No Obligation of Continued Employment. The Executive understands that this Agreement does not create an obligation on the part of the Corporation to continue the Executive’s employment with the Corporation after the expiration or termination of this Agreement.
No Obligation of Continued Employment. This Agreement imposes no obligation on the Company or Related Corporation to continue the employment of the Employee. The Company expressly reserves the right any time to dismiss or terminate its relationship with the Employee free from any liability or claim under this Agreement.
No Obligation of Continued Employment. I understand that this Agreement does not constitute a contract of employment or create an obligation on the part of the Company to continue my employment with the Company. I understand that my employment is “at will” and that my obligations under this Agreement shall not be diminished by any change in my position, title, or function with, or compensation by, the Company.
No Obligation of Continued Employment. While it is the intent of this Agreement to induce the Officer to continue employment with the Bank and the Company at the pleasure of the Company during the term of this Agreement, this Agreement does not in any way obligate either the Company or the Bank to continue the Officer's employment or any specific level of salary or benefits in connection therewith except as specifically provided herein, and the Officer shall not be entitled to any benefits hereunder in the event of termination of his employment prior to a Change in Control. The Officer agrees, however, in the event of exercise of his right to resign following a Change in Control, that, at the request of the Company made within five (5) days of notice of resignation, he will enter into an employment contract to continue employment for a specified period, up to six months, at the then existing compensation and benefits and in accordance with historical working conditions, for the purpose of maintaining the continuity of his job function during such period for the benefit of the Company; it being acknowledged and agreed that the salary continuation and benefits set forth above shall be paid in the time and manner provided above and without regard to the Officer's continued employment at the request of the Company.
No Obligation of Continued Employment. The Executive and the Corporation understand that this Agreement does not create an obligation on the part of the Corporation or the executive to continue the Executive’s employment with the Corporation after the termination of this Agreement. If the Corporation elects not to extend the Executive’s employment at the end of the two year term set forth in Section 1.3 for reasons other than Section 1.3 (a), (b), and (c), the Executive shall receive compensation following the end of his employment in a total amount equal to one half (1/2) of his annual base Salary, such compensation to be paid in twelve equal bi-monthly installments. The agreement to make such Salary payments shall constitute additional consideration in support of the Executive’s covenants under Section 2.1 and 2.2 hereof
No Obligation of Continued Employment. Employee understands that this Agreement does not create an obligation on the part of the Corporation to continue Employee's employment with the Corporation after the expiration or termination of this Agreement.
No Obligation of Continued Employment. The Executive and the Corporation understand that this Agreement does not create an obligation on the part of the Corporation or the executive to continue the Executive’s employment with the Corporation after the termination of this Agreement. The Corporation will give the Executive three (3) months notice prior to the end of the contract as to their intention for continued employment. If the Corporation elects not to extend the Executive§s employment at the end of the three year term set forth in Section 1.3 for reasons other than Section 1.3 (a), (b), and (c), the Executive’s Stock Options will be deemed accelerated and vested and subject to exercise by the Executive as well as any other vesting consideration due the Executive. If the Corporation does not elect to continue employment at the end of the Contract, and three (3) months notice of non-extension is not given to the Executive, Executive is entitled to (3) months Compensation as a severance.
No Obligation of Continued Employment. While it is the intent of this Agreement to induce the Officer to continue employment with the Bank and the Company at the pleasure of the Company during the term of this Agreement, this Agreement does not in any way obligate either the Company or the Bank to continue the Officer's employment or any specific level of salary or benefits in connection therewith except as specifically provided herein, and the Officer shall not be entitled to any benefits hereunder in the event of termination of his employment prior to a Change in Control. The Officer agrees, however, in the event of exercise of his right to resign following a Change in Control and a Change in Duties or Salary, that, at the request of the PALFED/Palmetto Federal Salary Continuation Agmt (May 1997) page 6
No Obligation of Continued Employment. Nothing contained in this Agreement shall be construed as creating any obligation on the part of the Company to employ or continue to employ the Employee.
