Common use of Termination at Expiration Date Clause in Contracts

Termination at Expiration Date. If Executive’s employment is terminated as a result of expiration of this Agreement at the Expiration Date, the Employer shall provide Executive only the following: 5.4.1 if within ten (10) business days following the Expiration Date, Executive first enters into the Separation and Consulting Agreement and that agreement is fully effective, the Employer shall pay Executive his base monthly salary at the rate in effect at the Expiration Date under Paragraph 3.1 for a period of six (6) months from the date the Separation and Consulting Agreement is fully effective, with the first payment to be paid one month after such date, or at the option of the Employer a lump sum payment of such amount. 5.4.2 if within ten (10) business days following the Expiration Date, Executive does not enter into the Separation and Consulting Agreement and that agreement is not fully effective, the Employer has the option to pay Executive his base monthly salary at the rate in effect at the date of termination under Paragraph 3.1 for a period of six (6) months from the date of termination, with the first payment to be paid on the one month anniversary of such date, and if the Employer provides the first such payment, regardless of whether Executive has executed and entered into the Separation and Consulting Agreement with the Employer, Executive shall be deemed bound by such agreement in the form attached hereto in exchange for the consideration provided in this Paragraph, as if executed and delivered by him and fully effective, other than with respect to releases of claims and consideration for those releases; 5.4.3 a payout of all accrued but unused vacation as of the date of termination; 5.4.4 in lieu of Employer-paid medical benefits, six (6) monthly payments equal to Employer’s monthly defined contribution in force at the date of termination including Employer premium support and any Employer paid HSA contributions if executive is enrolled in a HAS qualifying high deductible health plan on the date of termination. At his own expense, Executive shall have the right to elect to continue Employer group health coverage as permitted under COBRA; 5.4.5 continuation of other non-medical Benefits, if any, then provided under Paragraph 3.7, for a period of six (6) months from the date of termination; and 5.4.6 payment of certain incentive compensation under the Plan, subject to the terms and conditions of the Plan that are not contrary to this Paragraph 5.4.6.

Termination at Expiration Date. If Executive’s employment is terminated as a result of expiration of this Agreement at the Expiration Date, the Employer shall provide Executive only the following: 5.4.1 if within ten (10) business days following the Expiration Date, Executive first enters into the Separation and Consulting Agreement and that agreement is fully effective, the Employer shall pay Executive his base monthly salary at the rate in effect at the Expiration Date under Paragraph 3.1 for a period of six twenty four (624) months from the date the Separation and Consulting Agreement is fully effective, with the first payment to be paid one month after such date, or at the option of the Employer a lump sum payment of such amount, and take such actions as may be necessary to transfer and assign all right, title and interest in the Automobile to Executive as soon as reasonably practicable following the date the Separation and Consulting Agreement is fully effective. 5.4.2 if within ten (10) business days following the Expiration Date, Executive does not enter into the Separation and Consulting Agreement and that agreement is not fully effective, the Employer has the option to pay Executive his base monthly salary at the rate in effect at the date of termination under Paragraph 3.1 for a period of six twenty four (624) months from the date of termination, with the first payment to be paid on the one month anniversary of such date, and take such actions as may be necessary to transfer and assign all right, title and interest in the Automobile to Executive as soon as reasonably practicable following the Expiration Date, and if the Employer provides the first such paymentpayment and transfers and assigns the Automobile, regardless of whether Executive has executed and entered into the Separation and Consulting Agreement with the Employer, Executive shall be deemed bound by such agreement in the form attached hereto in exchange for the consideration provided in this Paragraph, as if executed and delivered by him and fully effective, other than with respect to releases of claims and consideration for those releases; 5.4.3 a payout of all accrued but unused vacation as of the date of termination; 5.4.4 in lieu of Employer-paid medical benefits, six twelve (612) monthly payments equal to Employer’s monthly defined contribution in force at the date of termination including Employer premium support and any Employer paid HSA contributions if executive is enrolled in a HAS qualifying high deductible health plan on the date of termination. At his own expense, Executive shall have the right to elect to continue Employer group health coverage as permitted under COBRA; 5.4.5 continuation of other non-medical Benefits, if any, then provided under Paragraph 3.7, for a period of six twelve (612) months from the date of termination; and 5.4.6 payment of certain incentive compensation under the Plan, subject to the terms and conditions of the Plan that are not contrary to this Paragraph 5.4.6.

