Common use of Termination of Employment Agreement Clause in Contracts

Termination of Employment Agreement. Effective upon the Closing, and without any further action by Shareholder, except for any severance benefits payable in connection with the Merger under Section 16(e) of that certain Employment Agreement between Officer, Bancorp and Bank, dated July 15, 2004 (“Employment Agreement”), the Employment Agreement shall terminate for all intents and purposes and be of no further force or effect.

Termination of Employment Agreement. Effective upon the Closing, and without any further action by ShareholderOfficer, except for any severance benefits payable in connection with the Merger under Section 16(e) of that certain Employment Agreement between Officer, Bancorp Officer and Bank, dated July 15, 2004 (“Employment Agreement”), the Employment Agreement shall terminate for all intents and purposes and be of no further force or effect.

Termination of Employment Agreement. Effective upon the Closing, and without any further action by ShareholderOfficer, except for any severance benefits payable in connection with the Merger under Section 16(e) of that certain Employment Agreement between Officer, Bancorp and Bank, dated as of July 15, 2004 (“Employment Agreement”), the Employment Agreement shall terminate for all intents and purposes and be of no further force or effect.

Termination of Employment Agreement. Effective upon the Closing, and without any further action by ShareholderOfficer, except for any severance benefits payable in connection with the Merger under Section 16(e) of that certain Employment Agreement between Officer, Bancorp Officer and Bank, dated as of July 15, 2004 (“Employment Agreement”), the Employment Agreement shall terminate for all intents and purposes and be of no further force or effect.