Common use of Events Causing Termination Clause in Contracts

Events Causing Termination. Your employment hereunder shall continue until the end of the Original Term, as such term may be extended herein, unless terminated earlier as follows: (i) by your death; (ii) by the Corporations, at their option, upon written notice to you, upon your physical or mental incapacity or inability to perform services as contemplated hereby (as reasonably determined by the Corporations' Boards of Directors) for a period of at least 180 days; (iii) by the Corporations, at their option, upon written notice to you, for Cause (as defined in Section 4(b) below); (iv) by the Corporations, at their option, without Cause, upon thirty (30) days prior written notice to you; (v) by you, at your option, for Good Reason (as defined in Section 4(b) below), upon written notice to the Chairs of the Corporations' Boards of Directors; or (vi) by you, without Good Reason, upon thirty (30) days prior written notice to the Chairs of the Corporations' Boards of Directors.

Appears in 2 contracts

Samples: Merchants Bancshares Inc, Merchants Bancshares Inc

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Events Causing Termination. Your employment hereunder shall continue until the end of the Original Term, as such term may be extended herein, unless terminated earlier as follows: (i) by your death; (ii) by the CorporationsCorporation, at their option, upon written notice to you, upon your physical or mental incapacity or inability to perform services as contemplated hereby (as reasonably determined by the Corporations' Corporation's Boards of Directors) for a period of at least 180 days; (iii) by the CorporationsCorporation, at their option, upon written notice to you, for Cause (as defined in Section 4(b) below); (iv) by the CorporationsCorporation, at their option, without Cause, upon thirty (30) days prior written notice to you; (v) by you, at your option, for Good Reason (as defined in Section 4(b) below), upon written notice to the Chairs Chair of the Corporations' Corporation's Boards of Directors; or (vi) by you, without Good Reason, upon thirty (30) days prior written notice to the Chairs Chair of the Corporations' Corporation's Boards of Directors.

Appears in 2 contracts

Samples: Merchants Bancshares Inc, Merchants Bancshares Inc

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