No Employment Agreement Created. No provision of this Agreement shall be deemed to restrict or in any way limit the existing employment agreement between the Bank and the Executive. It is not intended that any of the provisions of this Agreement create any specific employment rights for the Executive or limit the right of the Bank to discharge the Executive with or without cause. Likewise, no provision of this Agreement shall limit the Executive's rights to terminate his employment at any time.
No Employment Agreement Created. Nothing herein shall be deemed to constitute an employment agreement between the Employee and PCA or any Subsidiary. The Employee acknowledges and agrees that the sole purpose of this document is to confirm the Continuation Benefit that PCA will pay to the Employee if on or after a Change in Control of PCA, the Employee's employment by PCA is terminated without Good Cause, or if the Employee resigns from employment by PCA due to his or her Demotion without Good Cause. The Employee further acknowledges and agrees that his or her employment by PCA is employment at will, and that PCA may terminate such employment at any time without the payment of any severance compensation or other benefit to the Employee, other than that required by law or as specifically provided in this Agreement.
No Employment Agreement Created. No provision of this Agreement shall be deemed to restrict or limit any existing employment agreement by and between the Bank and the Director, nor shall any conditions herein create specific employment rights to the Director nor limit the right of the Employer to discharge the Director with or without cause. In a similar fashion, no provision shall limit the Director's rights to voluntarily sever his employment at any time.
No Employment Agreement Created. No provision of this Agreement shall affect any employment agreement between the Company and the Participant nor shall conditions herein create specific employment rights to the Participant nor limit the right of the Company to discharge the Participant or change the terms and conditions of the Participant’s employment at any time. No provision of this Agreement shall limit the Participant’s rights to voluntarily sever his employment at any time.
