Common use of Termination of Employment Agreement Clause in Contracts

Termination of Employment Agreement. As of the Effective Time, the Employment Agreement and all of the respective rights and obligations of the Company, the Bank, and the Executive thereunder shall cease and terminate. The Executive acknowledges and agrees that he is not entitled to any further compensation or payment pursuant to the terms of the Employment Agreement.

Termination of Employment Agreement. As Upon Executive's resignation of his employment with the Company at the Effective Time, all obligations of the parties to the Employment Agreement and all of the respective rights and obligations of shall cease, except for the Company, the Bank, and the 's obligation to make any payments to Executive thereunder shall cease and terminate. The Executive acknowledges and agrees that he is not entitled to any further compensation or payment pursuant to the terms and conditions set forth in the Employment Agreement. The satisfaction of such payments shall fully discharge all of the Company's obligations to Executive under the Employment Agreement.

Termination of Employment Agreement. As of the Effective Time, This Agreement terminates and voids the Employment Agreement and all of the respective rights and obligations of the Companyany agreements, the Bankwhether written or oral, and the Executive thereunder shall cease and terminatemade in connection thereto. The Executive acknowledges shall have no further rights and agrees that he is not entitled to any the Company shall have no further compensation or payment pursuant to the terms of obligations under the Employment AgreementAgreement and any such agreements made in connection thereto.

Termination of Employment Agreement. As of the Effective TimeOther than as provided herein, the Employment Agreement and all shall terminate as of the respective rights and obligations of the Company, the Bank, Effective Time and the Executive thereunder shall cease and terminate. The Executive acknowledges and agrees that he is not entitled to any further compensation or payment pursuant to the terms of the Employment Agreementhave no other rights thereunder.

Termination of Employment Agreement. As of the Effective Time, the Employment Agreement The Company and all of the respective rights and obligations of the Company, the Bank, and the Executive thereunder shall cease and terminate. The Executive acknowledges and agrees that he is not entitled to any further compensation or payment pursuant to the terms of hereby terminate the Employment Agreement. Accordingly, from and after the date of this Agreement, neither the Company nor Executive shall have any further rights, or duties or obligations to the other, under the Employment Agreement, and Executive's employment with the Company shall be purely "at will."

Termination of Employment Agreement. As The Employment Agreement is hereby terminated and of no further force or effect; provided, however, that the Executive will continue as a full-time, at-will employee of the Effective Time, Company and will continue to serve as the Chief Executive Officer of the Company at the discretion of the Board of Directors of the Company. The parties each acknowledge and agree that the termination of the Employment Agreement will not trigger, and all shall not be construed to trigger, any rights of the respective rights and obligations of Executive to receive severance or any other payment from the Company, the Bank, and the Executive thereunder shall cease and terminate. The Executive acknowledges and agrees that he is not entitled to any further compensation or payment pursuant to the terms of the Employment Agreement.

Termination of Employment Agreement. As Effective as of the Effective Timedate of this Agreement, the Employment Agreement is terminated, and all of the respective rights Company and Holdings shall have no obligations of to the Company, the BankExecutive, and the Executive thereunder shall cease and terminatehave no obligations to the Company or Holdings, except as set forth in this Agreement. The Executive acknowledges and agrees that he is not entitled to any further compensation or payment pursuant to the terms hereby resigns from her position as Executive Vice President of the Employment AgreementCompany.

Termination of Employment Agreement. As Executive hereby agrees that as of the Effective Time, the Employment Agreement shall automatically terminate and all be of no further force and effect and the respective rights and obligations of Bank shall have no further obligation or liability to Executive under the CompanyEmployment Agreement. Further, the Executive hereby releases the Bank, its successors and the Executive thereunder shall cease assigns, from any and terminate. The Executive acknowledges and agrees that he is not entitled to any further compensation or payment pursuant all claims related to the terms Employment Agreement, including, without limitation, Section 5 of the Employment Agreement.