Term and Annual Review. The term of this Agreement will begin as of the Effective Date and will continue for thirty-six (36) full calendar months thereafter. Commencing on the first anniversary date of this Agreement (the “Anniversary Date”) and continuing on each Anniversary Date thereafter, the disinterested members of the Board may extend the term of this Agreement for an additional year such that the remaining term shall be thirty-six (36) months, unless written notice of non-renewal is provided to Executive at least thirty (30) days prior to any such Anniversary Date, in which case the term of this Agreement will become fixed and will terminate at the end of the thirty-six (36) months following such Anniversary Date. Prior to each Anniversary Date, the disinterested members of the Board will conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement, and the results thereof will be included in the minutes of the Board’s meeting.
Term and Annual Review. The term of this Agreement will begin as of the Effective Date and will continue for twenty-four (24) full calendar months thereafter. Within ninety (90) days before each anniversary of the Effective Date of this Agreement (the “Anniversary Date”), the Chief Executive Officer of the Bank shall provide a recommendation to the Board of Directors (“Board”) regarding the renewal or nonrenewal of the Agreement. On the basis of the Chief Executive Officer’s recommendation, the disinterested members of the Board or, in the Board’s discretion, a Committee designated by the Board, will conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement for an additional year, and the results thereof, along with the Chief Executive Officer’s recommendation, will be included in the minutes of the Board’s or Committee’s meeting, as applicable. On the basis of the results of the foregoing, the disinterested members of the Board or Committee, as applicable, may extend the term of this Agreement for an additional year such that the remaining term shall be twenty-four (24) months, and notice of such extension shall be provided to Executive. If such notice is not provided to Executive, the term of this Agreement will end twelve (12) months following such Anniversary Date. Notwithstanding the foregoing, in the event that at any time prior to the Anniversary Date the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control under Section 7(a) hereof, then the term of this Agreement shall be extended and shall terminate twenty-four (24) months following the date on which the Change in Control occurs.
Term and Annual Review. The period of Executive’s employment under this Agreement shall be deemed to have commenced as of the date written above and shall continue for a period of twenty-four (24) full calendar months (“Initial Term”), or until the employment relationship is terminated pursuant to Sections 6 or 7 hereof. Upon the expiration of the Initial Term and, so long as this Agreement remains in effect, upon the expiration of each successive twenty-four month period thereafter (each a “Renewal Term”), this Agreement will be renewed automatically for a successive twenty-four-month period, unless the Boards of Directors of the Company and the Bank (each, a “Board”) or Executive elects not to extend the term of the Agreement at the conclusion of the Initial Term or any subsequent Renewal Term by giving written notice to the other party at least ninety (90) days prior to the last day of the Initial Term or any such Renewal Term as the case may be (a “Non-Renewal Notice”). Executive’s employment shall continue during any such Renewal Term until the employment relationship is terminated pursuant to Sections 6 or 7 hereof. At the end of the Initial Term (or Renewal Term, as applicable), the Board will determine whether to allow for the automatic extension of this Agreement at the end of the Initial Term or, if applicable, the then-current Renewal Term or to provide a Non-Renewal Notice as provided herein, in which case, the results thereof will be included in the minutes of the Board’s meeting.
Term and Annual Review. The term of this Agreement will begin as of the Effective Date and will continue for twenty-four (24) full calendar months thereafter. Within ninety (90) days before each anniversary of the Effective Date of this Agreement (the “Anniversary Date”), the disinterested members of the Board or, in the Board’s discretion, a Committee designated by the Board, will conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement for an additional year, and the results thereof will be included in the minutes of the Board’s or Committee’s meeting, as applicable. On the basis of the results of the foregoing, the disinterested members of the Board or Committee, as applicable, may extend the term of this Agreement for an additional period such that the remaining term shall be twenty-four (24) months, and notice of such extension shall be provided to Executive. If such notice is not provided to Executive, the term of this Agreement will end twelve (12) months following such Anniversary Date. Notwithstanding the foregoing, in the event that at any time prior to the Anniversary Date the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control under Section 7(a) hereof, then the term of this Agreement shall be extended and shall terminate twenty-four (24) months following the date on which the Change in Control occurs.
Term and Annual Review. The term of this Agreement will begin as of the Effective Date and will continue for thirty-six (36) full calendar months thereafter. Commencing on the first anniversary date of the Effective Date of this Agreement (the “Anniversary Date”) and continuing on each Anniversary Date thereafter, a majority of the members of the Board who are not executive officers of the Company or the Bank may extend the term of this Agreement for an additional year such that the remaining term shall be thirty-six (36) months, unless written notice of non-renewal is provided to Executive at least thirty (30) days prior to any such Anniversary Date, in which case the term of this Agreement will become fixed and will terminate at the end of the thirty-six (36) months following such Anniversary Date. Prior to each Anniversary Date, the members of the Board who are not executive officers of the Company or the Bank will conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement, and the results thereof will be included in the minutes of the Board’s meeting.
Term and Annual Review. 14.1. The Parties agree that this Agreement shall continue to be in force until it is terminated by either party by providing at least 30 days’ written notice to the other party. The parties agree that they will meet on an annual basis to review this Agreement and that such review shall occur more than 30 days in advance of the anniversary of the execution of this Agreement. The review shall be conducted by the senior management staff of the Ambulance Service and CEPCP’s manager(s) responsible for the CEPCP program.
Term and Annual Review. This MOU will become effective upon signing by both Participants and remain in effect for (5) years, unless extended or terminated. It may be amended or extended by mutual written agreement, and may be terminated immediately upon the written consent of both Participants or by either Participant upon three (3) months written notice to the other Participant. Termination of this MOU does not affect the implementation of any existing agreements between the Participants. Termination or amendment of the specific agreements will be in accordance with the provisions of each specific agreement.
Term and Annual Review
