Common use of Terms and Conditions of the Additional Termination Entitlements Clause in Contracts

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer hereby stipulate that the damages which may be incurred by the Officer following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's efforts, if any, to mitigate damages. The Bank and the Officer further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's resignation from any and all positions which he holds as an officer, director or committee member with respect to the Bank or the Company or any subsidiary or affiliate of either of them; and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the Bank, of any liability to the Officer, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 7 contracts

Samples: Change of Control Agreement (Westbank Corp), Change of Control Agreement (Bridge Street Financial Inc), Change of Control Agreement (Bridge Street Financial Inc)

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Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer hereby stipulate that the damages which may be incurred by the Officer following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's ’s efforts, if any, to mitigate damages. The Bank and the Officer further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's ’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Bank or the Company or any subsidiary or affiliate of either of them; and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the Bank, of any liability to the Officer, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 6 contracts

Samples: Change of Control Agreement (Western New England Bancorp, Inc.), Change of Control Agreement (Charter Financial Corp), Change of Control Agreement (Westfield Financial Inc)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer Executive hereby stipulate that the damages which may be incurred by the Officer Executive following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's Executive’s efforts, if any, to mitigate damages. The Bank and the Officer Executive further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on (i) the receipt of: (a) of the Officer's Executive’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Company, the Bank or the Company or any subsidiary or affiliate of either of them; them and (bii) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliatesaffiliates including the Company, in form and substance satisfactory to the Bank, of any liability to the OfficerExecutive, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 4 contracts

Samples: Employment Agreement (Lake Shore Bancorp, Inc.), Employment Agreement (Lake Shore Bancorp, Inc.), Employment Agreement (Lake Shore Bancorp, Inc.)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer hereby stipulate that the damages which may be incurred by the Officer following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable reason able damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's efforts, if any, to mitigate damages. The Bank and the Officer further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's resignation from any and all positions which he holds as an officer, director or committee member with respect to the Bank or the Company or any subsidiary or affiliate of either of them; and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the Bank, of any liability to the Officer, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 4 contracts

Samples: Change of Control Agreement (Charter Financial Corp/Ga), Change of Control Agreement (Charter Financial Corp/Ga), Change of Control Agreement (Charter Financial Corp/Ga)

Terms and Conditions of the Additional Termination Entitlements. The Bank Company and the Officer Executive hereby stipulate that the damages which may be incurred by the Officer Executive following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's Executive’s efforts, if any, to mitigate damages. The Bank Company and the Officer Executive further agree that the Bank Company may condition the payment and delivery of the Additional Termination Entitlements on (i) the receipt of: (a) of the Officer's Executive’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Company, the Bank or the Company or any subsidiary or affiliate of either of them; them and (bii) a release of the Bank Company and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the BankCompany, of any liability to the OfficerExecutive, whether for compensation or damages, in connection with his employment with the Bank Company and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 3 contracts

Samples: Employment Agreement (Lake Shore Bancorp, Inc.), Employment Agreement (Lake Shore Bancorp, Inc.), Employment Agreement (Lake Shore Bancorp, Inc.)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer hereby stipulate that the damages which may be incurred by the Officer following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's efforts, if any, to mitigate damages. The Bank and the Officer further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's resignation from any and all positions which he holds as an officer, director or committee member with respect to the Bank or the Company or any subsidiary or affiliate of either of them; and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the Bank, of any liability to the Officer, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 3 contracts

Samples: Change of Control Agreement (Hudson City Bancorp Inc), Change of Control Agreement (Hudson City Bancorp Inc), Change of Control Agreement (Hudson City Bancorp Inc)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer hereby stipulate that the damages which may be incurred by the Officer following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's ’s efforts, if any, to mitigate damages. The Bank and the Officer further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's ’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Bank or the Company or any subsidiary or affiliate of either of them; and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the Bank, of any liability to the Officer, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 2 contracts

Samples: Change of Control Agreement (Hudson City Bancorp Inc), Change of Control Agreement (Hudson City Bancorp Inc)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer hereby stipulate that the damages which may be incurred by the Officer following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's efforts, if any, to mitigate damages. The Bank and the Officer further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's resignation from any and all positions which he she holds as an officer, director or committee member with respect to the Bank or the Company or any subsidiary or affiliate of either of them; and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the Bank, of any liability to the Officer, whether for compensation or damages, in connection with his her employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 2 contracts

Samples: Change of Control Agreement (Mystic Financial Inc), Change of Control Agreement (Mystic Financial Inc)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer Executive hereby stipulate that the damages which may be incurred by the Officer Executive following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages therefor under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's Executive’s efforts, if any, to mitigate damages. The Bank and the Officer Executive further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's Executive’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Company, the Bank or the Company or any subsidiary or affiliate of either of them; , and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the Bank, of any liability to the OfficerExecutive, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements, that becomes effective and irrevocable by its terms, if at all, no later than the sixtieth (60th) day immediately following the Officer’s termination of employment.

