Common use of Termination by the Officer Clause in Contracts

Termination by the Officer. The Officer may terminate his employment hereunder with or without Good Reason (as defined below) by written notice to the Board of Directors of the Bank effective thirty days after receipt of such notice by the Board of Directors. In the event the Officer terminates his employment hereunder for Good Reason, the Officer shall be entitled to the benefits specified in Section 4(f). The Officer shall not be required to render any further services to the Bank. Upon termination of employment by the Officer without Good Reason, the Officer shall be entitled to no further compensation

Appears in 1 contract

Samples: Employment Agreement (Union Bankshares Corp)

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Termination by the Officer. The Officer may terminate his employment hereunder with or without Good Reason (as defined below) by written notice to the Board of Directors of the Bank effective thirty 30 days after receipt of such notice by the Board of Directors. In the event the Officer terminates his employment hereunder for Good Reason, the Officer shall be entitled to the benefits specified in Section 4(f). The Officer shall not be required to render any further services to the BankBoard. Upon termination of employment by the Officer without Good ReasonOfficer, the Officer shall be entitled have no right to no further compensationrender services or to receive compensation or other benefits under this Agreement for any period after such termination.

Appears in 1 contract

Samples: Employment Agreement (Virginia Savings Bancorp)

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Termination by the Officer. The Officer may terminate his her employment hereunder with or without Good Reason (as defined below) by written notice to the Board of Directors of the Bank Company effective thirty days after receipt of such notice by the Board of Directors. In the event the Officer terminates his her employment hereunder for Good Reason, the Officer shall be entitled to the benefits specified in Section 4(f). The Officer shall not be required to render any further services to the Bank. Upon termination of employment by the Officer without Good Reason, the Officer shall be entitled to no further compensation,

Appears in 1 contract

Samples: Employment Agreement (Union First Market Bankshares Corp)

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