executive shall not be entitled to any benefits in connection with is a participant at the time of the termination of his employment with the Company, all compensation and benefits payable to the Executive under this AgreementAgreement shall terminate on the date of termination of Executive's employment hereunder. In Notwithstanding the foregoing, in the event of termination by the Employer without Cause and other than Executive for death or disability (as defined in Good Reason pursuant to Section 7), 6(c) or by the Executive with Good ReasonEmployer pursuant to Section 6(d), the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date of termination until the Expiration Date, the The Employer shall continue to pay an amount equal to the Executive's salary to the Executive (or the Executive's beneficiary designated in writing to the Employer prior to his death or to his estate, if he fails to make such designation or such beneficiary predeceases him) during a period (the "Severance Period") which shall extend for a period of twelve (12) months after the date of the Executive's termination, at the salary and Bonus rate in accordance with Sections 4(a) and 4(b)effect on the date of his termination, said payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he not been terminated.periodic (ii) For During the period subsequent to the date of termination until the Expiration DateSeverance Period, the Executive shall continue to receive medical, dental and life insurance all benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits described in Sections 4(c) existing on the date of termination (it being acknowledged that the post-termination except for any cash bonus plans may which shall be different from the plans in effect on prorated through the date of termination). For purposes of application of such benefits, benefits the Executive shall be treated as if he had remained in the employ of the Employer, and service credits will continue to accrue during such period as if with a total annual salary at the Executive had remained rate in effect on the employ date of the Employertermination. (iii) In addition to, but not in limitation of, the rights which the Executive otherwise may have and except as expressly provided in any award subsequent to the grant of the stock options contemplated by Section 4(f), any restrictions remaining on any restricted shares issued to the Executive under the Employer's restricted plans shall immediately lapse, any performance shares issued to the Executive under the Employer's incentive stock plans shall immediately vest, and any stock options and stock appreciation rights granted to the Executive shall become exercisable immediately, and the Executive may exercise all such options or stock appreciation rights within the later of the remainder of their term or one year after the expiration of the Severance Period. (iv) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance benefit plan shall not be payable or provided under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account such benefits and service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estate. (iv) The Employer's obligation to provide ; provided, however, that the Executive with medical or dental insurance pursuant to subsections 6(e)(ii) and 6(e)(iii) hereof Employer shall terminate have no obligations with respect to each particular type the federal or state income tax treatment of insurance in the event exercise of any stock options or other stock rights held by the Executive becomes employed and has made available to him in connection with such employment at the expense under any of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer's stock incentive plans. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employer.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and other than for death or disability (as defined in Section 7)Cause, or by the Executive with Good Reason, the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date of termination until the Expiration Date, the Employer shall continue to pay the Executive a salary and Bonus his Base Salary in accordance with Sections 4(a) and 4(b)effect on the date of termination FOR A PERIOD OF 3 YEARS, said such payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he this employment not been terminated, unless the Employer elects to make a lump sum severance payment in an equivalent amount within thirty (30) days of the date of termination; provided, however, that the Employer shall be required to make a lump sum severance payment in an equivalent amount within thirty (30) days of the date of termination in the event the Executive terminates his employment for Good Reason as a result of a Change of Control. (ii) To the extent the Executive is eligible for commissions, Employer shall pay Executive commissions for any loans originated by Executive prior to the date of termination, regardless of their closing date, together with information indicating the manner and basis upon which such commissions were calculated. (iii) For the period subsequent to the date of termination until the Expiration Date, Employer shall pay Executive any bonuses that would have been paid to Executive from the date of termination to the Expiration Date, together with information indicating the manner and basis upon which such bonuses were calculated. (iv) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medical, dental life and life liability insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employer, with an annual Base Salary plus commission and service credits will continue to accrue during such period as if bonus at the Executive had remained rate in effect on the employ date of the Employertermination. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estate. (ivv) The Employer's obligation to provide the Executive with medical or dental and other insurance benefits pursuant to subsections 6(e)(ii) and 6(e)(iiiSection 4(d)(iv) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (vvi) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense termination date is within 9 months of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereofexpiration date, the Employer shall expiration date will be required extended to provide be 9 months after the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employertermination date.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and other than for death or disability (as defined in Section 7)Cause, or by the Executive with Good Reason, the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date of termination until the Expiration Date, the Employer shall continue to pay the Executive a salary and Bonus his Base Salary in accordance with Sections 4(a) and 4(b)effect on the date of termination, said such payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he this employment not been terminated, unless the Employer elects to make a lump sum severance payment in an equivalent amount within thirty (30) days of the date of termination or the Executive requests a lump sum payment ; provided, however, that the Employer shall be required to make a lump sum severance payment in an equivalent amount within thirty (30) days of the date of termination in the event the Executive terminates his employment for Good Reason as a result of a Change of Control. (ii) For the period subsequent to the date of termination until the Expiration Date, Employer shall pay Executive any bonuses that would have been paid to Executive from the date of termination to the Expiration Date, together with information indicating the manner and basis upon which such bonuses were calculated. (iii) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medical, dental medical and life insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employer, with an annual Base Salary plus commission and service credits will continue to accrue during such period as if bonus at the Executive had remained rate in effect on the employ date of the Employer. