Employment and Employment Period. During the period specified in this Section 1, Employer shall employ Executive, and Executive shall serve Employer, on the terms and subject to the conditions set forth herein. The term of Executive's employment under this Agreement shall commence on the date hereof (the "Effective Date") and, subject to prior termination as provided in Section 6 below, shall continue through the fifth anniversary of the Effective Date, The term of Executive's employment under this Agreement is sometimes referred to below as the "Employment Period."
Employment and Employment Period. The Bank hereby employs the Executive and the Executive agrees to be employed by the Bank, on the terms and conditions set forth in this Agreement, for a period commencing on the date hereof and continuing thereafter until December 31, 2018 (the “Term”). Commencing on January 1, 2018, and on each January 1 thereafter (each, a “Renewal Date”), the Term shall extend automatically for one additional year, so that the Term shall be two-years from such Renewal Date, unless either the Bank or the Executive by written notice to the other given at least ninety (90) days prior to such Renewal Date notifies the other of its intent not to extend the same. In the event that notice not to extend is given by either the Bank or the Executive, this Agreement shall terminate as of the last day of then current Term. In the event a Change in Control (as defined below) occurs during the initial Term or the extended Term, the Term shall be extended automatically so that it is scheduled to expire no less than twenty-four (24) months beyond the effective date of the Change in Control, subject to extension as set forth above.
Employment and Employment Period. The Company hereby continues to employ the Executive, and the Executive hereby accepts such continuation of employment with the Company, for the purposes and upon the terms and conditions contained in this Agreement. The term of this Agreement is effective for a period commencing on the Effective Date and continuing through the close of business on March 31, 2015 (the “Initial Period”), subject to earlier termination as provided in Section 9. Beginning on January 1, 2015 and each January 1 thereafter (each such January 1, a “Renewal Date”), the then remaining term of this Agreement shall be extended automatically without further action or notice by either party hereto for an additional one (1) year period (each such additional one (1) year period, a “Renewal Period”) unless and until terminated as provided in Section 9. As used in this Agreement, the term “Employment Period” means the Initial Period and each Renewal Period (if any) until terminated as provided in Section 9.
Employment and Employment Period. Ascent shall employ the -------------------------------- Executive to serve as Executive Vice President, Finance and Chief Financial Officer of Ascent or its successor entity for a period (the "Employment Period") commencing on January 25, 2000 (the "Effective Date") and continuing thereafter until June 27, 2003 unless terminated in accordance with the provisions of this Agreement. Each 12 month period ending on the anniversary date of the Effective Date is sometimes referred to herein as a "year of the Employment Period."
Employment and Employment Period. The Employer hereby employs the Executive and the Executive agrees to be employed by the Employer, on the terms and conditions set forth in this Agreement, for a period commencing on the Effective Date and ending on the third anniversary of the Effective Date, subject to earlier termination or extension as provided herein (the “Term”). On the first anniversary date of the Effective Date, and on each succeeding anniversary date (each, an “Anniversary Date”), the Term shall extend automatically for one additional year beyond the initial Term or the extended Term, as the case may be, so that the Term shall continue to be three (3) years from the date of such extension, unless either the Employer or the Executive by written notice to the other given at least ninety (90) days prior to such Anniversary Date notifies the other of its intent not to extend the same. In the event that notice not to extend is given by either the Employer or the Executive, this Agreement shall terminate as of the last day of the initial Term or such extended Term. Reference herein to the Term of this Agreement shall refer to both such initial Term and any extended Terms.
Employment and Employment Period. The Corporation shall employ the Executive to serve as the Corporation’s Chairman and Chief Executive Officer (initially also with the title of President) (the “Chairman/CEO”) for a period to be agreed upon by the Executive and the Compensation Committee of the Board of Directors (the “Compensation Committee”), such period currently expected to extend until on or about April 1, 2008 (the “CEO Period”, which until otherwise agreed shall, for purposes of this Agreement, be treated as extending through April 30, 2008), and thereafter (and after employment of a new Chief Executive Officer) as the Corporation’s Chairman of the Board (the “Chairman”) for the period ending December 31, 2011 (the “Chairman Only Period”, which until otherwise agreed shall, for purposes of this Agreement, be treated as commencing on May 1, 2008). The period ending December 31, 2011 is hereinafter sometimes referred to as the “Employment Period”. The Employment Period may be extended by mutual agreement of the parties.
Employment and Employment Period. The Company agrees to employ the Executive and the Executive agrees to be employed by the Company, on the terms and conditions set forth in this Agreement, for a period commencing on the date hereof and continuing thereafter until the earlier to occur of (a) the Executive's Normal Retirement Date under the Company's qualified retirement plan and (b) the termination of the Executive's employment pursuant to Section 5 (the "Employment Period").
Employment and Employment Period. During the period specified in this Section 1, Employer shall employ Executive, and Executive shall be employed by --------- Employer, on the terms and subject to the conditions set forth herein. The term of Executive's employment under this Agreement shall commence on February 1, 2001 (the "Effective Date") and, subject to prior termination as provided in -------------- Section 6 below, shall continue through the third anniversary of the Effective --------- Date (including any extensions provided for herein, the "Employment Period"); ----------------- provided, however, that the Employment Period automatically shall be extended -------- ------- for up to two (2) successive terms of one (1) year each unless either party advises the other, at least one hundred twenty (120) days prior to the end of the initial term or the first annual extension, as the case may be, that such party will not agree to extend this Agreement as herein provided.
Employment and Employment Period. The Company agrees to employ the Executive and the Executive agrees to accept such employment upon the terms and conditions set forth herein. Subject to the provisions for earlier termination hereinafter provided, the Executive's employment hereunder shall be for a term (the "Employment Period") commencing on the Effective Date and ending on the third anniversary of the Effective Date (the "Initial Termination Date"); provided, however, that this Agreement shall be automatically extended for one additional year on the Initial Termination Date and on each subsequent anniversary of the Initial Termination Date unless either the Executive or the Company elects not to so extend the term of the Agreement by notifying the other party, in writing, of such election not less than sixty (60) days prior to the last day of the term then in effect.
Employment and Employment Period. Ascent shall employ the Executive to serve as President and Chief Executive Officer of Ascent or its successor entity for a period (the "Employment Period") commencing on December 18, 1995 (the "Effective Date") and continuing thereafter for a term of five years until December 18, 2000 unless terminated in accordance with the provisions of this Agreement. The Executive shall also continue to serve as President of CVE but shall not receive any compensation for such position in addition to the compensation provided in this Agreement. In the event that Ascent desires to extend the employment of the Executive, it must give written notice of such desire by the third anniversary of the Effective Date, and after such notice the parties shall enter into an exclusive negotiation period of not less than six months, unless otherwise mutually agreed upon by the parties in writing. Each 12 month period ending on the anniversary date of the Effective Date is sometimes referred to herein as a "year of the Employment Period."