Termination at Expiration Date. If Executive’s employment is terminated as a result of expiration of this Agreement at the Expiration Date, the Employer Bank shall provide Executive only the following: 5.4.1 if within ten (10) business days following the Expiration Date, Executive first enters into the Separation and Consulting Agreement and that agreement is fully effective, the Employer Bank shall pay Executive his base monthly salary at the rate in effect at the Expiration Date under Paragraph 3.1 for a period of six (6) months from the date the Separation and Consulting Agreement is fully effective, with the first payment to be paid one month after such date, or at the option of the Employer Bank a lump sum payment of such amount, and take such actions as may be necessary to transfer and assign all right, title and interest in the Automobile to Executive as soon as reasonably practicable following the date the Separation and Consulting Agreement is fully effective. 5.4.2 if within ten (10) business days following the Expiration Date, Executive does not enter into the Separation and Consulting Agreement and that agreement is not fully effective, the Employer Bank has the option to pay Executive his base monthly salary at the rate in effect at the date of termination under Paragraph 3.1 for a period of six (6) months from the date of termination, with the first payment to be paid on the one month anniversary of such date, and take such actions as may be necessary to transfer and assign all right, title and interest in the Automobile to Executive as soon as reasonably practicable following the Expiration Date, and if the Employer Bank provides the first such paymentpayment and transfers and assigns the Automobile, regardless of whether Executive has executed and entered into the Separation and Consulting Agreement with the EmployerBank, Executive shall be deemed bound by such agreement in the form attached hereto in exchange for the consideration provided in this Paragraph, as if executed and delivered by him and fully effective, other than with respect to releases of claims and consideration for those releases; 5.4.3 a payout of all accrued but unused vacation as of the date of termination; 5.4.4 in lieu of Employer-paid medical benefits, six (6) monthly payments equal to Employer’s monthly defined contribution in force at the date of termination including Employer premium support and any Employer paid HSA contributions if executive is enrolled in a HAS qualifying high deductible health plan on the date of termination. At his own expense, Executive shall have the right to elect to continue Employer group health coverage as permitted under COBRA; 5.4.5 continuation of the group medical and other non-medical Benefitsinsurance benefits, if any, then then-provided under Paragraph 3.7, for a period of six (6) months from the date of termination, subject to the limitations of and to the extent permitted by the policy or policies under which such benefits are provided; and 5.4.6 5.4.5 payment of certain incentive compensation under in compliance with the Plan, subject to with Executive’s termination as a result of expiration being considered for the terms and conditions limited purpose of interpreting the Plan that are not contrary to in the context of this Paragraph 5.4.6Agreement as being a termination “without cause.”

Termination at Expiration Date. If Executive’s employment is terminated as a result of expiration of this Agreement at the Expiration Date, the Employer shall provide Executive only the following: 5.4.1 if within ten (10) business days following the Expiration Date, Executive first enters into the Separation and Consulting Agreement and that agreement is fully effective, the Employer shall pay Executive his base monthly salary at the rate in effect at the Expiration Date under Paragraph 3.1 for a period of six (6) months from the date the Separation and Consulting Agreement is fully effective, with the first payment to be paid one month after such date, or at the option of the Employer a lump sum payment of such amount. 5.4.2 if within ten (10) business days following the Expiration Date, Executive does not enter into the Separation and Consulting Agreement and that agreement is not fully effective, the Employer has the option to pay Executive his base monthly salary at the rate in effect at the date of termination under Paragraph 3.1 for a period of six (6) months from the date of termination, with the first payment to be paid on the one month anniversary of such date, and if the Employer provides the first such payment, regardless of whether Executive has executed and entered into the Separation and Consulting Agreement with the Employer, Executive shall be deemed bound by such agreement in the form attached hereto in exchange for the consideration provided in this Paragraph, as if executed and delivered by him and fully effective, other than with respect to releases of claims and consideration for those releases; 5.4.3 a payout of all accrued but unused vacation as of the date of termination; 5.4.4 in lieu of Employer-paid medical benefits, six (6) monthly payments equal to Employer’s monthly defined contribution in force at the date of termination including Employer premium support and any Employer paid HSA contributions if executive is enrolled in a HAS HSA qualifying high deductible health plan on the date of termination. At his own expense, Executive shall have the right to elect to continue Employer group health coverage as permitted under COBRA; 5.4.5 continuation of other non-medical Benefits, if any, then provided under Paragraph 3.73.6, for a period of six (6) months from the date of termination; and 5.4.6 payment of certain incentive compensation under the applicable Plan, subject to the terms and conditions of the applicable Plan that are not contrary to this Paragraph 5.4.65.4.