One Year Contract; Annual Renewal. The term of Executive's employment under this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of one year. Commencing on the first anniversary date of this Agreement (the "Anniversary Date") and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is always one year provided, however, that in order for the Agreement to renew, the disinterested members of the Board of Directors of the Bank (the "Board") must take the following actions prior to each non-renewal notice period (as described in the next sentence): (i) at least sixty (60) days prior to the Anniversary Date, conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend the Agreement; and (ii) affirmatively approve the renewal or non-renewal of the Agreement, which decision shall be included in the minutes of the Board's meeting. If the decision of such disinterested members of the Board is not to renew the Agreement, then the Board shall provide the Executive with a written notice of non-renewal ("Non-Renewal Notice") at least thirty (30) days and not more than sixty (60) days prior to any Anniversary Date, such that this Agreement shall terminate at the end of twelve (12) months following such Anniversary Date.
One Year Contract; Annual Renewal. The term of this Agreement will begin as of the Effective Date and will continue through December 31, 2021 (the “Term”). Commencing on January 1, 2022 and continuing on each January 1st thereafter (the “Renewal Date”), the Term will extend automatically for one additional year, so that the Term will be one (1) year from such Renewal Date, unless either the Bank or Executive by written notice to the other given at least sixty (60) days prior to such Renewal Date notifies the other of its intent not to extend the same. In the event that notice not to extend is given by either the Bank or the Executive, this Agreement will terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the “Term” for purposes of this Agreement. At least thirty (30) days prior to the Renewal Date, the disinterested members of the Board of Directors of the Bank (the “Board”) will conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the Board’s meeting.
One Year Contract; Annual Renewal. The term of Executive's employment under this Agreement shall commence as of the Effective Date and shall continue for a period of one (1) year (the "Employment Period"). Commencing on the first anniversary date of the Effective Date, and continuing at each anniversary date thereafter (the "Anniversary Date"), the Agreement shall renew for an additional year such that the remaining term shall be one (1) year; provided, however, if written notice of nonrenewal is provided to Executive at least thirty (30) days and not more than sixty (60) days prior to an Anniversary Date, the term of this Agreement shall not so renew, provided further that on an annual basis prior to the issuance of the notice of nonrenewal or the deadline for the notice period referenced above, which ever comes first, the Board shall conduct a performance review of Executive for purposes of determining whether to provide notice of nonrenewal. If (i) timely notice is not delivered to the Executive, or (ii) if such performance review is not conducted as required above and its related findings provided in its entirety to the Executive, the Agreement shall be automatically extended for an additional year.
One Year Contract; Annual Renewal. The term of this Agreement will begin as of the Effective Date and shall continue thereafter for a period of one (1) year. Beginning on the first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the term of this Agreement shall be extended for a period of one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, the disinterested members of the Board of Directors of the Bank (the “Board”) have explicitly reviewed and approved the extension and the results thereof shall be included in the minutes of the Board’s meeting. On an annual basis prior to the deadline for the notice period referenced above, the Board shall conduct a performance review of the Executive for purposes of determining whether to provide notice of non-renewal. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms.
One Year Contract; Annual Renewal. The term of this Agreement will begin as of the Effective Date and shall continue thereafter for a period of one (1) year. Beginning on the annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the term of this Agreement shall be extended for a period of one year in addition to the then-remaining term; provided that (1) the Association has not given notice to the Executive in writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, the disinterested members of the Board of Directors of the Association (the “Board”) have explicitly reviewed and approved the extension and the results thereof shall be included in the minutes of the Board’s meeting. On an annual basis prior to the deadline for the notice period referenced above, the Board shall conduct
One Year Contract; Annual Renewal. The term of this Agreement shall continue through May 30, 2023. Commencing on May 31, 2023 and on each May 31 thereafter (each, a “Renewal Date”), the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is one year from such Renewal Date; provided, however, that the members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Renewal Date: (i) at least thirty (30) days prior to the Renewal Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to not extend this Agreement; and (ii) if the decision of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Renewal Date, such that this Agreement shall terminate at the end of the remaining term. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then, on the date of such agreement, the term of this Agreement shall be extended and shall terminate one year following the date on which the Change in Control occurs.”
