Common use of Consultancy Clause in Contracts

Consultancy. (a) Subject to the provisions of Section 2(d) hereof, the parties hereto agree that, during the six-month period immediately following the Effective Time of the Merger (the “Consulting Period”), the Consultant undertakes to provide his personal advice and counsel to NewAlliance and its subsidiaries and affiliates (including NewAlliance Bank) in connection with the business of NewAlliance and its subsidiaries, including, but not limited to, consulting with NewAlliance regarding the operations and customer relationships of NewAlliance and its subsidiaries, providing introductions to customers and providing personal services similar to those the Consultant is currently providing Cornerstone and Cornerstone Bank (collectively the “Consulting Services”), subject to the terms and conditions which are set forth herein. The Consultant shall provide such Consulting Services as may be requested from time to time by the Executive Vice President - Business Banking of NewAlliance Bank, and if he or she is not in the office on the date in question, then by the President and Chief Executive Officer of NewAlliance, and if he or she is also not in the office on the date in question, then by the Executive Vice President and Chief Operating Officer of NewAlliance. During the Consulting Period, the Consultant shall be available to devote his full business time, attention, skills and effort (other than during holidays, vacations and periods of illness) to the business and affairs of NewAlliance and its subsidiaries and affiliates and shall use his reasonable best efforts to promote the interests of NewAlliance and its subsidiaries and affiliates. Such Consulting Services may be provided in person, telephonically, electronically or by correspondence as NewAlliance, NewAlliance Bank and the Consultant may agree. The Consultant shall be available for meetings at the principal executive offices of NewAlliance and NewAlliance Bank at such times as shall be reasonable and appropriate.

Consultancy. (a) Subject to the provisions of Section 2(d) hereof, the parties hereto agree that, during the six-month period immediately following the Effective Time of the Merger (the “Consulting Period”), the Consultant undertakes to provide his personal advice and counsel to NewAlliance and its subsidiaries and affiliates (including NewAlliance Bank) in connection with the business of NewAlliance and its subsidiaries, including, but not limited to, consulting with NewAlliance regarding the operations and customer relationships of NewAlliance and its subsidiaries, providing introductions to customers and providing personal services similar to those the Consultant is currently providing Cornerstone and Cornerstone Bank (collectively the “Consulting Services”), subject to the terms and conditions which are set forth herein. The Consultant shall provide such Consulting Services as may be requested from time to time by the Executive Vice President - Business Banking and Chief Operating Officer of NewAlliance BankNewAlliance, and if he or she is not in the office on the date in question, then by the President and Chief Executive Officer of NewAlliance, and if he or she is also not in the office on the date in question, then by the Executive Vice President and Chief Operating Officer - Business Banking of NewAllianceNewAlliance Bank. During the Consulting Period, the Consultant shall be available to devote his full business time, attention, skills and effort (other than during holidays, vacations and periods of illness) to the business and affairs of NewAlliance and its subsidiaries and affiliates and shall use his reasonable best efforts to promote the interests of NewAlliance and its subsidiaries and affiliates. Such Consulting Services may be provided in person, telephonically, electronically or by correspondence as NewAlliance, NewAlliance Bank and the Consultant may agree. The Consultant shall be available for meetings at the principal executive offices of NewAlliance and NewAlliance Bank at such times as shall be reasonable and appropriate.