Termination by the Bank Without Cause. The Bank shall have the right to terminate the Term at any time on written notice without Cause, for any or no reason, such termination to be effective on the date on which the Bank gives such notice to Executive or such later date as may be specified in such notice.
Termination by the Bank Without Cause. The Executive’s employment with the Bank may be terminated without cause at any time by the Bank.
Termination by the Bank Without Cause. The Bank may terminate Executive’s employment without cause at any time during the term of this Agreement by giving the Executive three (3) months’ notice of such termination, during which period Executive will continue to receive normal compensation and benefits to which Executive would normally be entitled under the terms of this Agreement. During the notice period, Executive must fulfill all of Executive’s duties and responsibilities and use Executive’s best efforts to train and support Executive’s replacement, if any. Notwithstanding the foregoing, the Bank, at its option, may instruct Executive during such period not to undertake any active duties on behalf of the Bank. If Executive is terminated under this section, within thirty (30) days following the conclusion of the notice period and receipt of the signed separation agreement described below, the Bank shall provide Executive: (a) a lump sum payment consisting of an amount equal to the Executive’s Base Salary for the number of days left in the Term of the Agreement or for nine (9) months, whichever is greater; (b) a lump sum payment consisting of Executive’s bonus target for the year in which the termination without cause occurs; and (c) payment by the Bank of Executive’s COBRA coverage for the remainder of the Term of the Agreement or 18 months, whichever is less, provided Executive is covered under the Bank’s health plan and timely elects continued coverage under COBRA. Executive expressly agrees and acknowledges that all payments and benefits referenced herein which may be paid to Executive as a result of a Termination Without Cause are conditioned upon and subject to the Executive executing a valid separation agreement and general release, which includes a release of all claims the Executive may have against the Bank, and all of its respective subsidiaries, affiliates, directors, officers, employees, shareholders and agents (other than rights of indemnification, rights to directors and officers insurance, and any rights to accrued benefits under the employee benefit plans), a cooperation clause, a non-disparagement clause, and an affirmation of post-employment restrictions previously agreed to by Executive.
Termination by the Bank Without Cause. The Executive’s employment under this Agreement may be terminated by the Bank without Cause upon thirty (30) days’ prior written notice to the Executive.
Termination by the Bank Without Cause. Your employment may be terminated by the Bank without Cause at any time upon written notice to you, which termination will be effective immediately or on such later date as specified in the written notice. In the event your employment is terminated without Cause, you shall receive the Accrued Amounts and, provided you sign a release and waiver of claims in favor of the Bank and its Affiliates and their respective officers and directors in a form provided by the Bank (the “Release”) and the Release has become effective not later than the 30th day following the date your employment terminates, you shall receive the following payments and benefits:
(i) Any earned but unpaid annual bonus with respect to any completed calendar year immediately preceding the date of termination, which shall be paid on the applicable payment date for such bonus; and
(ii) The Bank shall pay you a severance benefit (the “Severance Benefit”) in an amount equal to the product of (x) your Total Annual Compensation (as defined below) divided by twelve (12) times (y) the number of months remaining between the date of termination of your employment and the Expiration Date, including pro-rated credit for any partial month. For purposes of this Agreement, Total Annual Compensation means the sum of (1) your Base Salary in effect at the date of termination of your employment or, if higher and applicable under Section 6 hereof, immediately prior to the date of a Change in Control, (2) the greater of the maximum annual bonus opportunity for the year in which your employment terminates and the annual bonus earned for the most recently completed calendar year, (3) the grant date value of any equity awards granted to you over the twelve (12) months immediately prior to your termination of employment or, if higher and applicable under Section 6 hereof, immediately prior to the date of a Change in Control (the applicable period, the “prior 12 months”), (4) any tax-qualified or non-tax qualified plan contributions or allocations made on your behalf over the prior 12 months, and (5) the value of your Company or Affiliate perquisites and any other benefits, including the employer portion of benefit premiums, paid or made available to you or on your behalf over the prior 12 months. The Severance Benefit will be paid to you in a lump sum cash payment not later than the 30th day following the date your employment terminates, subject to compliance with Section 9(i) of this Agreement regarding the requirem...
Termination by the Bank Without Cause. In the event of termination pursuant to Section 6(d), the Bank shall, within 90 days of the Date of Termination, pay to the Executive in a lump sum cash payment Executive’s accrued and unpaid salary to the Date of Termination, plus his accrued and unpaid incentive compensation, if any. In addition, the Executive shall be entitled to the following benefits, subject to the Executive signing a general release of claims (other than claims for the right to receive the payments or benefits set forth in this Section 7(d)) in a form and manner satisfactory to the Bank:
(i) The Bank shall within 30 days following the Date of Termination pay Executive in a lump sum cash payment an amount equal to two times the sum of (A) Executive’s current base salary and (B) the greater of (1) his immediate prior fiscal year’s bonus or (2) the average of the Executive’s bonus for the immediate past three fiscal years;
(ii) Upon the Date of Termination, each unvested stock option and any other stock-based grants and awards held by Executive shall immediately vest and become exercisable by the Executive. Subject to the provisions of Section 9(c), each such stock option may be exercised by Executive within 180 days after the Date of Termination;
(iii) In addition to any other benefits to which Executive may be entitled in accordance with the Bank’s then existing severance policies, the Bank shall, for a period of two years commencing on the Date of Termination, pay such health insurance premiums as may be necessary to allow Executive and Executive’s spouse and dependents to continue to receive health insurance coverage substantially similar to coverage they received immediately prior to the Date of Termination; and
(iv) Except as expressly set forth in this Section 7(d) or required by applicable law, the Executive shall not be entitled to any other payments or benefits from the Bank following his termination without cause. Notwithstanding the foregoing, the terms of this Section 7(d) shall not apply to a termination with respect to which Executive is entitled to receive benefits pursuant to Section 8(c).
Termination by the Bank Without Cause. The Officer’s employment may be terminated without Cause effective immediately by written notice to the Officer. In the event of termination without Cause, the Officer shall be entitled to the benefits specified in Section 4(f).
Termination by the Bank Without Cause. The Bank shall have the right at any time during the Employment Period upon 30 days written notice to Executive to terminate the Employment Period without cause. The Bank may in its discretion following delivery of its notice of termination elect immediately to relieve Executive of all or any part of his duties under this Agreement and to exclude Executive thereafter from the premises of the Bank.
Termination by the Bank Without Cause. This Agreement may be terminated by the Bank for any reason whatsoever, by giving 30 days' prior written notice of termination to the other party. If Employee is terminated without cause pursuant to this Section 7.4, Employee shall be entitled to the base compensation earned prior to the date of termination as provided for in this Agreement, computed pro-rata up to and including the date of termination plus a continued salary (at the then current rate) which shall terminate on the sooner of the expiration of the remaining term of this Agreement or at such time as the Employee has found other employment comparable with Employee's employment with the Bank. Employee shall use his best efforts to obtain such employment.
Termination by the Bank Without Cause. Termination of the Employment Period by the Bank without cause pursuant to Section 9 below;
