Common use of The Bank's Board of Directors Clause in Contracts

The Bank's Board of Directors. may terminate the Executive at any time, but any termination by the Bank's Board of Directors other than termination for Cause shall not prejudice the Executive's vested right to compensation or other benefits under the contract. As provided in Section 5.3, the Executive shall be paid the balance of his Elective Contribution Account in a lump sum within thirty (30) days of his termination in the event he is terminated for Cause. He shall have no right to receive additional compensation or other benefits for any period after termination for Cause.

Appears in 1 contract

Samples: Executive Deferred Compensation Master Agreement (MFS Financial Inc)

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The Bank's Board of Directors. may terminate the Executive at any time, but any termination by the Bank's Board of Directors other than termination for Cause shall not prejudice the Executive's vested right to compensation or other benefits under the contract. As provided in Section 5.33.5, the Executive shall be paid forfeit his right to all benefits provided for in the balance of his Elective Contribution Account in a lump sum within thirty (30) days of his termination Agreement in the event he is terminated for Cause. He shall have no right to receive additional compensation or other benefits for any period after termination for Cause.

Appears in 1 contract

Samples: Master Agreement (First Bancorp of Indiana Inc)

The Bank's Board of Directors. may terminate the Executive at any time, but any termination by the Bank's ’s Board of Directors other than termination for Cause shall not prejudice the Executive's ’s vested right to compensation or other benefits under the contract. As provided in Section 5.34.5, the Executive shall be paid the balance of his Elective Contribution Account in a lump sum within thirty (30) days of his termination in the event he is terminated for Cause. He shall have no right to receive additional compensation or other benefits for any period after termination for Cause.

Appears in 1 contract

Samples: Deferred Compensation Master Agreement (Oceanfirst Financial Corp)

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The Bank's Board of Directors. may terminate the Executive at any time, but any termination by the Bank's Board of Directors other than termination for Cause shall not prejudice the Executive's vested right to compensation or other benefits under tinder the contract. As provided in Section 5.3Subsection 5.2, the Executive shall be paid the balance of his Elective Contribution Account in a lump sum within thirty (30) days of his termination in the event he is terminated for Cause. He shall have no right to receive additional compensation or other benefits benefits, other than those provided for any period in Subsection 5.2, after termination for Cause.

Appears in 1 contract

Samples: Supplemental Retirement Income Agreement (West Essex Bancorp Inc)

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