Common use of TERMINATION OTHERWISE Clause in Contracts

TERMINATION OTHERWISE. All provisions of the Employment Agreement to the contrary notwithstanding, Cohron's employment may be terminated, upon delivery to Cohrxx xx 60 days notice of termination, at any time during the Term, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, determines that such employment should be terminated. It is understood that Cohrxx xxx no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 that Cohron's employment is terminated, then Cohrxx xxxll be entitled to receive all compensation and fringe benefits to which she is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of Cohron's service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay"). For purposes of this Paragraph 14, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All The above provisions of the this Employment Agreement to the contrary notwithstanding, Cohron's Xxxxxx'x employment may be terminated, upon delivery to Cohrxx xx Xxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, Employer determines that such employment should be terminated. It is understood that Cohrxx xxx Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's Xxxxxx'x employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 that Cohron's Xxxxxx'x employment is terminated, then Cohrxx xxxll Xxxxxx shall be entitled to receive all compensation and fringe benefits to which she he is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's Xxxxxx'x employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll Xxxxxx shall thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer Xxxxxx under this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of Cohron's Xxxxxx'x service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay"). For purposes of this Paragraph 14, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All The above provisions of the this Employment Agreement to the contrary notwithstanding, Cohron's employment Bray'x xxxloyment may be terminated, upon delivery to Cohrxx Bray xx 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, Employer determines that such employment should be terminated. It is understood that Cohrxx Bray xxx no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's employment Bray'x xxxloyment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 that Cohron's employment Bray'x xxxloyment is terminated, then Cohrxx Bray xxxll be entitled to receive all compensation and fringe benefits to which she he is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's employment Bray'x xxxloyment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx Bray xxxll thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx Bray xxxer this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of Cohron's service Bray'x xxxvice under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay"). For purposes of this Paragraph 14, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All The above provisions of the this Employment Agreement to the contrary notwithstanding, Cohron's Kxxxxx'x employment may be terminated, upon delivery to Cohrxx xx Kxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, Employer determines that such employment should be terminated. It is understood that Cohrxx xxx Kxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's Kxxxxx'x employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 11 that Cohron's Kxxxxx'x employment is terminated, then Cohrxx xxxll Kxxxxx shall be entitled to receive all compensation and fringe benefits to which she he is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's Kxxxxx'x employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll Kxxxxx shall thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer Kxxxxx under this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer $4,063.00 per month or the total amount continuation of the salary, commission income at the annual rate then specified in effectParagraph 5 of this Agreement which is thereafter received by Citizens First Bank as a result of Kxxxxx'x efforts prior to Kxxxxx'x termination, whichever is greater on a monthly basis, for a period equal to the number of months of Cohron's Kxxxxx'x service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay"). For purposes of this Paragraph 1411, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All provisions of the Employment Agreement to the contrary notwithstanding, Cohron's employment may be terminated, upon delivery to Cohrxx xx Xxxxxx of 60 days notice of termination, at any time during the Term, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, determines by majority vote of the entire Board of Directors (excluding Xxxxxx) that such employment should be terminated. It is understood that Cohrxx xxx Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 12 that Cohron's employment is terminated, then Cohrxx xxxll Xxxxxx shall be entitled to receive all compensation and fringe benefits to which she is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's 10 11 employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll Xxxxxx shall thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer Xxxxxx under this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of Cohron's service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay")) . For purposes of this Paragraph 1412, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All The above provisions of the this Employment Agreement to the contrary notwithstanding, Cohron's Xxxxxx' employment may be terminated, upon delivery to Cohrxx xx Xxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, Employer determines that such employment should be terminated. It is understood that Cohrxx xxx Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's Xxxxxx' employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 11 that Cohron's Xxxxxx' employment is terminated, then Cohrxx xxxll Xxxxxx shall be entitled to receive all compensation and fringe benefits to which she is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's Xxxxxx' employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll Xxxxxx shall thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer Xxxxxx under this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of Cohron's Xxxxxx' service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay"). For purposes of this Paragraph 1411, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All The above provisions of the Employment Agreement to the contrary notwithstanding, Cohron's Xxxxxx'x employment may be terminated, upon delivery to Cohrxx xx Xxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, Employer determines that such employment should be terminated. It is understood that Cohrxx xxx Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's Xxxxxx'x employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 11 that Cohron's Xxxxxx'x employment is terminated, then Cohrxx xxxll Xxxxxx shall be entitled to receive all compensation and fringe benefits to which she he is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's Xxxxxx'x employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll Xxxxxx shall thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer Xxxxxx under this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of Cohron's Xxxxxx'x service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay"). For purposes of this Paragraph 1411, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All The above provisions of the this Employment Agreement to the contrary notwithstanding, Cohron's employment may be terminated, upon delivery to Cohrxx xx 60 days notice of termination, at any time during the Term, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, determines that such employment should be terminated. It is understood that Cohrxx xxx no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 that Cohron's employment is terminated, or Employer timely delivers notice to Cohrxx xxxt it does not intend to renew this Agreement pursuant to Paragraph 2 above, then Cohrxx xxxll be entitled to receive all compensation and fringe benefits to which she is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of Cohron's service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay")) . For purposes of this Paragraph 14, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All provisions of the Employment Agreement to the contrary notwithstanding, Cohron's employment may be terminated, upon delivery to Cohrxx xx Xxxxxx of 60 days notice of termination, at any time during the Term, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, determines by majority vote of the entire Board of Directors (excluding Xxxxxx) that such employment should be terminated. It is understood that Cohrxx xxx Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Cohron's employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 12 that Cohron's employment is terminated, then Cohrxx xxxll Xxxxxx shall be entitled to receive all compensation and fringe benefits to which she is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, Cohron's employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll Xxxxxx shall thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer Xxxxxx under this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of Cohron's service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay"). For purposes of this Paragraph 14, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the January 1, 2005 Employment Agreement remain unchanged and in full force and effect.

TERMINATION OTHERWISE. All The above provisions of the this Employment Agreement to the contrary notwithstanding, CohronHall's employment may be terminated, upon delivery to Cohrxx xx Hall of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if the Employer's Board of Directors, for any reason whatsoever, Employer determines that such employment should be terminated. It is understood that Cohrxx xxx Hall has no continuing right to employment by Employer, and that Employer may, therefore, terminate CohronHall's employment at any time of its choosing, and for any reasons which are satisfactory to it. If notice is delivered pursuant to this Paragraph 14 that CohronHall's employment is terminated, then Cohrxx xxxll Hall shall be entitled to receive all compensation and fringe benefits to which she he is otherwise entitled (and which would otherwise accrue) under this Employment Agreement during the period of 60 days following delivery of such notice. At the conclusion of such period of 60 days, CohronHall's employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Cohrxx xxxll Hall shall thereafter have under this Employment Agreement shall be: (a) the right to receive from Employer, on the next scheduled salary payment date, the value of fringe benefits accruing to Cohrxx xxxer Hall under this Agreement as of the effective date of the termination (subject to the terms and conditions of any plan or agreement pursuant to which such benefits are made available) and (b) the right to receive from Employer the total amount of the salary, at the annual rate then in effect, equal to the number of months of CohronHall's service under the Term but in no event to exceed twelve (12) months (such total amount being referred to as "Severance Pay"). For purposes of this Paragraph 14, the Term shall begin anew on each occasion that this Employment Agreement is renewed. All other terms and conditions contained in the Employment Agreement remain unchanged and in full force and effect.