Common use of Day Prior Notice Clause in Contracts

Day Prior Notice. If at any time during the Term of Executive’s employment under this Agreement, Executive elects to voluntarily terminate his own employment with the Company and the Bank, other than any such early termination that qualifies as (i) a Termination for Good Reason by Executive of his own employment under Section 4(b), above, (ii) a Termination Following a Change in Control by Executive (for Good Reason or without Good Reason) under Section 6, below, or (iii) a termination for Disability or upon Retirement under Section 12, below, Executive shall be obligated to deliver, and shall deliver to each of the Company and the Bank, a prior written Notice of Termination, as defined and subject to the terms and conditions set forth in Section 8(b), below, which notice, among other things, shall identify the proposed Termination Date, which may not be earlier than the thirtieth (30th) day nor later than the forty-fifth (45th) day following the date of the notice. Any such termination of employment (a “Voluntary Termination of Employment”) shall be subject to the right of the Company and/or the Bank to extend the period of Executive’s employment hereunder for a specified period beyond the proposed Termination Date identified by Executive in his notice, as provided in paragraph (c) below.