Common use of Consideration of Benefit Clause in Contracts

Consideration of Benefit. As consideration for the benefit paid in this Section 6, the Employee (provided that the Employee is employed by the Company on the date of a Change in Control), at the discretion of the successor organization (as contemplated in Section 14(a)), expressed in writing, hereby agrees that, notwithstanding the Employee’s election to terminate this Agreement for Good Reason pursuant to Section 14(a) hereof, the Employee will continue in the employ of the successor organization for a period of no less than six (6) months after the date of the Change in Control, at the same Base Salary and level of benefits being provided to the Employee, as of such date, pursuant to Section 4 hereof, exclusive of any compensation that might otherwise be provided to Employee under Section 4(b) hereof. Further, the Employee shall receive payment of the amount of the Employee’s Change in Control Benefit, pursuant to the Employee’s previous election to terminate this Agreement for Good Reason under Section 14(a), within thirty (30) days from date of expiration of said six-month period or, if earlier than the expiration of said six-month period, within thirty (30) days from the date of a subsequent termination of employment by the Employee for Good Reason (as contemplated below in this Section 6(c)) or from the date of a subsequent termination of the employment of the Employee by the Company without Cause. However, if the Employee fails to remain employed for at least six (6) months with the successor organization (for any reason other than a subsequent termination of employment by the Employee for Good Reason, as provided in item (1) below, or a subsequent termination of the employment of the Employee by the Company without Cause), or if the Company terminates the Employee’s employment for Cause (as provided in item (2) below), then no benefits will be payable to the Employee pursuant to this Section 6; provided, that, if the Employee has previously elected to terminate this Agreement for Good Reason, pursuant to Section 14(a):

Consideration of Benefit. As consideration for the benefit paid in this Section 6, the Employee (provided that the Employee is employed by the Company Bank on the date of a Change in Control), at the discretion of the successor organization (as contemplated in Section 14(a)), expressed in writing, hereby agrees that, notwithstanding the Employee’s election to terminate this Agreement for Good Reason pursuant to Section 14(a) hereof, the Employee will continue in the employ of the successor organization for a period of no less than six (6) months after the date of the Change in Control, at the same Base Salary and level of benefits being provided to the Employee, as of such date, pursuant to Section 4 hereof, exclusive of any compensation that might otherwise be provided to Employee under Section 4(b) hereof. Further, the Employee shall receive payment of the amount of the Employee’s Change in Control Benefit, pursuant to the Employee’s previous election to terminate this Agreement for Good Reason under Section 14(a), within thirty (30) days from date of expiration of said six-month period or, if earlier than the expiration of said six-month period, within thirty (30) days from the date of a subsequent termination of employment by the Employee for Good Reason (as contemplated below in this Section 6(c)) or from the date of a subsequent termination of the employment of the Employee by the Company Bank without Cause. However, if the Employee fails to remain employed for at least six (6) months with the successor organization (for any reason other than a subsequent termination of employment by the Employee for Good Reason, as provided in item (1) below, or a subsequent termination of the employment of the Employee by the Company Bank without Cause), or if the Company Bank terminates the Employee’s employment for Cause (as provided in item (2) below), then no benefits will be payable to the Employee pursuant to this Section 6; provided, that, if the Employee has previously elected to terminate this Agreement for Good Reason, pursuant to Section 14(a):