Active Term. 1.1 Employer hereby employs Employee as its Executive Vice President to perform executive services as hereinafter provided, and Employee hereby accepts said employment and agrees to render such services to Employer on the terms and conditions set forth in this Agreement for an initial term of three (3) years commencing no later than October 11, 1994, and terminating October 10, 1997, unless sooner terminated in accordance with the terms and conditions hereinafter set forth. On October 11 of each year following the date of execution of this Agreement, this Agreement shall be considered renewed for an additional year to bring this Agreement back to a three (3) year term, unless at least thirty (30) days' prior written notice by either party is given to the other party of intent to terminate this Agreement upon expiration of the then-current term. Immediately upon a change in control, as defined in Section V of this Agreement, this Agreement shall automatically renew for a period of thirty-six (36) months following the date of such change in control.
Active Term. 1.1 Employer hereby employs Employee as President and Chief Executive Officer of FNB Corporation to perform executive services as hereinafter provided, and Employee hereby accepts said employment and agrees to render such services to the Employer on the terms and conditions set forth in this Agreement. This Agreement shall be for a term of three years beginning on the date of execution of this Agreement and shall automatically renew on the anniversary date of the Agreement for an additional period of one year on each renewal date until there is a change in control (as hereinafter defined) or the Employee retires; and consequently, upon the anniversary date each year, the Agreement will be automatically extended and have a remaining term of three years.
Active Term. Unless earlier terminated in accordance with this Agreement, the initial term of this Agreement shall commence on the Effective Date and continue for a period of four (4) years (the “Initial Term”). Unless already terminated, the Initial Term will automatically renew thereafter for additional, individual one-year periods (each such year a “Renewal Term”), unless either Operator or DIRECTV gives written notice of non-renewal at least ninety (90) days in advance of expiration of the then-current Term (the Initial Term alone, or together with any such Renewal Terms, shall also be considered the “Active Term”). Upon termination or expiration of the Active Term, Operator shall no longer be permitted to Reserve, Register or Restrict an MDU Property under this Agreement, * * * the * * * under * * * and a * * * the * * * the * * * with respect to * * * the * * * the * * *. Any extension of the Active Term shall be on the same terms and conditions then in force, except as may be mutually agreed in writing by the Parties.
Active Term. 1.1 Employer hereby employs Employee as President and Chief Executive Officer of First National Bank to perform executive services as hereinafter provided, and Employee hereby accepts said employment and agrees to render such services to the Employer on the terms and conditions set forth in this Agreement. In addition, he will also serve as Executive Vice President of FNB Corporation. This Agreement shall be for a term of three years beginning on the date of execution of this Agreement and shall automatically renew on the anniversary date of the Agreement for an additional period of one year on each renewal date until there is a change in control (as hereinafter defined) or the Employee retires; and consequently, upon the anniversary date each year, the Agreement will be automatically extended and have a remaining term of three years.
Active Term. This Agreement shall become effective on the Effective Date and shall remain in full force and effect until December 31, 2008 (the “Active Term”) at which time this Agreement and Executive’s obligation to provide the Services described in Section 2 and to continue his service as an officer of the Company as described in Section 3 will terminate automatically, unless the Company and Executive agree to extend the Active Term of this Agreement. The Company may terminate this Agreement prior to the last day of the Active Term, but only for Cause. In addition, Executive may terminate this Agreement prior to the last day of the Active Term for any or no reason. If the Company terminates this Agreement for Cause or if Executive terminates this Agreement for any or no reason or dies prior to the last day of the Active Term, no further payments will be due to Executive pursuant to Sections 4 or 5 of this Agreement effective as of the effective date of the Company’s or Executive’s termination of this Agreement or as of Executive’s death, as the case may be. Subject to Section 9(g), Executive shall continue to receive the payments to which he is entitled under Section 10 in the event the Company terminates this Agreement or the Executive terminates this Agreement for any or no reason.
