Common use of COMMITMENT OF EXECUTIVE Clause in Contracts

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which could result in a Change in Control, the Executive will fully evaluate such proposal or offer and present his evaluation to the Board of Directors of the Bank. The Executive specifically agrees that he/she will not voluntarily resign his/her position(s) with the Bank during any period from the receipt of a specific change in Control proposal up to the closing or termination of the transaction contemplated by the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.

Appears in 1 contract

Samples: Executive Severance Agreement (Cowlitz Bancorporation)

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COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which could result in a Change in Control, the Executive will fully evaluate will, at the Board's request, assist the Board in evaluating such proposal or offer and present his evaluation to offer. Further, the Board of Directors of the Bank. The Executive specifically agrees that he/she he will not voluntarily resign his/her position(s) his position with the Bank during any period from the receipt of a specific change Change in Control proposal up to the closing or termination of the transaction contemplated by the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.

Appears in 1 contract

Samples: Executive Severance Agreement (Washington Banking Co)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal ----------------------- or offer which could result in a Change in Control, the Executive will fully evaluate will, at the Board's request, assist the Board in evaluating such proposal or offer and present his evaluation to offer. Further, the Board of Directors of the Bank. The Executive specifically agrees that he/she he will not voluntarily resign his/her position(s) his position with the Bank during any period from the receipt of a specific change Change in Control proposal up to the closing or termination of the transaction contemplated by the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.

Appears in 1 contract

Samples: Executive Severance Agreement (Pacific Continental Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which could result in a Change change in Controlcontrol, the Executive will fully evaluate will, at the Board's request, assist the Board in evaluating such proposal or offer and present his evaluation to offer. Further, the Board of Directors of the Bank. The Executive specifically agrees that he/she he will not voluntarily resign his/her his position(s) with the Bank Employer Group during any period from the receipt of a specific change in Control control proposal up to the closing or termination of the transaction contemplated by the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.2 EXECUTIVE SEVERANCE AGREEMENT PAGE 2

Appears in 1 contract

Samples: Executive Severance Agreement (Central Bancorporation /Wa/)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which could result in a Change change in Controlcontrol, the Executive will fully evaluate will, at the Board's request, assist the Board in evaluating such proposal or offer and present his evaluation to offer. Further, the Board of Directors of the Bank. The Executive specifically agrees that he/she he will not voluntarily resign his/her his position(s) with the Bank Employer Group during any period from the receipt of a specific change in Control control proposal up to the closing or termination of the transaction contemplated by the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.2 CENTRAL WASHINGTON BANK EXECUTIVE SEVERANCE AGREEMENT PAGE 2

Appears in 1 contract

Samples: Agreement (Central Bancorporation /Wa/)

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COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which could result in a Change change in Controlcontrol, the Executive will fully evaluate will, at the Board's request, assist the Board in evaluating such proposal or offer and present his evaluation to offer. Further, the Board of Directors of the Bank. The Executive specifically agrees that he/she he will not voluntarily resign his/her his position(s) with the Bank Employer Group during any period from the receipt of a specific change in Control control proposal up to the closing or termination of the transaction contemplated by the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.

Appears in 1 contract

Samples: Severance Agreement (Central Bancorporation /Wa/)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which could result in a Change in Control, the Executive will fully evaluate will, at the Board’s request, assist the Board in evaluating such proposal or offer and present his evaluation to offer. Further, the Board of Directors of the Bank. The Executive specifically agrees that he/she he will not voluntarily resign his/her position(s) his position with the Bank during any period from the receipt of a specific change Change in Control proposal up to the closing or termination of the transaction contemplated by the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.

Appears in 1 contract

Samples: Executive Severance Agreement (Pacific Continental Corp)

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