Common use of Payments on Termination Clause in Contracts

Payments on Termination. Upon termination of Executive's employment by the Company or the Bank, the Company and the Bank shall have the following payment obligations to Executive: (a) If the Executive's Employment is terminated due to illness of the Executive, the provisions of Section 6 shall apply. (b) If the Executive's Employment is terminated due to the death of the Executive, the provisions of Section 7 shall apply. (c) If the Executive's Employment is terminated by the Company other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 8 shall apply, and therefore the payment provisions of Section 9 apply. (d) If the Executive's Employment is terminated by the Bank other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 9 shall apply. (e) If the Executive's Employment is terminated by the Company for Cause, or by the Bank for Cause, the provisions of Section 10 shall apply. (f) If the Executive's Employment is terminated by the Executive as a result of a breach of the agreement by the Company or the Bank, the provisions of Section 3 apply, and therefore the payment provisions of Section 9 apply. (g) In the event of a Voluntary Termination of Executive's Employment as defined in Section 11, the provisions of Section 11 apply. (h) If the Executive's Employment is terminated by the Company or the Bank within twelve (12) months after a Change of Control of the Company, as defined in Section 12 above, or a Change of Control of the Bank, as defined in Section 13 above, or in Contemplation of a Change of Control of either, as defined in Section 14, the provisions of Section 14 shall apply. (i) If the Executive's Employment is terminated by the Executive for Good Reason, as defined in Section 15 above, the Executive's employment with the Company and with the Bank shall be deemed to have been terminated without Cause by the Company and by the Bank at the time of such termination by Executive for Good Reason. If such termination is during a period of Contemplation of Change of Control, or within twelve (12) months after a Change of Control, the provisions of Section 14 shall apply. (j) Termination of Executive's Employment by the Company or by the Bank or by the Executive shall be communicated by written Notice of Termination to the other parties hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a notice which shall indicate the specific termination provision(s) in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision so indicated.

Payments on Termination. Upon termination of Executive's employment by the Company or the Bank, the Company and the Bank shall have the following payment obligations to Executive: (a) If the Executive's Employment is terminated due to illness of the Executive, the provisions of Section 6 shall apply. (b) If the Executive's Employment is terminated due to the death of the Executive, the provisions of Section 7 shall apply. (c) If the Executive's Employment is terminated by the Company other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 8 shall apply, and therefore the payment provisions of Section 9 apply. (d) If the Executive's Employment is terminated by the Bank other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 9 shall apply. (e) If the Executive's Employment is terminated by the Company for Cause, or by the Bank for Cause, the provisions of Section 10 shall apply. (f) If the Executive's Employment is terminated by the Executive as a result of a breach of the agreement by the Company or the Bank, the provisions of Section 3 apply, and therefore the payment provisions of Section 9 apply. (g) In the event of a Voluntary Termination of Executive's Employment as defined in Section 11, the provisions of Section 11 apply. (h) If the Executive's Employment is terminated by the Company or the Bank within twelve (12) months after a Change of Control of the Company, as defined in Section 12 above, or a Change of Control of the Bank, as defined in Section 13 above, or in Contemplation of a Change of Control of either, as defined in Section 14, the provisions of Section 14 shall apply. (i) If the Executive's Employment is terminated by the Executive for Good Reason, as defined in Section 15 above, the Executive's employment with the Company and with the Bank shall be deemed to have been terminated without Cause by the Company and by the Bank at the time of such termination by Executive for Good Reason. If such termination is during a period of Contemplation of Change of Control, or within twelve (12) months after a Change of Control, the provisions of Section 14 shall apply. (j) Termination of Executive's Employment by the Company or by the Bank or by the Executive shall be communicated by written Notice of Termination to the other parties hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a notice which shall indicate the specific termination provision(s) in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision so indicated.

