Common use of Compensation After Termination Clause in Contracts

Compensation After Termination. (i) If the Term of Employment is terminated (i) by Bank for cause or due to the death or disability of Executive, (ii) by Executive or (iii) through expiration of the Term of Employment, Bank shall have no further obligations hereunder or otherwise with respect to Executive's employment from and after the termination or expiration date (except payment of Executive's Base Salary accrued through the date of termination or expiration) and Bank shall continue to have all other rights available hereunder. (ii) If the Term of Employment is terminated by the Bank without cause, Executive shall be entitled to receive as severance pay (in addition to the payment of the Base Salary through the date of termination) an amount equal to Executive's Base Salary, payable within thirty (30) days of the end of the Term of Employment; provided, however, if the severance payment to Executive would cause Bank to contravene any law, regulation or policy applicable to Bank, Bank and Executive agree that such severance payment shall be made to the extent permitted by law, regulation and policy, and the remainder of such severance payment shall be made from time to time at the earliest time permitted by law, regulation and policy. After the 30th day following the end of the Term of Employment, the outstanding severance payment shall, until paid, bear interest per annum at the prime lending rate as published in the Southwest Edition of The Wall Street Journal on the 31st day following the end of the Term of Employment. In addition to the severance payment, Bank shall reimburse Executive in the maximum amount of $10,000.00 for reasonable expenses incurred by Executive in relocating from San Diego County, California upon receipt of evidence thereof. Except as otherwise specifically provided herein, Bank shall have no other obligations hereunder or otherwise with respect to Executive's employment from and after the termination or expiration date, and Bank shall continue to have all other rights available hereunder. (iii) No termination under Section 4 shall terminate or adversely affect any rights of Executive then vested under any disability or other benefit program of Bank.

Compensation After Termination. (i) If the Term of Employment is terminated (i) by Bank for cause or due to the death or disability of Executive, (ii) by Executive or (iii) through expiration of the Term of Employment, Bank shall have no further obligations hereunder or otherwise with respect to Executive's employment from and after the termination or expiration date (except payment of Executive's Base Salary accrued through the date of termination or expiration) and Bank shall continue to have all other rights available hereunder. (ii) If the Term of Employment is terminated by the Bank without cause, Executive shall be entitled to receive as severance pay (in addition to the payment of the Base Salary through the date of termination) an amount equal to Executive's Base Salary, payable within thirty (30) days of the end of the Term of Employment; provided, however, if the severance payment to Executive would cause Bank to contravene any law, regulation or policy applicable to Bank, Bank and Executive agree that such severance payment shall be made to the extent permitted by law, regulation and policy, and the remainder of such severance payment shall be made from time to time at the earliest time permitted by law, regulation and policy. After the 30th day following the end of the Term of Employment, the outstanding severance payment shall, until paid, bear interest per annum at the prime lending rate as published in the Southwest Edition of The Wall Street Journal on the 31st day following the end of the Term of Employment. In addition to the severance payment, Bank shall reimburse Executive in the maximum amount of $10,000.00 for reasonable expenses incurred by Executive in relocating from San Diego County, California upon receipt of evidence thereof. Except as otherwise specifically provided herein, Bank shall have no other obligations hereunder or otherwise with respect to Executive's employment from and after the termination or expiration date, and Bank shall continue to have all other rights available hereunder. (iii) No termination under Section 4 shall terminate or adversely affect any rights of Executive then vested under any disability or other benefit program of Bank.

Compensation After Termination. (i) If the Term of Employment is terminated (i) by Bank for cause or due to the death or disability of Executive, (ii) by Executive or (iii) through expiration of the Term of Employment, Bank shall have no further obligations hereunder or otherwise with respect to Executive's employment from and after the termination or expiration date (except payment of Executive's Base Salary accrued through the date of termination or expiration) and Bank shall continue to have all other rights available hereunder. (ii) If the Term of Employment is terminated by the Bank without cause, Executive shall be entitled to receive as severance pay (in addition to the payment of the Base Salary through the date of termination) an amount equal to Executive's Base Salary, payable within thirty (30) days of the end of the Term of Employment; provided, however, if the severance payment to Executive would cause Bank to contravene any law, regulation or policy applicable to Bank, Bank and Executive agree that such severance payment shall be made to the extent permitted by law, regulation and policy, and the remainder of such severance payment shall be made from time to time at the earliest time permitted by law, regulation and policy. After the 30th day following the end of the Term of Employment, the outstanding severance payment shall, until paid, bear interest per annum at the prime lending rate as published in the Southwest Edition of The Wall Street Journal on the 31st day following the end of the Term of Employment. In addition to the severance payment, Bank shall reimburse Executive in the maximum amount of $10,000.00 for reasonable expenses incurred by Executive in relocating from San Diego Los Angeles County, California upon receipt of evidence thereof. Except as otherwise specifically provided herein, Bank shall have no other obligations hereunder or otherwise with respect to Executive's employment from and after the termination or expiration date, and Bank shall continue to have all other rights available hereunder. (iii) No termination under Section 4 shall terminate or adversely affect any rights of Executive then vested under any disability or other benefit program of Bank.

Compensation After Termination. (i) If the Term of Employment is terminated (i) by Bank for cause or due to the death or disability of Executive, (ii) by Executive or (iii) through expiration of the Term of Employment, Bank shall have no further obligations hereunder or otherwise with respect to Executive's employment from and after the termination or expiration date (except payment of Executive's Base Salary accrued through the date of termination or expiration) and Bank shall continue to have all other rights available hereunder. (ii) If the Term of Employment is terminated by the Bank without cause, Executive shall be entitled to receive as severance pay (in addition to the payment of the Base Salary through the date of termination) an amount equal to Executive's Base Salary, payable within thirty (30) days of the end of the Term of Employment; provided, however, if the severance payment to Executive would cause Bank to contravene any law, regulation or policy applicable to Bank, Bank and Executive agree that such severance payment shall be made to the extent permitted by law, regulation and policy, and the remainder of such severance payment shall be made from time to time at the earliest time permitted by law, regulation and policy. After the 30th day following the end of the Term of Employment, the outstanding severance payment shall, until paid, bear interest per annum at the prime lending rate as published in the Southwest Edition of The Wall Street Journal on the 31st day following the end of the Term of Employment. In addition to the severance payment, Bank shall reimburse Executive in the maximum amount of $10,000.00 for reasonable expenses incurred by Executive in relocating from San Diego Orange County, California upon receipt of evidence thereof. Except as otherwise specifically provided herein, Bank shall have no other obligations hereunder or otherwise with respect to Executive's employment from and after the termination or expiration date, and Bank shall continue to have all other rights available hereunder. (iii) No termination under Section 4 shall terminate or adversely affect any rights of Executive then vested under any disability or other benefit program of Bank.