Common use of Company's Covenants Summarized Clause in Contracts

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's covenants set forth in Section 3 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described herein in the event the Executive's employment with the Company is (or, under the terms of this Agreement, is deemed to have been) terminated following a Change in Control and during the term of this Agreement. Except as provided herein, no amount or benefit shall be payable under this Agreement unless there shall have been (or, under the terms of this Agreement, there shall be deemed to have been) a termination of the Executive's employment with the Company following a Change in Control and during the term of this Agreement. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employment of the Company.

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's covenants set forth in Section 3 4.0 hereof, the Company agrees, under the conditions described herein, to pay the Executive the "Severance Payments Payments" described in Section 6.1 hereof and the other payments and benefits described herein in the event the Executive's employment with the Company is (or, under the terms of this Agreement, is deemed to have been) terminated following a Change in Control and during the term of this Agreement. Except as provided herein, no No amount or benefit shall be payable under this Agreement unless there shall have been (or, under the terms of this Agreementhereof, there shall be deemed to have been) a termination of the Executive's employment with the Company following a Change in Control and during the term of this AgreementControl. This Agreement shall not be construed as creating an express or implied contract of employment prior to the date of a Change in Control and, except as otherwise agreed in writing between the Executive and the Company, including the Employment Agreement dated ___________________, the Executive shall not have any right to be retained in the employment employ of the Company.

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's covenants set forth in Section 3 4.0 hereof, the Company agrees, under the conditions described herein, to pay the Executive the "Severance Payments Payments" described in Section 6.1 hereof and the other payments and benefits described herein in the event the Executive's employment with the Company is (or, under the terms of this Agreement, is deemed to have been) terminated following a Change in Control and during the term of this Agreement. Except as provided herein, no No amount or benefit shall be payable under this Agreement unless there shall have been (or, under the terms of this Agreementhereof, there shall be deemed to have been) a termination of the Executive's employment with the Company following a Change in Control and during the term of this AgreementControl. This Agreement shall not be construed as creating an express or implied contract of employment prior to the date of a Change in Control and, except as otherwise agreed in writing between the Executive and the Company, including the Employment Agreement dated December 5, 1997, the Executive shall not have any right to be retained in the employment employ of the Company.. 2 4.0

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and its subsidiaries and in consideration of the Executive's covenants set forth in Section 3 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the "Severance Payments Payments" described in Section 6.01 hereof and the other payments and benefits described herein in the event the Executive's employment with the Company is (or, under the terms of this Agreement, is deemed to have been) terminated following a Change in Control Shareholder Approval and during the term of this Agreement. Except as provided herein, no No amount or benefit shall be payable under this Agreement unless there shall have been (or, under the terms of this Agreementhereof, there shall be deemed to have been) a termination of the Executive's employment with the Company Company, as described in Section 6.01 hereof, following a Change in Control and during the term of this AgreementShareholder Approval. This Agreement shall not be construed as creating an express or implied contract of employment and, except 29 3 as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employment employ of the CompanyCompany or any of its subsidiaries.

Company's Covenants Summarized. In order to induce the Executive to ------------------------------ remain in the employ of the Company or the Bank and in consideration of the Executive's covenants set forth in Section 3 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments described in Section 6.1 hereof and the other payments and benefits described herein in the event the Executive's employment with the Company or the Bank is (or, under the terms of this Agreement, is deemed to have been) terminated following a Change in Control and during the term of this Agreement. Except as provided herein, no No amount or benefit shall be payable under this Agreement unless there shall have been (or, under the terms of this Agreementhereof, there shall be deemed to have been) a termination of the Executive's employment with the Company or the Bank following a Change in Control and during the term of this AgreementControl. This Agreement shall not be construed as creating an express or implied contract of employment andemployment, and except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employment employ of the CompanyCompany or the Bank. 4.

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's covenants set forth in Section 3 4.0 hereof, the Company agrees, under the conditions described herein, to pay the Executive the "Severance Payments Payments" described in Section 6.1 hereof and the other payments and benefits described herein in the event the Executive's employment with the Company is (or, under the terms of this Agreement, is deemed to have been) terminated following a Change in Control and during the term of this Agreement. Except as provided herein, no No amount or benefit shall be payable under this Agreement unless there shall have been (or, under the terms of this Agreementhereof, there shall be deemed to have been) a termination of the Executive's employment with the Company following a Change in Control and during the term of this AgreementControl. This Agreement shall not be construed as creating an express or implied contract of employment prior to the date of a Change in Control and, except as otherwise agreed in writing between the Executive and the Company, including the Employment Agreement dated November 9, 1999, the Executive shall not have any right to be retained in the employment employ of the Company.

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's covenants set forth in Section 3 4.0 hereof, the Company agrees, under the conditions described herein, to pay the Executive the "Severance Payments Payments" described in Section 6.1 hereof and the other payments and benefits described herein in the event the Executive's employment with the Company is (or, under the terms of this Agreement, is deemed to have been) terminated following a Change in Control and during the term of this Agreement. Except as provided herein, no No amount or benefit shall be payable under this Agreement unless there shall have been (or, under the terms of this Agreementhereof, there shall be deemed to have been) a termination of the Executive's employment with the Company following a Change in Control and during the term of this AgreementControl. This Agreement shall not be construed as creating an express or implied contract of employment prior to the date of a Change in Control and, except as otherwise agreed in writing between the Executive and the Company, including the Employment Agreement dated December 5, 1997, the Executive shall not have any right to be retained in the employment employ of the Company.

Company's Covenants Summarized. In order to induce the Executive to ------------------------------ remain in the employ of the Company and in consideration of the Executive's covenants set forth in Section 3 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described herein in the event the Executive's employment with the Company is (or, under the terms of this Agreement, is deemed to have been) terminated following a Change in Control and during the term of this Agreement. Except as provided herein, no amount or benefit shall be payable under this Agreement unless there shall have been (or, under the terms of this Agreement, there shall be deemed to have been) a termination of the Executive's employment with the Company following a Change in Control and during the term of this Agreement. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employment of the Company.