Common use of TERMINATION OTHERWISE Clause in Contracts

TERMINATION OTHERWISE. The above provisions of the Employment Agreement to the contrary notwithstanding, Xxxxxx'x employment may be terminated, upon delivery to Xxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer determines that such employment should be terminated. It is understood that Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate 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 11 that Xxxxxx'x employment is terminated, then Xxxxxx shall be entitled to receive all compensation and fringe benefits to which 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, Xxxxxx'x employment in the Position shall be terminated and the only rights to compensation and fringe benefits which 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 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 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 11, 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. The above provisions of the this Employment Agreement to the contrary notwithstanding, Xxxxxx'x Cohron's employment may be terminated, upon delivery to Xxxxxx of Cohrxx xx 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer the Employer's Board of Directors, for any reason whatsoever, determines that such employment should be terminated. It is understood that Xxxxxx has Cohrxx xxx no continuing right to employment by Employer, and that Employer may, therefore, terminate Xxxxxx'x 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 11 14 that Xxxxxx'x 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 Xxxxxx shall Cohrxx xxxll be entitled to receive all compensation and fringe benefits to which he 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, Xxxxxx'x Cohron's employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Xxxxxx shall 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 Xxxxxx under 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 Xxxxxx'x 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 1114, 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. The above provisions of the this Employment Agreement to the contrary notwithstanding, Xxxxxx'x Hall's employment may be terminated, upon delivery to Xxxxxx Hall of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer determines that such employment should be terminated. It is understood that Xxxxxx Hall has no continuing right to employment by Employer, and that Employer may, therefore, terminate Xxxxxx'x Hall'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 11 14 that Xxxxxx'x Hall's employment is terminated, then Xxxxxx Hall shall be entitled to receive all compensation and fringe benefits to which 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, Xxxxxx'x Hall's employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Xxxxxx 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 Xxxxxx 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 Xxxxxx'x Hall'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 1114, 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. The above provisions of the Employment Agreement to the contrary notwithstanding, Xxxxxx'x Cohron's employment may be terminated, upon delivery to Xxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer 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 Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Xxxxxx'x 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 11 12 that Xxxxxx'x Cohron's employment is terminated, then Xxxxxx shall be entitled to receive all compensation and fringe benefits to which he 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, Xxxxxx'x Cohron's 10 11 employment in the Position shall be terminated and the only rights to compensation and fringe benefits which 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 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 Xxxxxx'x 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 1112, 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. The above All provisions of the Employment Agreement to the contrary notwithstanding, Xxxxxx'x Cohron's employment may be terminated, upon delivery to Xxxxxx of Cohrxx xx 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer the Employer's Board of Directors, for any reason whatsoever, determines that such employment should be terminated. It is understood that Xxxxxx has Cohrxx xxx no continuing right to employment by Employer, and that Employer may, therefore, terminate Xxxxxx'x 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 11 14 that Xxxxxx'x Cohron's employment is terminated, then Xxxxxx shall Cohrxx xxxll be entitled to receive all compensation and fringe benefits to which he 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, Xxxxxx'x Cohron's employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Xxxxxx shall 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 Xxxxxx under 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 Xxxxxx'x 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 1114, 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. The above provisions of the Employment Agreement to the contrary notwithstanding, Xxxxxx'x Cohron's employment may be terminated, upon delivery to Xxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer 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 Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Xxxxxx'x 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 11 12 that Xxxxxx'x Cohron's employment is terminated, then Xxxxxx shall be entitled to receive all compensation and fringe benefits to which he 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, Xxxxxx'x Cohron's employment in the Position shall be terminated and the only rights to compensation and fringe benefits which 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 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 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 11, 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. The above provisions of the this Employment Agreement to the contrary notwithstanding, Xxxxxx'x employment Bray'x xxxloyment may be terminated, upon delivery to Xxxxxx of Bray xx 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer determines that such employment should be terminated. It is understood that Xxxxxx has Bray xxx no continuing right to employment by Employer, and that Employer may, therefore, terminate Xxxxxx'x 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 11 14 that Xxxxxx'x employment Bray'x xxxloyment is terminated, then Xxxxxx shall Bray xxxll be entitled to receive all compensation and fringe benefits to which 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, Xxxxxx'x employment Bray'x xxxloyment in the Position shall be terminated and the only rights to compensation and fringe benefits which Xxxxxx shall 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 Xxxxxx under 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 Xxxxxx'x 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 1114, 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. The above provisions of the this Employment Agreement to the contrary notwithstanding, Xxxxxx'x Kxxxxx'x employment may be terminated, upon delivery to Xxxxxx Kxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer determines that such employment should be terminated. It is understood that Xxxxxx Kxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Xxxxxx'x 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 11 that Xxxxxx'x Kxxxxx'x employment is terminated, then Xxxxxx Kxxxxx shall be entitled to receive all compensation and fringe benefits to which 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, Xxxxxx'x Kxxxxx'x employment in the Position shall be terminated and the only rights to compensation and fringe benefits which Xxxxxx 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 Xxxxxx 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 Xxxxxx'x 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 11, 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 effect12.

TERMINATION OTHERWISE. The above provisions of the this Employment Agreement to the contrary notwithstanding, Xxxxxx'x Xxxxxx' employment may be terminated, upon delivery to Xxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer determines that such employment should be terminated. It is understood that Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate Xxxxxx'x 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 11 that Xxxxxx'x Xxxxxx' employment is terminated, then Xxxxxx shall be entitled to receive all compensation and fringe benefits to which he 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, Xxxxxx'x Xxxxxx' employment in the Position shall be terminated and the only rights to compensation and fringe benefits which 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 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 Xxxxxx'x 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 11, 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. The above provisions of the this Employment Agreement to the contrary notwithstanding, Xxxxxx'x employment may be terminated, upon delivery to Xxxxxx of 60 days notice of termination, at any time during the Term, for any reason whatsoever, with or without cause, if Employer determines that such employment should be terminated. It is understood that Xxxxxx has no continuing right to employment by Employer, and that Employer may, therefore, terminate 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 11 14 that Xxxxxx'x employment is terminated, then Xxxxxx shall be entitled to receive all compensation and fringe benefits to which 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, Xxxxxx'x employment in the Position shall be terminated and the only rights to compensation and fringe benefits which 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 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 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 1114, 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.