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estatetermination. (iv) The Employer's ’s obligation to provide the Executive with medical or dental and other insurance benefits pursuant to subsections 6(e)(ii) and 6(e)(iiiSection 4(d)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employer.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or death, Section 6(f) with respect to a Change-of-Control, Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and other than for death or disability (as defined in pursuant to Section 7), 6(b) or by the Executive with Good ReasonReason pursuant to Section 6(c), the Executive shall be entitled to the following benefits: (i) For the period subsequent to the date Within 30 days of termination until the Expiration Datetermination, the Employer shall continue to pay the Executive a lump sum equal to the aggregate amount of salary and Bonus in accordance with Sections 4(a) and 4(b), said payments to be made on the same periodic dates as salary and Bonus payments would have been made due to the Executive had he not been terminateduntil the Termination Date. (ii) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medical, dental and life insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employer, and service credits will continue to accrue during such period as if the Executive had remained in the employ of the Employer. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan to the Executive, or to the Executive's ’s dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's ’s dependents, beneficiaries or estate. (iv) The Employer's ’s obligation to provide the Executive with medical or dental insurance pursuant to subsections 6(e)(ii) and 6(e)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's ’s new employer.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or death, Section 6(f) with respect to a Hostile Change-of-Control, Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by the Employer without Cause and other than for death or disability (as defined in pursuant to Section 7), 6(b) or by the Executive with Good ReasonReason pursuant to Section 6(c), the Executive shall be entitled to the following benefits: (i) For the a period of twelve (12) months subsequent to the date of termination until (the Expiration “Benefit End Date”), the Employer shall continue to pay the Executive a salary and Bonus in accordance with Sections Section 4(a) and 4(b), said payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he not been terminated. (ii) For the period subsequent to the date of termination until the Expiration Benefit End Date, the Executive shall continue to receive medical, dental and life insurance benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the date of termination). For purposes of application of such benefits, the Executive shall be treated as if he had remained in the employ of the Employer, and service credits will continue to accrue during such period as if the Executive had remained in the employ of the Employer. (iii) If, in spite of the provisions of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not be payable or provided under any such plan to the Executive, or to the Executive's ’s dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the Employer, the Employer shall pay or provide for payment of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's ’s dependents, beneficiaries or estate. (iv) The Employer's ’s obligation to provide the Executive with medical or dental insurance pursuant to subsections 6(e)(ii) and 6(e)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (v) In the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar to the life insurance provided by the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereof, the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's ’s new employer.

Certain Termination Benefits. Except as expressly provided in this Section 6(e), or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be required by applicable law, the Executive shall not be entitled to any benefits in connection with the termination of this Agreement. In the event of termination by pursuant to the Employer without Cause and other than for death first sentence of Section 6(c) or disability (as defined in pursuant to Section 76(d), or by the Executive with Good Reason, the Executive shall be entitled to reimbursement under the second sentence of Section 4(c) for actual costs and expenses incurred or contractually committed to be paid by the Executive as of the date of such termination, if any, and the following additional benefits: (i) For the period subsequent to the date of termination until the Expiration Date, Date the Employer Employers shall continue to pay the Executive a total salary and Bonus at the rate in accordance with Sections 4(a) and 4(b), said payments to be made effect on the same periodic dates as salary and Bonus payments would have been made to the Executive had he not been terminateddate of termination. (ii) For the period subsequent to the date of termination until the Expiration Date, the Executive shall continue to receive medical, dental and life insurance all benefits pursuant to plans made available by the Employer to its employees at the expense of the Employer to substantially the same extent the Executive received such benefits described in Section 4(b) above existing on the date of termination (it being acknowledged that the post-termination except for any cash bonus plans may which shall be different from the plans in effect on prorated through the date of termination). For purposes of application of such benefits, benefits the Executive shall be treated as if he had remained in the employ of the EmployerEmployers, with a total annual salary at the rate in effect on the date of termination, and service credits will continue to accrue accrued during such period as if the Executive had remained in the employ of the EmployerEmployers. (iii) If, in spite of the provisions provision of Section 6(e)(ii6(f)(ii) above, benefits or service credits under any medical, dental or life insurance benefit plan shall not be payable or provided under any such plan to the Executive, or to the Executive's dependents, beneficiaries or estate, because the Executive is no longer deemed to be an employee of the EmployerEmployers, the Employer Employers shall pay or provide for payment of equivalent benefits, taking into account such benefits and service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estate. (iv) The Employer's obligation to provide the Executive with medical or dental insurance pursuant to subsections 6(e)(ii) and 6(e)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer. (v) . In the event of termination pursuant to the second sentence of Section 6(c), Executive becomes employed shall be entitled to receive a lump sum payment of $225,000 and has made available to him in connection with such employment at the expense all of the employer life insurance which is substantially similar to benefits described in Section 6(f)(ii) and (iii) above, except for any payments of any amount under any bonus or other compensation plans. In the life insurance provided by the Employer event of termination pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereofSection 6(e), the Employer shall be required to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, all obligations of the amount Employers under this Agreement shall terminate as of life insurance which would the date indicated, but vested rights of the parties hereunder shall not be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employeraffected.

