Common use of TERMINATION BY STILWELL OTHER THAN FOR CAUSE Clause in Contracts

TERMINATION BY STILWELL OTHER THAN FOR CAUSE. (i) Stilwell may terminate this Agreement axx Xxxxxtive's employment other than for cause immediately upon notice to Executive, and in such event, Stilwell shall provide severance benefixx xx Executive in accordance with Paragraph 4(d)(ii) below. (ii) Unless the provisions of Paragraph 7 of this Agreement are applicable, if Executive's employment is terminated under Paragraph 4(d)(i), Stilwell shall continue, for a period ox xxx (0) year following such termination, (a) to pay to Executive as severance pay a monthly amount equal to one-twelfth (1/12th) of the annual base salary referenced in Paragraph 2(a) above, at the rate in effect immediately prior to termination, and, (b) to reimburse Executive for the cost (including state and federal income taxes payable with respect to this reimbursement) of continuing the health insurance coverage provided pursuant to this Agreement or obtaining health insurance coverage comparable to the health insurance provided pursuant to this Agreement, and obtaining coverage comparable to the life insurance provided pursuant to this Agreement, unless Executive is provided comparable health or life insurance coverage in connection with other employment. The foregoing obligations of Stilwell shall continue until the end ox xuch one (1) year period notwithstanding the death or disability of Executive during said period (except, in the event of death, the obligation to reimburse Executive for the cost of life insurance shall not continue). In the year in which termination of employment occurs, Executive shall be eligible to receive benefits under the Stilwell Incentive Compensation Plxx xxx xhe Stilwell Executive Plan (if such Pxxxx xxxn are in existence and Executive was entitled to participate immediately prior to termination) in accordance with the provisions of such plans then applicable, and severance pay received in such year shall be taken into account for the purpose of determining benefits, if any, under the Stilwell Incentive Compensation Plan bux xxx xxder the Stilwell Executive Plan. After the yeax xx xxxch termination occurs, Executive shall not be entitled to accrue or receive benefits under the Stilwell Incentive Compensation Plan or xxx Xxxlwell Executive Plan with respexx xx xxe severance pay provided herein, notwithstanding that benefits under such plan then are still generally available to executive employees of Stilwell. After termination of employmxxx, Xxxcutive shall not be entitled to accrue or receive benefits under any other employee benefit plan or program, except that Executive shall be entitled to participate in the Stilwell Profit Sharing Plan, the Stilwxxx Xxxxoyee Stock Ownership Xxxx xxx the Stilwell Section 401(k) Plan in the yeax xx termination of employment only if Executive meets all requirements of such plans for participation in such year.

TERMINATION BY STILWELL OTHER THAN FOR CAUSE. (i) Stilwell may terminate this Agreement axx XxxxxtiveAgrexxxxx xxd Executive's employment other than for cause immediately upon notice to Executive, and in such event, Stilwell shall provide severance benefixx xx xxxxxxxs to Executive in accordance with Paragraph 4(d)(ii) below. (ii) Unless the provisions of Paragraph 7 of this Agreement are applicable, if Executive's employment is terminated under Paragraph 4(d)(i), Stilwell shall continue, for a period ox xxx pxxxxx xx ____ (0__) year following such termination, (a) to pay to Executive as severance pay a monthly amount equal to one-twelfth (1/12th) of the annual base salary referenced in Paragraph 2(a) above, at the rate in effect immediately prior to termination, and, (b) to reimburse Executive for the cost (including state and federal income taxes payable with respect to this reimbursement) of continuing the health insurance coverage provided pursuant to this Agreement or obtaining health insurance coverage comparable to the health insurance provided pursuant to this Agreement, and obtaining coverage comparable to the life insurance provided pursuant to this Agreement, unless Executive is provided comparable health or life insurance coverage in connection with other employment. The foregoing obligations of Stilwell shall continue until the end ox xuch one thx xxx xx such ______(1__) year period notwithstanding the death or disability of Executive during said period (except, in the event of death, the obligation to reimburse Executive for the cost of life insurance shall not continue). In the year in which termination of employment occurs, Executive shall be eligible to receive benefits under the Stilwell Incentive Compensation Plxx Xxxx xxx xhe the Stilwell Executive Plan (if such Pxxxx xxxn xxxx Xxans then are in existence and Executive was entitled to participate immediately prior to termination) in accordance with the provisions of such plans then applicable, and severance pay received in such year shall be taken into account for the purpose of determining benefits, if any, under the Stilwell Incentive Compensation Plan bux xxx xxder Xxxn but not under the Stilwell Executive Plan. After the yeax xx xxxch xxx xxxx in which termination occurs, Executive shall not be entitled to accrue or receive benefits under the Stilwell Incentive Compensation Plan or xxx Xxxlwell Xxxx xx the Stilwell Executive Plan with respexx xx xxe witx xxxxxxt to the severance pay provided herein, notwithstanding that benefits under such plan then are still generally available to executive employees of Stilwell. After termination of employmxxxxxxloyment, Xxxcutive Executive shall not be entitled to accrue or receive benefits under any other employee benefit plan or program, except that Executive shall be entitled to participate in the Stilwell Profit Sharing Plan, the Stilwxxx Xxxxoyee Employee Stock Ownership Xxxx xxx Ownershix Xlan and the Stilwell Section 401(k) with Proxxx Xxxxing Plan Portion in the yeax xx year of termination of employment only if Executive meets all requirements of such plans for participation in such year.

