Common use of Two Year Contract; Annual Renewal Clause in Contracts

Two Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and continue for a period of twenty-four (24) full calendar months thereafter. As of January 1st of each year (the “Renewal Date”), beginning with the first January 1st following the Effective Date, this Agreement shall renew for an additional year such that the remaining term shall again be twenty-four (24) full calendar months from the Renewal Date (the “Term”); provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Renewal Date: (i) at least twenty (20) days prior to the Renewal Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Renewal Date, such that this Agreement shall terminate at the end of twelve (12) months following such Renewal Date. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate twenty-four (24) months following the date on which the Change in Control occurs.

Two Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and continue until December 31, 2024. Commencing on January 1, 2025, the term shall continue thereafter for a period of twenty-four two (242) full calendar months thereafter. As of January 1st of each year years (the “Term”) and on January 1, 2026 and each January 1 thereafter (each, a “Renewal Date”), beginning with the first January 1st following the Effective Date, Term of this Agreement shall renew for an additional year such that the remaining term shall again be twenty-four of this Agreement is always two (242) full calendar months from the Renewal Date (the “Term”)years; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Renewal Date: (i) at least twenty thirty (2030) days prior to the Renewal Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Renewal Date, such that this Agreement shall terminate at the end of twelve twenty-four (1224) months following such Renewal Date. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate twenty-four (24) months following the date on which the Change in Control occurs.

Two Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and continue until December 31, 2023. Commencing on January 1, 2024, the term shall continue thereafter for a period of twenty-four two (242) full calendar months thereafter. As of January 1st of each year years (the “Term”) and on January 1, 2025 and each January 1 thereafter (each, a “Renewal Date”), beginning with the first January 1st following the Effective Date, Term of this Agreement shall renew for an additional year such that the remaining term shall again be twenty-four of this Agreement is always two (242) full calendar months from the Renewal Date (the “Term”)years; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Renewal Date: (i) at least twenty thirty (2030) days prior to the Renewal Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Renewal Date, such that this Agreement shall terminate at the end of twelve (12) months following such Renewal Date. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate twenty-four (24) months following the date on which the Change in Control occurs.

Two Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and continue until December 31, 2023. Commencing on January 1, 2024, the term shall continue thereafter for a period of twenty-four two (242) full calendar months thereafter. As of January 1st of each year years (the “Term”) and on January 1, 2025 and each January 1 thereafter (each, a “Renewal Date”), beginning with the first January 1st following the Effective Date, Term of this Agreement shall renew for an additional year such that the remaining term shall again be twenty-four of this Agreement is always two (242) full calendar months from the Renewal Date (the “Term”)years; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Renewal Date: (i) at least twenty thirty (2030) days prior to the Renewal ​ Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Renewal Date, such that this Agreement shall terminate at the end of twelve (12) months following such Renewal Date. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate twenty-four (24) months following the date on which the Change in Control occurs.

Two Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of twenty-four (24) full calendar months thereaftertwo years. As of Commencing on January 1st of 25, 2019 and continuing on each year January 25th thereafter (the “Renewal Anniversary Date”), beginning with the first January 1st following the Effective Date, term of this Agreement shall renew for an additional year such that the remaining term shall again be twenty-four of this Agreement is always two years (24) full calendar months from e.g., January 25, 2019 through January 25, 2021 after the Renewal Date (the “Term”first renewal); provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Renewal Anniversary Date: (i) at least twenty thirty (2030) days prior to the Renewal Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Renewal Anniversary Date, such that this Agreement shall terminate at the end of twelve twenty-four (1224) months following such Renewal Anniversary Date. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate twenty-four (24) months following the date on which the Change in Control occurs.

Two Year Contract; Annual Renewal. The term of this Agreement and the period of Executive’s employment hereunder shall commence begin as of the Effective Date and shall continue for a period of twenty-four (24) full calendar months thereafter. As of January 1st of Commencing on December 31, 2014 and continuing on each year anniversary date thereafter (the “Renewal Anniversary Date”), beginning with the first January 1st following the Effective Date, this Agreement shall renew for an additional year such that the remaining term shall again be twenty-four (24) full calendar months from the Renewal Date (the “Term”); months, provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of {Clients/1310/00203372.DOC/ } the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Renewal Anniversary Date: (i) at least twenty ninety (2090) days prior to the Renewal Anniversary Date, conduct or review a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which such decision shall be included in the minutes of the Board’s meeting. Failure of the disinterested members of the Board to take the actions set forth above will result in the non-renewal of this Agreement. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) at least thirty (30) days prior to any Renewal Anniversary Date, such that this Agreement shall terminate at the end of twelve (12) months following such Renewal Anniversary Date. Notwithstanding The failure of the foregoingBoard to affirmatively issue the Non-Renewal Notice shall not be construed as the renewal of this Agreement. If the Board fails to inform the Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request, in writing, the event that results of the Company Board’s action (or non-action) and the Bank has entered into an agreement Board shall, within thirty (30) days of the receipt of such request, provide a written response to effect a transaction which would be considered a Change in Control as defined below, then Executive. Reference herein to the term of this Agreement shall be refer to both such initial term and such extended and shall terminate twenty-four (24) months following the date on which the Change in Control occursterms.

Two Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of twenty-four (24) full calendar months thereaftertwo years. As Commencing on the first anniversary date of January 1st of each year this Agreement (the “Renewal Anniversary Date”)) and continuing on each Anniversary Date thereafter, beginning with the first January 1st following the Effective Date, term of this Agreement shall renew for an additional year such that the remaining term shall again be twenty-four (24) full calendar months from the Renewal Date (the “Term”)of this Agreement is always two years; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Renewal Anniversary Date: (i) at least twenty thirty (2030) days prior to the Renewal Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Renewal Anniversary Date, such that this Agreement shall terminate at the end of twelve twenty-four (1224) months following such Renewal Anniversary Date. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate twenty-four (24) months following the date on which the Change in Control occurs.