Term; Renewal of Term. The term of this Agreement will begin as of the Effective Date and will continue for a period of one year (the “Term”). Commencing on the day following the Effective Date, the Term will extend for one day each day until such time the Board of Directors of the Bank (the “Board of Directors”) or the Executive elects not to extend the Term by giving written notice to the other party of non-renewal (the “Non-Renewal Notice”), in which case the Term will become fixed and will end at the end on the one year anniversary of the date of the Non-Renewal Notice.
Appears in 3 contracts
Samples: Change in Control Agreement (Blue Foundry Bancorp), Change in Control Agreement (Blue Foundry Bancorp), Change in Control Agreement (Blue Foundry Bancorp)
Term; Renewal of Term. The term of this Agreement will begin as of the Effective Date and will continue for a period of one year (the “Term”). Commencing on the day following the Effective Date, the Term will extend for one day each day until such time the Board of Directors of the Bank (the “Board of Directors”) or the Executive elects not to extend the Term by giving written notice to the other party of non-renewal (the “Non-Renewal Notice”), in which case the Term will become fixed and will end at the end on the one year anniversary of the date of the Non-Renewal Notice.
Appears in 1 contract
