Common use of Termination other than for Cause or Termination for Good Reason Clause in Contracts

Termination other than for Cause or Termination for Good Reason. If Executive’s employment is subject to a Termination other than during a Covered Period, then, in addition to the Minimum Benefits, the Bank shall provide Executive the following benefits: (i) On the first regularly-scheduled payroll date following the 45th day following the Termination Date, Executive shall commence receiving the Severance Amount (less any amount described in Section 4(c)(ii)), with such amount to be paid in 24 substantially equal semi-monthly installments, with each successive payment being due on the semi-monthly anniversary of the Termination Date. (ii) To the extent any portion of the Severance Amount exceeds the “safe harbor” amount described in Treasury Regulation Section 1.409A-1(b)(9)(iii)(A), Executive shall receive such portion of the Severance Amount that exceeds the “safe harbor” amount in a single lump sum payment payable on the first regularly-scheduled payroll date following the 45th day following the Termination Date. (iii) Executive (and Executive’s dependents, as may be applicable) shall be entitled to the benefits described in Section 4(e).