Common use of For Cause; Other Than for Good Reason Clause in Contracts

For Cause; Other Than for Good Reason. If the Executive’s employment is terminated for Cause or if the Executive voluntarily terminates his employment other than for Good Reason, this Agreement shall terminate without any further obligation of the Bank to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following termination and the payment of any benefits due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 3 contracts

Samples: Employment Agreement (Virginia Commerce Bancorp Inc), Employment Agreement (Virginia Commerce Bancorp Inc), Employment Agreement (Virginia Commerce Bancorp Inc)

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For Cause; Other Than for Good Reason. If the Executive’s 's employment is terminated for Cause or if the Executive voluntarily terminates his employment other than for Good Reason, within two (2) years after a Change of Control, this Agreement shall terminate without any further obligation of the Bank to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following after the date of termination of employment but not later than thirty (30) days thereafter, and the payment of any vested and irrevocable benefits (excluding incentive compensation) due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 3 contracts

Samples: Employment Agreement (Old Point Financial Corp), Employment Agreement (Old Point Financial Corp), Employment Agreement (Old Point Financial Corp)

For Cause; Other Than for Good Reason. If the Executive’s 's employment is terminated by the Bank for Cause or if the Executive voluntarily terminates his employment other than for Good Reason, this Agreement shall terminate without any further obligation of the Bank to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum termination, as soon as administratively feasible following after the date of termination of employment but not later than thirty (30) days thereafter, and the payment of any vested and irrevocable benefits (excluding incentive compensation) due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 3 contracts

Samples: Employment Agreement (Old Point Financial Corp), Employment Agreement (Old Point Financial Corp), Employment Agreement (Old Point Financial Corp)

For Cause; Other Than for Good Reason. If the Executive’s employment is terminated for Cause or if the Executive voluntarily terminates his employment other than for Good Reason, within one (1) year after a Change of Control, this Agreement shall terminate without any further obligation of the Bank to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following termination and the payment of any benefits due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 3 contracts

Samples: Employment Agreement (Virginia Commerce Bancorp Inc), Employment Agreement (Virginia Commerce Bancorp Inc), Employment Agreement (Virginia Commerce Bancorp Inc)

For Cause; Other Than for Good Reason. If the Executive’s employment is terminated for Cause or if the Executive voluntarily terminates his employment other than for Good Reason, within one (1) year after a Change of Control, this Agreement shall terminate without any further obligation of the Bank Company to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following termination and the payment of any benefits due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 2 contracts

Samples: Employment Agreement (Virginia Commerce Bancorp Inc), Employment Agreement (Virginia Commerce Bancorp Inc)

For Cause; Other Than for Good Reason. If the Executive’s employment is terminated for Cause or if the Executive voluntarily terminates his employment other than for Good Reason, this Agreement shall terminate without any further obligation of the Bank Company to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following termination and the payment of any benefits due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 2 contracts

Samples: Employment Agreement (Virginia Commerce Bancorp Inc), Employment Agreement (Virginia Commerce Bancorp Inc)

For Cause; Other Than for Good Reason. If the Executive’s employment is terminated for Cause or if the Executive voluntarily terminates his her employment other than for Good Reason, within one (1) year after a Change of Control, this Agreement shall terminate without any further obligation of the Bank to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following termination and the payment of any benefits due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 1 contract

Samples: Employment Agreement (Virginia Commerce Bancorp Inc)

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For Cause; Other Than for Good Reason. If the Executive’s 's employment is terminated by the Trust Company for Cause or if the Executive voluntarily terminates his employment other than for Good Reason, this Agreement shall terminate without any further obligation of the Bank Trust Company to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum termination, as soon as administratively feasible following after the date of termination of employment but not later than thirty (30) days thereafter, and the payment of any vested and irrevocable benefits (excluding incentive compensation) due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 1 contract

Samples: Employment Agreement (Old Point Financial Corp)

For Cause; Other Than for Good Reason. If the Executive’s 's employment is terminated for Cause or if the Executive voluntarily terminates his employment other than for Good Reason, within two (2) years after a Change of Control, this Agreement shall terminate without any further obligation of the Bank Trust Company to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following after the date of termination of employment but not later than thirty (30) days thereafter, and the payment of any vested and irrevocable benefits (excluding incentive compensation) due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 1 contract

Samples: Employment Agreement (Old Point Financial Corp)

For Cause; Other Than for Good Reason. If the Executive’s employment is terminated for Cause or if the Executive voluntarily terminates his her employment other than for Good Reason, this Agreement shall terminate without any further obligation of the Bank to the Executive other than the payment to the Executive of any unpaid base salary for the time worked through the date of termination payable in a lump sum as soon as administratively feasible following termination and the payment of any benefits due and owing pursuant to the terms of any plans, policies or programs, payable when otherwise due.

Appears in 1 contract

Samples: Employment Agreement (Virginia Commerce Bancorp Inc)

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