Payments on Termination. Upon termination of Executive's employment by the Company or the Bank, the Company and the Bank shall have the following payment obligations to Executive: (a) If the Executive's Employment employment is terminated due to illness of the Executive, the provisions of Section 6 shall apply. (b) If the Executive's Employment employment is terminated due to the death of the Executive, the provisions of Section 7 shall apply. (c) If the Executive's Employment employment is terminated by the Company other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 8 shall apply, and therefore the payment provisions of Section 9 apply. (d) If the Executive's Employment employment is terminated by the Bank other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 9 shall apply. (e) If the Executive's Employment employment is terminated by the Company for Cause, or by the Bank for Cause, the provisions of Section 10 shall apply. (f) If the Executive's Employment employment is terminated by the Executive as a result of a breach of the agreement by the Company or the Bank, the provisions of Section 3 apply, and therefore the payment provisions of Section 9 apply. (g) In the event of a Voluntary Termination of Executive's Employment employment as defined in Section 11, the provisions of Section 11 I I apply. (h) If the Executive's Employment employment is terminated by the Company or the Bank within twelve (12) months after a Change of Control of the Company, as defined in Section 12 above, or a Change of Control of the Bank, as defined in Section 13 above, or in Contemplation of a Change of Control of either, as defined in Section 14, the provisions of Section 14 shall apply. 11 27 (i) If the Executive's Employment employment is terminated by the Executive for Good Reason, as defined in Section 15 above, the Executive's employment with the Company and with the Bank shall be deemed to have been terminated without Cause by the Company and by the Bank at the time of such termination by Executive for Good Reason. If such termination is during a period of Contemplation of Change of Control, or within twelve (12) months after a Change of Control, the provisions of Section 14 shall apply. (j) Termination of Executive's Employment by the Company or by the Bank or by the Executive shall be communicated by written Notice of Termination to the other parties hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a notice which shall indicate the specific termination provision(s) in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision so indicated.

Payments on Termination. Upon termination of Executive's employment by the Company or the Bank, the Company and the Bank shall have the following payment obligations to Executive: (a) If the Executive's Employment employment is terminated due to illness of the Executive, the provisions of Section 6 shall apply. (b) If the Executive's Employment employment is terminated due to the death of the Executive, the provisions of Section 7 shall apply. (c) If the Executive's Employment employment is terminated by the Company other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 8 shall apply, and therefore the payment provisions of Section 9 apply. (d) If the Executive's Employment employment is terminated by the Bank other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 9 shall apply. (e) If the Executive's Employment employment is terminated by the Company for Cause, or by the Bank for Cause, the provisions of Section 10 shall apply. (f) If the Executive's Employment employment is terminated by the Executive as a result of a breach of the agreement by the Company or the Bank, the provisions of Section 3 apply, and therefore the payment provisions of Section 9 apply. (g) In the event of a Voluntary Termination of Executive's Employment employment as defined in Section 11, the provisions of Section 11 apply. (h) If the Executive's Employment employment is terminated by the Company or the Bank within twelve (12) months after a Change of Control of the Company, as defined in Section 12 above, or a Change of Control of the Bank, as defined in Section 13 above, or in Contemplation of a Change of Control of either, as defined in Section 14, the provisions of Section 14 shall apply. (i) If the Executive's Employment employment is terminated by the Executive for Good Reason, as defined in Section 15 above, the Executive's employment with the Company and with the Bank shall be deemed to have been terminated without Cause by the Company and by the Bank at the time of such termination by Executive for Good Reason. If such termination is during a period of Contemplation of Change of Control, or within twelve (12) months after a Change of Control, the provisions of Section 14 shall apply. (j) Termination of Executive's Employment employment by the Company or by the Bank or by the Executive shall be communicated by written Notice of Termination to the other parties hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a notice which shall indicate the specific termination provision(s) in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision provisions so indicated.

Payments on Termination. Upon termination of Executive's employment by the Company or the Bank, the Company and the Bank shall have the following payment obligations to Executive: (a) If the Executive's Employment employment is terminated due to illness of the Executive, the provisions of Section 6 shall apply. (b) If the Executive's Employment employment is terminated due to the death of the Executive, the provisions of Section 7 shall apply. (c) If the Executive's Employment employment is terminated by the Company other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 8 shall apply, and therefore the payment provisions of Section 9 apply. (d) If the Executive's Employment employment is terminated by the Bank other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 9 shall apply. (e) If the Executive's Employment employment is terminated by the Company for Cause, or by the Bank for Cause, the provisions of Section 10 shall apply. (f) If the Executive's Employment employment is terminated by the Executive as a result of a breach of the agreement by the Company or the Bank, the provisions of Section 3 apply, and therefore the payment provisions of Section 9 apply. (g) In the event of a Voluntary Termination of Executive's Employment employment as defined in Section 11, the provisions of Section 11 II apply. (h) If the Executive's Employment employment is terminated by the Company or the Bank within twelve (12) months after a Change of Control of the Company, as defined in Section 12 above, or a Change of Control of the Bank, as defined in Section 13 above, or in Contemplation of a Change of Control of either, as defined in Section 14, the provisions of Section 14 shall apply. (i) If the Executive's Employment employment is terminated by the Executive for Good Reason, as defined in Section 15 above, the Executive's employment with the Company and with the Bank shall be deemed to have been terminated without Cause by the Company and by the Bank at the time of such termination by Executive for Good Reason. If such termination is during a period of Contemplation of Change of Control, or within twelve (12) months after a Change of Control, the provisions of Section 14 shall apply. (j) Termination of Executive's Employment employment by the Company or by the Bank or by the Executive shall be communicated by written Notice of Termination to the other parties hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a notice which shall indicate the specific termination provision(s) in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision so indicated.the

