Common use of Term of Employment and Duties Clause in Contracts

Term of Employment and Duties. (a) The Employers hereby employ the Executive as the Chief Financial Officer of the Corporation and as the Senior Vice President, Treasurer and Chief Financial Officer of the Bank, and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. The term of employment under this Agreement shall be for two years commencing on the Effective Date. Upon approval of the Board of Directors of each of the Employers, the term of employment shall extend for an additional year on each annual anniversary of the Effective Date such that at any time the remaining term of this Agreement shall be from one to two years in the absence of notice to the contrary. Prior to each annual anniversary of the Effective Date, the Board of Directors of each of the Employers shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) an extension of the term of this Agreement, and the term shall continue to extend on each annual anniversary of the Effective Date if the Boards of Directors approve such extension unless the Executive gives written notice to the Employers of the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Board of Directors of either of the Employers elects not to extend the term, it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Term of Employment and Duties. (a) The Employers hereby employ the Executive as the Chief Financial Officer of the Corporation and as the Senior Vice President, Treasurer President and Chief Financial Executive Officer of the Bank, and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. The term of employment under this Agreement shall be for two three years commencing on the Effective Date. Upon approval of the Board of Directors of each of the Employers, the term of employment shall extend for an additional year on each annual anniversary of the Effective Date such that at any time the remaining term of this Agreement shall be from one two to two three years in the absence of notice to the contrary. Prior to each annual anniversary of the Effective Date, the Board of Directors of each of the Employers shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) an extension of the term of this Agreement, and the term shall continue to extend on each annual anniversary of the Effective Date if the Boards of Directors approve such extension unless the Executive gives written notice to the Employers of the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Board of Directors of either of the Employers elects not to extend the term, it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Term of Employment and Duties. (a) The Employers Employer hereby employ employs the Executive as the Chief Financial Officer of the Corporation and as the Senior Vice President, Treasurer President and Chief Financial Lending Officer of the Bank, and the Executive hereby accepts said employment and agrees to render such services to the Employers Employer on the terms and conditions set forth in this Agreement. The term of employment under this Agreement shall be for two years commencing on the Effective Date. Upon approval of the Board of Directors of each of the EmployersEmployer, the term of employment shall extend for an additional year on each annual anniversary of the Effective Date such that at any time the remaining term of this Agreement shall be from one to two years in the absence of notice to the contrary. Prior to each annual anniversary of the Effective Date, the Board of Directors of each of the Employers Employer shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) an extension of the term of this Agreement, and the term shall continue to extend on each annual anniversary of the Effective Date if the Boards Board of Directors approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Board of Directors of either of the Employers Employer elects not to extend the term, it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Term of Employment and Duties. (a) The Employers Employer hereby employ employs the Executive as the Chief Financial Officer of the Corporation and as the Senior Executive Vice President, Treasurer President and Chief Financial Administrative Officer of the Bank, and the Executive hereby accepts said employment and agrees to render such services to the Employers Employer on the terms and conditions set forth in this Agreement. The term of employment under this Agreement shall be for two years commencing on the Effective Date. Upon approval of the Board of Directors of each of the EmployersEmployer, the term of employment shall extend for an additional year on each annual anniversary of the Effective Date such that at any time the remaining term of this Agreement shall be from one to two years in the absence of notice to the contrary. Prior to each annual anniversary of the Effective Date, the Board of Directors of each of the Employers Employer shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) an extension of the term of this Agreement, and the term shall continue to extend on each annual anniversary of the Effective Date if the Boards Board of Directors approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Board of Directors of either of the Employers Employer elects not to extend the term, it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.