Employees Rights Upon Termination. In the event that this Agreement is terminated by the Corporation for Cause, Employee shall receive all Base Salary and benefits earned through Employee’s final day of employment. In the event that this Agreement is terminated by the Corporation without Cause, Employee shall receive all Base Salary and benefits earned through Employee’s final day of employment, as well as a severance payment equal to one (1) times Employee’s current annual Base Salary. Any earned but unpaid Base Salary and benefits, as well as the severance payment shall be paid to Employee within thirty (30) days of Employee’s final day of employment. Upon termination for any reason, Employee shall be required to deliver to the Corporation any Bank or Holding Company assets. Employee’s rights upon termination shall be subject to determinations of safety, soundness and fairness of any and all of the Bank’s or Holding Company’s regulatory entities.
Employees Rights Upon Termination. In the event that this Agreement is terminated by Bank for Cause, Employee shall receive all Base Salary and benefits earned through Employee’s final day of employment. Any earned but unpaid Base Salary and benefits shall be paid to Employee within thirty (30) days of Employee’s final day of employment. Employee’s rights upon termination shall be subject to determinations of safety, soundness and fairness of any and all regulatory entities.
Employees Rights Upon Termination. In the event that this Agreement is terminated by the Company for Cause, Employee shall receive all Base Salary and benefits, earned through Employee’s final day of employment. In the event that Employee terminates his employment for Good Cause, the Company shall pay to Employee an amount equal to the Base Salary for the remaining term of the agreement, subject to any necessary regulatory approval. In the event that the Company terminates Employee without Cause, the Company shall pay to Employee an amount equal to the Base Salary for the remaining term of the agreement, subject to any necessary regulatory approval. Any such Base Salary shall be paid to Employee within 30 days of Employee’s final day of employment. Upon termination for any reason, Employee shall be required to deliver to the Company any Company assets.
Employees Rights Upon Termination. In the event that this Agreement is terminated by Bank without cause or is terminated by Employee for Good Reason, Employee shall receive all Base Salary to be paid according to this Agreement through February 28, 2003 plus one (1) years Base Salary. Such amount shall be paid on an accelerated basis in a lump-sum on the termination date. Additionally, Employee shall be entitled to participate, at the Bank's expense, in the employee benefits provided pursuant to Section 2.3 above for one (1) year from the termination date. The stock option entitlement under Section 2.5 shall remain in full force and effect through March 1, 2006. Employee's rights upon termination shall be subject to determinations of safety, soundness and fairness of any and all regulatory entities. In the event that this Agreement is terminated by Bank for Cause, Employee shall be entitled to receive all pay and benefits earned through the date of termination with any benefits being paid in arrears being pro rated through the date of termination. The stock option entitlement under Section 2.5 shall terminate thirty (30) business days after such termination by Bank for cause.
Employees Rights Upon Termination. Upon death or Disability of EMPLOYEE, COMPANY shall have no further obligation to EMPLOYEE under the Agreement except to distribute to EMPLOYEE's estate or designated beneficiary any unpaid compensation and reimbursable expenses earned by EMPLOYEE prior to EMPLOYEE's death or date of termination. Upon termination of EMPLOYEE's employment by COMPANY without cause, COMPANY shall have not further obligation to EMPLOYEE under this Agreement except to distribute to EMPLOYEE: Any compensation and reimbursable expenses owed by COMPANY through the termination date, and Severance compensation totaling three (3) months base pay plus two (2) weeks base pay for each complete year of EMPLOYEE's service with COMPANY, determined at EMPLOYEE's then current rate of base pay. EMPLOYEE's prior years of employment with COMPANY will be included for purposes of this calculation. Notwithstanding the above, EMPLOYEE's severance will not be less than six months of base pay. No severance compensation shall be owing pursuant to this paragraph unless EMPLOYEE concurrently executes standard form release of all claims against COMPANY. Severance compensation pursuant to this paragraph shall be in lieu of any other severance benefit to which EMPLOYEE would otherwise be entitled under COMPANY's policies in effect on the date of execution of this Agreement. Severance compensation shall be paid upon termination of EMPLOYEE's employment and in one lump sum payment at the date of termination. Severance compensation pursuant to this paragraph shall be in lieu of any other severance benefit to which EMPLOYEE would otherwise be entitled under COMPANY's policies in effect on the date of execution of this Agreement or thereafter. Applicable severance compensation shall be paid in one lump sum, less applicable withholdings. Upon termination of EMPLOYEE's employment for Cause COMPANY shall have no further obligation to EMPLOYEE under this Agreement except to distribute to EMPLOYEE: Any compensation and reimbursable expenses owed by COMPANY through the termination date. COVENANTS
