Common use of Executive's Rights Clause in Contracts

Executive's Rights. This Agreement creates no right in the --------- ------------------ Executive to continue in the Bank's service for any specific length of time; nor does it create any other rights in the Executive or obligations on the part of the Bank, except those set forth in this Agreement. The benefits payable under this Agreement shall be independent of and in addition to, any other employment agreements that may exist from time to time between the parties hereto, concerning any other compensation payable by the Bank to the Executive whether as salary, bonus, or otherwise. This Agreement shall not be deemed to constitute a contract of employment between the parties hereto, nor shall any provision hereof restrict the right of the Bank to discharge the Executive or restrict the right of the Executive to terminate his employment. The rights accruing to the Executive or any designated beneficiary under the provisions of the Agreement shall be solely those of an unsecured creditor of the Bank.

Executive's Rights. This Agreement creates no right in the --------- ------------------ Executive to continue in the Bank's service for any specific length of time; nor does it create any other rights in the Executive or obligations on the part of the Bank, except those set forth in this Agreement. The benefits payable under this Agreement shall be independent of and in addition to, any other employment agreements that may exist from time to time between the parties hereto, concerning any other compensation payable by the Bank to the Executive whether as fees, salary, bonus, or otherwise. This Agreement shall not be deemed to constitute a contract of employment between the parties hereto, nor shall any provision hereof restrict the right of the Bank to discharge the Executive or restrict the right of the Executive to terminate his employment. The rights accruing to the Executive or any designated beneficiary under the provisions of the Agreement shall be solely those of an unsecured creditor of the Bank.

Executive's Rights. This Agreement creates no right in the --------- ------------------ Executive to continue in the Bank's service for any specific length of time; nor does it create any other rights in the Executive or obligations on the part of the Bank, except those set forth in this Agreement. The benefits payable under this Agreement shall be independent of and in addition to, any other employment agreements that may exist from time to time between the parties hereto, concerning any other compensation payable by the Bank to the Executive whether as fees, salary, bonus, or otherwise. This Agreement shall not be deemed to constitute a contract of employment between the parties hereto, nor shall any provision hereof restrict the right of the Bank to discharge the Executive or restrict the right of the Executive to terminate his her employment. The rights accruing to the Executive or any designated beneficiary under the provisions of the Agreement shall be solely those of an unsecured creditor of the Bank.