Common use of Termination by the Company Without Cause or by the Employee Due to Adverse Change Clause in Contracts

Termination by the Company Without Cause or by the Employee Due to Adverse Change. In addition to termination under subparagraphs 10.1, 10.2 and 10.3 above, the Employee’s employment by the Company under this Agreement may be terminated by the Company at any time without cause during the term provided in this Employment Agreement or by the Employee as follows: (i) within twelve (12) months following the effective date of this Agreement if there occurs an Adverse Change in the Employee’s Circumstances within such twelve month period; or (ii) within twelve (12) months following a Change in Control if there occurs an Adverse Change in the Employee’s Circumstances within such twelve (12) month period. In the event of and in consideration for all amounts and benefits payable hereunder by reason of a Change in Control, the Employee acknowledges that the provisions of paragraph 14 hereof shall extend to any offices or facilities of any business that becomes an affiliate of or successor to the Company on account of such Change in Control. In any such event of termination under this subparagraph 10.5, the Company shall pay to the Employee in a lump sum an amount equal to the greater of the Employee’s then current monthly salary rate or the rate in effect prior to any reduction which led to the termination times the greater of (A) the number of months otherwise remaining in the Period of Employment set forth in paragraph 3, or (B) 12 months. The Company shall also provide the Employee with benefits in accordance with subparagraph 10.11 hereof.

Termination by the Company Without Cause or by the Employee Due to Adverse Change. In addition to termination under subparagraphs 10.1, 10.2 and 10.3 above, the Employee’s employment by the Company under this Agreement may be terminated by the Company at any time without cause during the term provided in this Employment Agreement or by the Employee as follows: (i) within twelve (12) months following the effective date of this Agreement if there occurs an Adverse Change in the Employee’s Circumstances within such twelve month period; or (ii) within twelve (12) months following a Change in Control if there occurs an Adverse Change in the Employee’s Circumstances within such twelve (12) month period. In the event of and in consideration for all amounts and benefits payable hereunder by reason of a Change in Control, the Employee acknowledges that the provisions of paragraph 14 hereof shall extend to any offices or facilities of any business that becomes an affiliate of or successor to the Company on account of such Change in Control. In any such event of termination under this subparagraph 10.5, the Company shall pay to the Employee in a lump sum an amount equal to the greater of the Employee’s then current monthly salary rate or the rate in effect prior to any reduction which led to the termination times the greater of (A) the number of months otherwise remaining in the Period of Employment set forth in paragraph 3, or (B) 12 months. The Company shall also provide the Employee with benefits in accordance with subparagraph 10.11 hereof.

Termination by the Company Without Cause or by the Employee Due to Adverse Change. In addition to termination under subparagraphs 10.1, 10.2 and 10.3 above, the The Employee’s employment by the Company under this Agreement may be terminated by the Company at any time without cause during the term provided in this Employment Agreement or by the Employee as follows: (i) within twelve (12) months following the effective date of this Agreement if there occurs an Adverse Change in the Employee’s Circumstances within such twelve month period; or (ii) within twelve (12) 12 months following a Change in Control if there occurs an Adverse Change in the Employee’s Circumstances within such twelve (12) 12 month period. In the event of and in consideration for all amounts and benefits payable hereunder by reason of a Change in Control, the Employee acknowledges that the provisions of paragraph 14 Paragraph 10 hereof shall extend to any offices or facilities of any business that becomes an affiliate of or successor to the Company on account of such Change in Control. In any such event of termination under this subparagraph 10.5Subparagraph 6.1, the Company shall pay to the Employee in a lump sum an amount equal to the greater of the Employee’s then current monthly salary rate or the rate in effect prior to any reduction which led to the termination times the greater of (A) the number of months otherwise remaining in the Period of Employment set forth in paragraph Paragraph 3, or (B) 12 months18 months (either (A) or (B), whichever as applicable, shall be the “Payment Period”). The Company shall also provide the Employee with benefits in accordance with subparagraph 10.11 Subparagraph 6.6 hereof. Subject to Subparagraph 6.6, the severance amounts described in this Subparagraph 6.1 shall be paid in bi-weekly compensation continuation payments for the Payment Period, with each payment equal to 1/26 of the Employee’s then current annual salary rate or the rate in effect prior to any reduction which led to the termination.

Termination by the Company Without Cause or by the Employee Due to Adverse Change. In addition to termination under subparagraphs 10.1, 10.2 and 10.3 above, the The Employee’s employment by the Company under this Agreement may be terminated by the Company at any time without cause during the term provided in this Employment Agreement or by the Employee as follows: (i) within twelve (12) months following the effective date of this Agreement if there occurs an Adverse Change in the Employee’s Circumstances within such twelve month period; or (ii) within twelve (12) 12 months following a Change in Control if there occurs an Adverse Change in the Employee’s Circumstances within such twelve (12) 12 month period. In the event of and in consideration for all amounts and benefits payable hereunder by reason of a Change in Control, the Employee acknowledges that the provisions of paragraph 14 Paragraph 10 hereof shall extend to any offices or facilities of any business that becomes an affiliate of or successor to the Company on account of such Change in Control. In any such event of termination under this subparagraph 10.5Subparagraph 6.1, the Company shall pay to the Employee in a lump sum an amount equal to the greater of the Employee’s then current monthly salary rate or the rate in effect prior to any reduction which led to the termination times the greater of (A) the number of months otherwise remaining in the Period of Employment set forth in paragraph Paragraph 3, or (B) 12 monthsmonths (either (A) or (B), whichever as applicable, shall be the “Payment Period”). The Company shall also provide the Employee with benefits in accordance with subparagraph 10.11 Subparagraph 6.6 hereof. Subject to Subparagraph 6.6, the severance amounts described in this Subparagraph 6.1 shall be paid in bi-weekly compensation continuation payments for the Payment Period, with each payment equal to 1/26 of the Employee’s then current annual salary rate or the rate in effect prior to any reduction which led to the termination.

Termination by the Company Without Cause or by the Employee Due to Adverse Change. In addition to termination under subparagraphs 10.1, 10.2 and 10.3 above, the Employee’s employment by the Company Bank under this Agreement may be terminated by the Company or the Bank at any time without cause during the term provided in this Employment Agreement or by the Employee as follows: (i) within twelve (12) months following the effective date of this Agreement if there occurs an Adverse Change in the Employee’s Circumstances within such twelve month period; or (ii) within twelve (12) months following a Change in Control if there occurs an Adverse Change in the Employee’s Circumstances within such twelve (12) month period. In the event of and in consideration for all amounts and benefits payable hereunder by reason of a Change in Control, the Employee acknowledges that the provisions of paragraph 14 hereof shall extend to any offices or facilities of any business that becomes an affiliate of or successor to the Company on account of such Change in Control. In any such event of termination under this subparagraph sub-paragraph 10.5, the Company Bank shall pay to the Employee in a lump sum an amount equal to the greater of the Employee’s then current monthly salary rate or the rate in effect prior to any reduction which led to the termination times the greater of (A) the number of months otherwise remaining in the Period of Employment set forth in paragraph 3, or (B) 12 months. The Company Bank shall also provide the Employee with benefits in accordance with subparagraph sub-paragraph 10.11 hereof.