TERMINATION BY STILWELL OTHER THAN FOR CAUSE. (i) Stilwell may terminate this Agreement axx XxxxxtiveAgxxxxxxx and Executive's employment other than for cause immediately upon notice to Executive, and in such event, Stilwell shall provide severance benefixx xx severanxx xxxxxits to Executive in accordance with Paragraph 4(d)(ii) below. (ii) Unless the provisions of Paragraph 7 of this Agreement are applicable, if Executive's employment is terminated under Paragraph 4(d)(i), Stilwell shall continue, for a period ox xxx xxxxxx of ____ (0__) year following such termination, (a) to pay to Executive as severance pay a monthly amount equal to one-twelfth (1/12th) of the annual base salary referenced in Paragraph 2(a) above, at the rate in effect immediately prior to termination, and, (b) to reimburse Executive for the cost (including state and federal income taxes payable with respect to this reimbursement) of continuing the health insurance coverage provided pursuant to this Agreement or obtaining health insurance coverage comparable to the health insurance provided pursuant to this Agreement, and obtaining coverage comparable to the life insurance provided pursuant to this Agreement, unless Executive is provided comparable health or life insurance coverage in connection with other employment. The foregoing obligations of Stilwell shall continue until the end ox xuch one xxx xxx of such ______(1__) year period notwithstanding the death or disability of Executive during said period (except, in the event of death, the obligation to reimburse Executive for the cost of life insurance shall not continue). In the year in which termination of employment occurs, Executive shall be eligible to receive benefits under the Stilwell Incentive Compensation Plxx xxx xhe Compensatiox Xxxx xnd the Stilwell Executive Plan (if such Pxxxx xxxn xx xxxx Plans then are in existence and Executive was entitled to participate immediately prior to termination) in accordance with the provisions of such plans then applicable, and severance pay received in such year shall be taken into account for the purpose of determining benefits, if any, under the Stilwell Incentive Compensation Plan bux xxx xxder Compensatiox Xlan but not under the Stilwell Executive Plan. After the yeax xx xxxch Aftex xxx xxar in which termination occurs, Executive shall not be entitled to accrue or receive benefits under the Stilwell Incentive Compensation Plan or xxx Xxxlwell Compensatiox Xxxx xr the Stilwell Executive Plan with respexx xx xxe wxxx xxxxect to the severance pay provided herein, notwithstanding that benefits under such plan then are still generally available to executive employees of Stilwell. After termination of employmxxxox xmployment, Xxxcutive Executive shall not be entitled to accrue or receive benefits under any other employee benefit plan or program, except that Executive shall be entitled to participate in the Stilwell Profit Sharing Plan, the Stilwxxx Xxxxoyee Employee Stock Ownership Xxxx xxx Ownersxxx Plan and the Stilwell Section 401(k) with Pxxxxx Xxaring Plan Portion in the yeax xx year of termination of employment only if Executive meets all requirements of such plans for participation in such year.

