Termination of Employment Agreement; Separation of Employment. Effective as of the close of business on January 29, 2013, Employee’s employment with Employer will be terminated by mutual agreement between Employer and Employee. Accordingly, Employee acknowledges and understands that the Employment Agreement and his employment with Employer under the Employment Agreement or otherwise will terminate on January 29, 2013 (the “Separation Date”) and that his last day of employment with Employer pursuant to the Employment Agreement or otherwise will be the Separation Date. Effective as of the Separation Date, Employee shall be deemed to have resigned from all positions that Employee held as an officer, director and/or member of any committee of Employer and of each of Employer’s subsidiaries; provided, however, Employee agrees to take all actions that are deemed reasonably necessary by Employer to effectuate or evidence such resignations. Employee further acknowledges that, except as otherwise set forth in this Separation Agreement, Employee has received all compensation and benefits to which Employee is entitled as a result of the Employment Agreement, the termination of the Employment Agreement or otherwise as a result of Employee’s employment with Employer and/or Employee’s separation therefrom. Employee understands that, except as otherwise provided in this Separation Agreement, Employee is entitled to nothing further from the Released Parties, including reinstatement by Employer.
Termination of Employment Agreement; Separation of Employment. The Employment Agreement and Employee’s employment with Employer thereunder was terminated by Employee for Good Reason in accordance with Section 4.01(E) of the Employment Agreement, effective December 31, 2015. Accordingly, Employee acknowledges and understands that the Employment Agreement and Employee’s employment with Employer under the Employment Agreement or otherwise will terminate as of the close of business on December 31, 2015 (the “Separation Date”) and that his last day of employment with Employer will be the Separation Date. Employee further acknowledges that Employee has received all compensation and benefits to which Employee is entitled under the Employment Agreement or otherwise as a result of Employee’s employment, except as otherwise provided in this Separation Agreement. Employee understands that, except as otherwise provided in this Separation Agreement, Employee is entitled to nothing further from the Released Parties, including reinstatement by Employer.
Termination of Employment Agreement; Separation of Employment. Effective as of the close of business on September 12, 2008, the Employment Agreement shall be deemed terminated by mutual agreement between the Company and Employee and shall thereafter be of no further force and effect (except with respect to Sections 11 and 12 thereof, which shall remain in full force and effect; provided, however, in accordance with Section 5(A) below and subject to the terms and conditions of this Separation Agreement, effective as of the Separation Date (as defined below), the Company shall be deemed to have waived Employee’s obligations under clause (ii) of Section 12(a) of the Employment Agreement). Notwithstanding the termination of the Employment Agreement, Employee shall, in accordance with Section 2 below, remain employed by the Company until earlier to occur of: (a) December 31, 2008, or (b) the effective date of Employee’s earlier resignation (the “Separation Date”). Accordingly, Employee understands and acknowledges that his last day of employment with the Company will be the Separation Date. Employee understands and agrees that, if he elects to resign prior to December 31, 2008, he shall be required to provide the Bank with at least ten (10) days advance written notice (addressed to Xxxxxx Xxxxxxxxxxx, Senior Executive Vice President) of such resignation. Employee further acknowledges and agrees that Employee has received all compensation and benefits to which Employee is entitled under the Employment Agreement or otherwise as a result of Employee’s employment, except as otherwise specifically provided in this Separation Agreement. Employee understands that, except as otherwise provided in this Separation Agreement, Employee is entitled to nothing further from the Released Parties under the Employment Agreement or otherwise, including reinstatement by the Company.
