Common use of Employment; Position; Term Clause in Contracts

Employment; Position; Term. Employer hereby employs Executive, and Executive agrees to be so employed, in the capacity of Chief Executive Officer of Employer for a term commencing as of the Effective Date and ending on the third anniversary of the Effective Date (“Term of Employment”); provided, however, that, commencing on the date one year after the Effective Date, and on each annual anniversary of such date (such date and each annual anniversary thereof, a “Renewal Date”), unless previously terminated, the Term of Employment shall be automatically extended so as to terminate three years from such Renewal Date, unless, at least 60 days prior to the Renewal Date, either Employer or Executive gives notice to the other that the Term of Employment shall not be so extended (“Notice of Non-Renewal”). By way of example, in the absence of a Notice of Non-Renewal, the Term of Employment starting July 1, 2015 shall be extended on July 1, 2016 from a term ending on July 1, 2018 to a term ending on July 1, 2019. Upon the timely delivery by either party of a Notice of Non-Renewal, the Term of Employment shall no longer be subject to the automatic extension provided for herein, but rather shall expire upon the conclusion of the then Term of Employment (“Expiration of Term Due to Non-Renewal”).

Employment; Position; Term. Employer hereby employs Executive, and Executive agrees to be so employed, in the capacity of Chief Executive Officer of Employer for a term commencing as of the Effective Date and ending on the third anniversary of the Effective Date (“Term of Employment”); provided, however, that, commencing on the date one year after the Effective Date, and on each annual anniversary of such date (such date and each annual anniversary thereof, a “Renewal Date”), unless previously terminated, the Term of Employment shall be automatically extended so as to terminate three years from such Renewal Date, unless, at least 60 days prior to the Renewal Date, either Employer or Executive gives notice to the other that the Term of Employment shall not be so extended (“Notice of Non-Renewal”). By way of example, in the absence of a Notice of Non-Renewal, the Term of Employment starting July 1June 5, 2015 2024 shall be extended on July 1June 5, 2016 2025 from a term ending on July 1June 5, 2018 2027 to a term ending on July 1June 5, 20192028. Upon the timely delivery by either party of a Notice of Non-Renewal, the Term of Employment shall no longer be subject to the automatic extension provided for herein, but rather shall expire upon the conclusion of the then Term of Employment (“Expiration of Term Due to Non-Renewal”).

Employment; Position; Term. Employer hereby employs Executive, and Executive agrees to be so employed, employed as an active employee and to serve in the capacity of Chief Executive Officer Chairman of Employer the Board of Directors of both Company and Bank for a term commencing as of the Effective Date and ending on the third anniversary of the Effective Date (“Term Date(“Term of Employment”); provided, however, that, commencing on the date one year after the Effective Date, and on each annual anniversary of such date (such date and each annual anniversary thereof, a “Renewal Date”), unless previously terminated, the Term of Employment shall be automatically extended so as to terminate three years from such Renewal Date, unless, at least 60 days prior to the Renewal Date, either Employer or Executive gives notice to the other that the Term of Employment shall not be so extended (“Notice of Non-Renewal”). By way of example, in the absence of a Notice of Non-Renewal, the Term of Employment starting July 1, 2015 shall be extended on July 1, 2016 from a term ending on July 1, 2018 to a term ending on July 1, 2019. Upon the timely delivery by either party of a Notice of Non-Renewal, the Term of Employment shall no longer be subject to the automatic extension provided for herein, but rather shall expire upon the conclusion of the then Term of Employment (“Expiration of Term Due to Non-Renewal”).

Employment; Position; Term. Employer hereby employs Executive, and Executive agrees to be so employed, in the capacity employed as President of Chief Executive Officer Company and President of Employer Bank for a term commencing as of the Effective Date and ending on the third anniversary of the Effective Date (“Term of Employment”); provided, however, that, commencing on the date one year after the Effective Date, and on each annual anniversary of such date (such date and each annual anniversary thereof, a “Renewal Date”), unless previously terminated, the Term of Employment shall be automatically extended so as to terminate three years from such Renewal Date, unless, at least 60 days prior to the Renewal Date, either Employer or Executive gives notice to the other that the Term of Employment shall not be so extended (“Notice of Non-Renewal”). By way of example, in the absence of a Notice of Non-Renewal, the Term of Employment starting July 1, 2015 shall be extended on July 1, 2016 from a term ending on July 1, 2018 to a term ending on July 1, 2019. Upon the timely delivery by either party of a Notice of Non-Renewal, the Term of Employment shall no longer be subject to the automatic extension provided for herein, but rather shall expire upon the conclusion of the then Term of Employment (“Expiration of Term Due to Non-Renewal”).