TERMINATION BY STILWELL OTHER THAN FOR CAUSE. (i) Stilwell may terminate this Agreement axx XxxxxtiveXxxxxxent and Executive's employment other than for cause immediately upon notice to Executive, and in such event, Stilwell shall provide severance benefixx xx severanxx xxxxfits to Executive in accordance with Paragraph 4(d)(ii) below. (ii) Unless the provisions of Paragraph 7 of this Agreement are applicable, if Executive's employment is terminated under Paragraph 4(d)(i), Stilwell shall continue, for a period ox xxx xxxxxx of two (02) year years following such termination, (a) to pay to Executive as severance pay a monthly amount equal to one-twelfth (1/12th) of the annual base salary referenced in Paragraph 2(a) above, at the rate in effect immediately prior to termination, and, (b) to reimburse Executive for the cost (including state and federal income taxes payable with respect to this reimbursement) of continuing the health insurance coverage provided pursuant to this Agreement or obtaining health insurance coverage comparable to the health insurance provided pursuant to this Agreement, and obtaining coverage comparable to the life insurance provided pursuant to this Agreement, unless Executive is provided comparable health or life insurance coverage in connection with other employment. The foregoing obligations of Stilwell shall continue until the uxxxx xxe end ox xuch one of such two (12) year period notwithstanding the death or disability of Executive during said period (except, in the event of death, the obligation to reimburse Executive for the cost of life insurance shall not continue). In the year in which termination of employment occurs, Executive shall be eligible to receive benefits under the Stilwell Incentive Compensation Plxx xxx xhe Compenxxxxxx Xlan and the Stilwell Executive Plan (if such Pxxxx xxxn sucx Xxxxx then are in existence and Executive was entitled to participate immediately prior to termination) in accordance with the provisions of such plans then applicable, and severance pay received in such year shall be taken into account for the purpose of determining benefits, if any, under the Stilwell Incentive Compensation Compenxxxxxx Plan bux xxx xxder but not under the Stilwell Executive Plan. After the yeax xx xxxch Xxxxx xhe year in which termination occurs, Executive shall not be entitled to accrue or receive benefits under the Stilwell Incentive Compensation Compensatixx Plan or xxx Xxxlwell the Stilwell Executive Plan with respexx xx xxe xxxxxxx to the severance pay provided herein, notwithstanding that benefits under such plan then are still generally available to executive employees of Stilwell. After termination of employmxxxterminatixx xx employment, Xxxcutive Executive shall not be entitled to accrue or receive benefits under any other employee benefit plan or program, except that Executive shall be entitled to participate in the Stilwell Profit Sharing Plan, the Stilwxxx Xxxxoyee Employee Stock Ownership Xxxx xxx Xxxxxxxxp Plan and the Stilwell Section 401(k) Plan xxxx Xxofit Sharing Plan Portion in the yeax xx year of termination of employment only if Executive meets all requirements of such plans for participation in such year.

TERMINATION BY STILWELL OTHER THAN FOR CAUSE. (i) Stilwell may terminate this Agreement axx Xxxxxtive's employment other than for cause immediately upon notice to Executive, and in such event, Stilwell shall provide severance benefixx xx Executive Xxecutive in accordance with Paragraph 4(d)(ii) below. (ii) Unless the provisions of Paragraph 7 of this Agreement are applicable, if Executive's employment is terminated under Paragraph 4(d)(i), Stilwell shall continue, for a period ox xxx (0) year following such termination, (a) to pay to Executive as severance pay a monthly amount equal to one-twelfth (1/12th) of the annual base salary referenced in Paragraph 2(a) above, at the rate in effect immediately prior to termination, and, (b) to reimburse Executive for the cost (including state and federal income taxes payable with respect to this reimbursement) of continuing the health insurance coverage provided pursuant to this Agreement or obtaining health insurance coverage comparable to the health insurance provided pursuant to this Agreement, and obtaining coverage comparable to the life insurance provided pursuant to this Agreement, unless Executive is provided comparable health or life insurance coverage in connection with other employment. The foregoing obligations of Stilwell shall continue until the end ox xuch one xxxx xne (1) year period notwithstanding the death or disability of Executive during said period (except, in the event of death, the obligation to reimburse Executive for the cost of life insurance shall not continue). In the year in which termination of employment occurs, Executive shall be eligible to receive benefits under the Stilwell Incentive Compensation Plxx xxx xhe Stilwell Executive Plan (if such Pxxxx xxxn are Plans xxxx xxx in existence and Executive was entitled to participate immediately prior to termination) in accordance with the provisions of such plans then applicable, and severance pay received in such year shall be taken into account for the purpose of determining benefits, if any, under the Stilwell Incentive Compensation Plan bux xxx xxder the Stilwell Executive Plan. After the yeax xx xxxch thx xxxx xn which termination occurs, Executive shall not be entitled to accrue or receive benefits under the Stilwell Incentive Compensation Plan or xxx Xxxlwell Plxx xx xxe Stilwell Executive Plan with respexx xx xxe respect to xxx severance pay provided herein, notwithstanding that benefits under such plan then are still generally available to executive employees of Stilwell. After termination of employmxxx, Xxxcutive shall not be entitled to accrue or receive benefits under any other employee benefit plan or program, except that Executive shall be entitled to participate in the Stilwell Profit Sharing Plan, the Stilwxxx Xxxxoyee Stock Ownership Xxxx xxx the Stilwell Section 401(k) Plan in the yeax xx termination of employment only if Executive meets all requirements of such plans for participation in such year.