Employees Rights Upon Termination. A. In the event that this Agreement is terminated by Bank without cause or is terminated by Employee for Good Reason, Employee shall receive all Base Salary to be paid according to this Agreement through February 28, 2004 plus one (1) years Base Salary. Such amount shall be paid on an accelerated basis in a lump-sum on the termination date. Additionally, Employee shall be entitled to participate, at the Bank’s expense, in the employee benefits provided pursuant to Section 2.3 above for one (1) year from the termination date. The stock option entitlement under Section 2.5 shall remain in full force and effect through March 1, 2006. Employee’s rights upon termination as provided for in this Section 4.4A shall be subject to reduction or elimination by the Board of Directors in the event the Bank:
Employees Rights Upon Termination. In the event that this Agreement is terminated by Holding Company for Cause, Employee shall receive all Base Salary and benefits earned through Employee’s final day of employment. In the event that this Agreement is terminated by Bank without Cause, Employee shall receive all Base Salary and benefits earned through Employee’s final day of employment. Any earned but unpaid Base Salary and benefits shall be paid to Employee within thirty (30) days of Employee’s final day of employment. Upon termination for any reason, Employee shall be required to deliver to Holding Company and Bank any Holding Company or Bank assets. Employee’s rights upon termination shall be subject to determinations of safety, soundness and fairness of any and all of the Holding Company’s or Bank’s regulatory entities.
Employees Rights Upon Termination. In the event the ---------------------------------- Company elects not to renew Employee's employment, and the Employee provides to the Company in a form satisfactory to the Company a release and waiver of any and all claims and rights which the Employee may then have or be capable of asserting against the Company, the Company shall pay to the Fmployee a lump sum severance payment equal to the Employee's annual base salary as of the date of termination. Such payment shall be made within thirty (30) days or for balance of term of Agreement from the date of termination. The severance payment described in this paragraph shall be in lieu of any other obligations of the Company to the Employee or rights or claims of the Employee against the Company.
Employees Rights Upon Termination. Upon termination of this Agreement, Employee shall be entitled to the following:
Employees Rights Upon Termination. In the event that this Agreement is terminated by Bank without cause, Employee shall receive all Base Salary to be paid according to this Agreement through the remaining current term of this Agreement, plus six (6) months Base Salary. Such amount shall be paid on an accelerated basis in a lump-sum on the termination date. Additionally, Employee shall be entitled to participate, at the Bank’s expense, in the employee benefits provided pursuant to Section 2.3 above for six (6) months from the termination date. The stock option entitlement under Section 2.5 shall remain in full force and effect through May 19, 2008. Employee’s rights upon termination shall be subject to determinations of safety, soundness and fairness of any and all appropriate regulatory entities. In the event that this Agreement is terminated by CSB or Bank for Cause, Employee shall be entitled to receive all pay and benefits earned through the date of termination with any benefits being paid in arrears being pro rated through the date of termination. The stock option entitlement under Section 2.5 shall terminate thirty (30) business days after such termination by Bank for Cause. Anything to the contrary herein notwithstanding, in the event that Bank or CSB shall terminate the employment of Employee without Cause within 90 days prior to the occurrence of a Change in Control, or at any time without Cause following a Change in Control, Employee shall be eligible to receive the Change in Control benefits set forth in Sections 7.2(a), (b), and (c) herein in place of the termination benefits otherwise provided in this Subsection 4.4.