Appears in 1 contract

Samples: Employment Agreement (Hudson City Bancorp Inc)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer hereby stipulate that the damages which may be incurred by the Officer following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's ’s efforts, if any, to mitigate damages. The Bank and the Officer further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's ’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Bank or the Company or any subsidiary or affiliate of either of them; and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliatesaffiliates including the Company, in form and substance satisfactory to the Bank, of any liability to the Officer, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.the

Appears in 1 contract

Samples: Change of Control Agreement (CMS Bancorp, Inc.)

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Terms and Conditions of the Additional Termination Entitlements. The Bank Company and the Officer Executive hereby stipulate that the damages which may be incurred by the Officer Executive following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages therefor under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's Executive’s efforts, if any, to mitigate damages. The Bank Company and the Officer Executive further agree that the Bank Company may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's Executive’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Company, the Bank or the Company or any subsidiary or affiliate of either of them; , and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the Bank, of any liability to the OfficerExecutive, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements, that becomes effective and irrevocable by its terms, if at all, no later than the sixtieth (60th) day immediately following the Officer’s termination of employment.

Appears in 1 contract

Samples: Employment Agreement (Hudson City Bancorp Inc)

Terms and Conditions of the Additional Termination Entitlements. The Bank Company and the Officer Executive hereby stipulate that the damages which may be incurred by the Officer Executive following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the OfficerExecutive's efforts, if any, to mitigate damages. The Bank Company and the Officer Executive further agree that the Bank Company may condition the payment and delivery of the Additional Termination Entitlements on (i) the receipt of: (a) of the OfficerExecutive's resignation from any and all positions which he holds as an officer, director or committee member with respect to the Company, the Bank or the Company or any subsidiary or affiliate of either of them; them and (bii) a release of the Bank Company and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the BankCompany, of any liability to the OfficerExecutive, whether for compensation or damages, in connection with his employment with the Bank Company and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 1 contract

Samples: Employment Agreement (Lake Shore Bancorp, Inc.)

Terms and Conditions of the Additional Termination Entitlements. The Bank Company and the Officer Executive hereby stipulate that the damages which may be incurred by the Officer Executive following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the OfficerExecutive's efforts, if any, to mitigate such damages. The Bank Company and the Officer Executive further agree that the Bank Company may condition the payment and delivery of the Additional Termination Entitlements on (i) the receipt of: (a) of the OfficerExecutive's resignation from any and all positions which he holds as an officer, director or committee member with respect to the Company, the Bank or the Company or any subsidiary or affiliate of either of them; , and (bii) a release of the Bank Company and its officers, directors, shareholders, subsidiaries and affiliates, in form and substance satisfactory to the BankCompany, of any liability to the OfficerExecutive, whether for compensation or damages, in connection with this Agreement or his employment with the Bank Company and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 1 contract

Samples: Employment Agreement (Lake Shore Bancorp, Inc.)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer Executive hereby stipulate that the damages which may be incurred by the Officer Executive following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's Executive’s efforts, if any, to mitigate such damages. The Bank and the Officer Executive further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on (i) the receipt of: (a) of the Officer's Executive’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Company, the Bank or the Company or any subsidiary or affiliate of either of them; , and (bii) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliates, affiliates in form and substance satisfactory to the Bank, of any liability to the OfficerExecutive, whether for compensation or damages, in connection with this Agreement or his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 1 contract

Samples: Employment Agreement (Lake Shore Bancorp, Inc.)

Terms and Conditions of the Additional Termination Entitlements. The Bank and the Officer hereby stipulate that the damages which may be incurred by the Officer following any termination of employment are not capable of accurate measurement as of the date first above written and that the Additional Termination Entitlements constitute reasonable damages under the circumstances and shall be payable without any requirement of proof of actual damage and without regard to the Officer's ’s efforts, if any, to mitigate damages. The Bank and the Officer further agree that the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of: (a) the Officer's ’s resignation from any and all positions which he holds as an officer, director or committee member with respect to the Bank or the Company or any subsidiary or affiliate of either of them; and (b) a release of the Bank and its officers, directors, shareholders, subsidiaries and affiliatesaffiliates including the Company, in form and substance satisfactory to the Bank, of any liability to the Officer, whether for compensation or damages, in connection with his employment with the Bank and the termination of such employment except for the Standard Termination Entitlements and the Additional Termination Entitlements.

Appears in 1 contract

Samples: Change of Control Agreement (Lake Shore Bancorp, Inc.)

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