Certain Termination Benefits. Except as expressly Unless otherwise specifically provided in this Section 6(e), Agreement or in Section 6(a) with respect to death or Section 7 with respect to disability, or as may be otherwise required by applicable law, all compensation and benefits payable to the Executive under this Agreement shall not be entitled to any benefits in connection with terminate on the date of termination of the Executive’s employment under this Agreement. In Notwithstanding the foregoing, in the event of termination by of the Executive’s employment with the Employer without Cause and other than for death pursuant to Section 6(c) above or disability (as defined in Section 7), or termination by the Executive with Good ReasonReason pursuant to Section 6(b) above, the Executive Employer shall be entitled provide to the Executive the following benefitstermination benefits (“Termination Benefits”), provided that the Executive executes (and does not revoke) a general release of claims (the “Release”) in substantially the form attached hereto as Exhibit A, with such modifications as may be required at the time of execution for a valid and enforceable general release of claims, within the time frame set forth in the Release: (i) For a lump sum equal to twelve (12) months Salary (at the rate then in effect pursuant to Section 4(a)), payable in the next regular pay period subsequent to that occurs more than 30 days following the date of termination until of the Expiration Date, the Employer shall continue to pay the Executive a salary and Bonus in accordance with Sections 4(a) and 4(b), said payments to be made on the same periodic dates as salary and Bonus payments would have been made to the Executive had he not been terminated.Executive’s employment under this Agreement; and (ii) For the period subsequent continuation of group health plan benefits to the date extent authorized by and consistent with 29 U.S.C. § 1161 et seq. (commonly known as “COBRA”), with the cost of termination until the Expiration Date, regular premium for such benefits shared in the Executive shall continue to receive medical, dental and life insurance benefits pursuant to plans made available same relative proportion by the Employer to its employees at the expense of the Employer to substantially the same extent and the Executive received such benefits on the date of termination (it being acknowledged that the post-termination plans may be different from the plans as in effect on the date of termination until twelve (12) months after the date of termination). For purposes of application of such benefitsNotwithstanding the foregoing, nothing in this Section 6(d) shall be construed to affect the Executive’s right to receive COBRA continuation entirely at the Executive’s own cost to the extent that the Executive shall be treated as if he had remained in the employ of the Employer, and service credits will may continue to accrue during such period as if be entitled to COBRA continuation after the Executive had remained in the employ of the Employer.Executive’s right to cost sharing under Section 6(d)(ii) ceases; and (iii) If, that portion of her bonus as had been accrued by the Employer in spite accordance with generally accepted accounting principles as of the provisions end of Section 6(e)(ii) above, benefits or service credits under any medical, dental or life insurance plan shall not the fiscal quarter immediately preceding such termination. This portion of the bonus will be payable or provided under any such plan paid to the ExecutiveExecutive at the time the Employer pays bonuses to other senior employees, or to the Executive's dependents, beneficiaries or estate, because the Executive is provided that it shall be paid no longer deemed to be an employee later than March 14 of the Employer, calendar year immediately following the Employer shall pay or provide for payment calendar year during which termination of equivalent benefits, taking into account service credits for such benefits to the Executive, or to the Executive's dependents, beneficiaries or estateemployment occurs. (iv) The Employer's obligation to provide a pro rata portion of the Executive with medical or dental insurance pursuant to subsections 6(e)(ii) and 6(e)(iii) hereof shall terminate with respect to each particular type installment of insurance the Situational Pay for the fiscal quarter in which the Executive’s employment is terminated, payable in the event next regular pay period that occurs more than 30 days following the Executive becomes employed and has made available to him in connection with such employment at the expense date of termination of the employer that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the EmployerExecutive’s employment. (v) In the event any Incentive Bonus Separation Payment due to the Executive becomes employed and has made available to him in connection with such employment at the expense of the employer life insurance which is substantially similar pursuant to the life insurance terms of Exhibit B to this Agreement. (vi) If the Release is not executed (without revocation) within the time provided by in the Employer pursuant to Subsections 6(e)(ii) and 6(e)(iii) hereofRelease, or the Executive violates any provision of Section 7, below, the Employer Executive shall be required forfeit all rights to provide the Executive with life insurance pursuant to such subsections only in an amount equal to the excess, if any, of the amount of life insurance which would be provided by the Employer pursuant to such subsections if the Executive had not been provided with life insurance in connection with his new employment over the amount of life insurance provided by the Executive's new employerany Termination Benefits under this Agreement.