Payments on Termination. Upon termination of Executive's employment by the Company or the Bank, the Company and the Bank shall have the following payment obligations to Executive: (a) If the Executive's Employment employment is terminated due to illness of the Executive, the provisions of Section 6 shall apply. (b) If the Executive's Employment employment is terminated due to the death of the Executive, the provisions of Section 7 shall apply. (c) If the Executive's Employment employment is terminated by the Company other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 8 shall apply, and therefore the payment provisions of Section 9 apply. (d) If the Executive's Employment employment is terminated by the Bank other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 9 shall apply. (e) If the Executive's Employment employment is terminated by the Company for Cause, or by the Bank for Cause, the provisions of Section 10 shall apply. (f) If the Executive's Employment employment is terminated by the Executive as a result of a breach of the agreement by the Company or the Bank, the provisions of Section 3 apply, and therefore the payment provisions of Section 9 apply. (g) In the event of a Voluntary Termination of Executive's Employment employment as defined in Section 11, the provisions of Section 11 apply. (h) If the Executive's Employment employment is terminated by the Company or the Bank within twelve (12) months after a Change of Control of the Company, as defined in Section 12 above, or a Change of Control of the Bank, as defined in Section 13 above, or in Contemplation of a Change of Control of either, as defined in Section 14, the provisions of Section 14 shall apply. (i) If the Executive's Employment employment is terminated by the Executive for Good Reason, as defined in Section 15 above, the Executive's employment with the Company and with the Bank shall be deemed to have been terminated without Cause by the Company and by the Bank at the time of such termination by Executive for Good Reason. If such termination is during a period of Contemplation of Change of Control, or within twelve (12) months after a Change of Control, the provisions of Section 14 shall apply. (j) Termination of Executive's Employment employment by the Company or by the Bank or by the Executive shall be communicated by written Notice of Termination to the other parties hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a notice which shall indicate the specific termination provision(s) in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision so indicated.

Payments on Termination. Upon termination of Executive's employment by the Company or the Bank, the Company and the Bank shall have the following payment obligations to Executive: (a) If the Executive's Employment employment is terminated due to illness of the Executive, the provisions of Section 6 shall apply. (b) If the Executive's Employment employment is terminated due to the death of the Executive, the provisions of Section 7 shall apply. (c) If the Executive's Employment employment is terminated by the Company other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 8 shall apply, and therefore the payment provisions of Section 9 apply. (d) If the Executive's Employment employment is terminated by the Bank other than for Cause, and not In Contemplation of a Change of Control of the Company or the Bank or within twelve months after a Change of Control of the Company or the Bank, the provisions of Section 9 shall apply. (e) If the Executive's Employment employment is terminated by the Company for Cause, or by the Bank for Cause, the provisions of Section 10 shall apply. (f) If the Executive's Employment employment is terminated by the Executive as a result of a breach of the agreement by the Company or the Bank, the provisions of Section 3 apply, and therefore the payment provisions of Section 9 apply. (g) In the event of a Voluntary Termination of Executive's Employment employment as defined in Section 11, the provisions of Section 11 apply. (h) If the Executive's Employment employment is terminated by the Company or the Bank within twelve (12) months after a Change of Control of the Company, as defined in Section 12 above, or a Change of Control of the Bank, as defined in Section 13 above, or in Contemplation of a Change of Control of either, as defined in Section 14, the provisions of Section 14 shall apply. (i) If the Executive's Employment employment is terminated by the Executive for Good Reason, as defined in Section 15 above, the Executive's employment with the Company and with the Bank shall be deemed to have been terminated without Cause by the Company and by the Bank at the time of such termination by Executive for Good Reason. If such termination is during a period of Contemplation of Change of Control, or within twelve (12) months after a Change of Control, the provisions of Section 14 shall apply. (j) Termination of Executive's Employment by the Company or by the Bank or by the Executive shall be communicated by written Notice of Termination to the other parties hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a notice which shall indicate the specific termination provision(s) in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision so indicated.