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

Terms and Conditions of the Additional Termination Entitlements. The Company, the Bank and the Executive hereby stipulate that the damages which may be incurred by the 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 Executive's efforts, if any, to mitigate damages. The Company, the Bank and the Executive further agree that the Company and the Bank may condition the payment and delivery of the Additional Termination Entitlements on the receipt of the 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 any subsidiary or affiliate of either of them.

Terms and Conditions of the Additional Termination Entitlements. The CompanyBank, the Bank Company and the Executive hereby stipulate that the damages which may be incurred by the 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 Executive's ’s efforts, if any, to mitigate damages. The CompanyBank, the Bank Company and the Executive further agree that the Company Bank and the Bank Company may condition the payment and delivery of the Additional Termination Entitlements on the receipt of the Executive's ’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 any subsidiary or affiliate and on the execution by the Executive of either a reasonable release of themthe Company and the Bank that is limited to employment-related claims.