NO MULTIPLE SEVERANCE PAYMENTS. If the Executive receives payment under Section 7.1 he shall not be entitled to any additional severance benefits under Section 6.4 of this Employment Agreement.
Appears in 5 contracts
Samples: Employment Agreement (Bank of Wilmington CORP), Employment Agreement (Crescent Financial Corp), Employment Agreement (Citizens South Banking Corp)
NO MULTIPLE SEVERANCE PAYMENTS. If the Executive receives payment under Section 7.1 5.1 he shall not be entitled to any additional severance benefits under Section 6.4 4.4 of this Employment Agreement.
Appears in 4 contracts
Samples: Employment Agreement (Southern Community Financial Corp), Employment Agreement (Southern Community Financial Corp), Employment Agreement (Southern Community Financial Corp)
NO MULTIPLE SEVERANCE PAYMENTS. If the Executive receives payment under Section 7.1 Article 6 he shall not be entitled to any additional severance benefits under Section 6.4 4.4 of this Employment Agreement.
Appears in 3 contracts
Samples: Employment Agreement (Paragon Commercial CORP), Employment Agreement (Paragon Commercial CORP), Employment Agreement (Paragon Commercial CORP)
NO MULTIPLE SEVERANCE PAYMENTS. If the Executive receives payment under Section 7.1 he shall not be entitled to any additional severance benefits under Section 6.4 6.4(a) of this Employment Agreement.
Appears in 3 contracts
Samples: Employment Agreement (BNC Bancorp), Employment Agreement (BNC Bancorp), Employment Agreement (BNC Bancorp)
NO MULTIPLE SEVERANCE PAYMENTS. If the Executive receives payment under Section 7.1 7.1(c) he shall not be entitled to any additional severance benefits under Section 6.4 6.5(a) of this Employment Agreement.
Appears in 2 contracts
Samples: Employment Agreement (Premierwest Bancorp), Employment Agreement (Premierwest Bancorp)
NO MULTIPLE SEVERANCE PAYMENTS. If the Executive receives payment under Section 7.1 he shall not be entitled to any additional severance benefits under Section 6.4 of this Employment Agreement.
Appears in 2 contracts
Samples: Employment Agreement (Citizens South Banking Corp), Employment Agreement (Citizens South Banking Corp)
NO MULTIPLE SEVERANCE PAYMENTS. If the Executive receives payment under Section 7.1 of the full amount of the Change in Control payments to which he is entitled as the result of termination of employment after a Change in Control, he shall not be entitled to any additional severance benefits under Section 6.4 of this Employment Agreement.
Appears in 1 contract
