PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) Upon the occurrence of an Event of Termination (as herein defined) during the Executive's term of employment under this Agreement, the provisions of this Section shall apply. As used in this Agreement, an "
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) The provisions of this Section 6 shall apply upon the occurrence of an Event of Termination (as herein defined) during Executive’s term of employment under this Agreement. As used in this Agreement, an “Event of Termination” shall mean and include any one or more of the following:
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. The provisions of this Section shall in all respects be subject to the terms and conditions stated in Sections 7 and 14.
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) Upon the occurrence of an Event of Termination (as herein defined) during the term of this Agreement, the provisions of this Section 4 shall apply; provided, however, that in the event such Event of Termination occurs within eighteen (18) months following a Change in Control (as defined in Section 5 hereof), Section 5 shall apply instead. As used in this Agreement, an “Event of Termination’’ shall mean and include any one or more of the following:
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) Upon the occurrence of an Event of Termination (as herein defined) during the Executive’s term of employment under this Agreement, the provisions of this Section shall apply. As used in this Agreement, an “Event of Termination” shall mean and include any one or more of the following: (i) the termination of Executive’s full-time employment hereunder due to expiration of this Agreement pursuant to Paragraph 2(a); (ii) the termination by the Bank of Executive’s full-time employment hereunder for any reason other than a Change in Control as defined in Paragraph 5(a) hereof or for Cause as defined in Paragraph 8 hereof; disability, as defined in Paragraph 6(a) hereof; death; retirement, as defined in Paragraph 7 hereof; (iii) Executive’s resignation from the Bank’s employment, upon (A), unless consented to by the Executive, a material change in Executive’s function, duties, or responsibilities, which change would cause Executive’s position to become one of lesser responsibility, importance, or scope from the position and attributes thereof described in Paragraphs 1 and 2, above, (any such material change shall be deemed a continuing breach of this Agreement); (B) a relocation of Executive’s principal place of employment by more than fifty(50) miles from its location at the effective date of this Agreement, or a material reduction in the benefits and perquisites to Executive from those being provided as of the effective date of this Agreement; (C) the liquidation or dissolution of the Bank; or (D) any breach of this Agreement by the Bank. Upon the occurrence of any event described in clauses (A), (B), (C), or (D), above, Executive shall have the right to elect to terminate his employment under this Agreement by resignation upon not less than sixty (60) days prior written notice to the Bank given within a reasonable period of time not to exceed, except in case of a continuing breach, four (4)calendar months after the event giving rise to said right to elect.
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) Upon the occurrence of an Event of Termination (as herein defined) during the term of this Agreement, the provisions of this Section 4 shall apply. As used in this Agreement, an “Event of Termination’’ shall mean and include any one or more of the following:
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) Upon the occurrence of an Event of Termination (as herein defined) during Executive’s term of employment under this Agreement, the provisions of this Section 4 shall apply. Unless Executive otherwise agrees, as used in this Agreement, an “Event of Termination” shall mean and include any one or more of the following: (i) the termination by the Holding Company or the Bank of Executive’s full-time employment with the Holding Company or the Bank for any reason other than a termination for “Just Cause” (as defined in Section 7 of this Agreement); or (ii) Executive’s resignation from the Holding Company or the Bank upon any (A) material change in Executive’s function, duties, or responsibilities with the Holding Company or the Bank, which change would cause Executive’s position(s) to become of lesser responsibility, importance, or scope, (B) relocation of Executive’s principal place of employment by more than 25 miles from the Holding Company’s offices, (C) material reduction in the benefits and perquisites to Executive from those being provided as of the effective date of this Agreement, (D) liquidation or dissolution of the Holding Company or the Bank, or (E) material breach of this Agreement by the Holding Company. Upon the occurrence of any event described in clauses (A), (B), (C), (D), or (E) above, Executive shall have the right to terminate his employment under this Agreement by resignation upon not less than sixty (60) days prior written notice given within six (6) full calendar months after the event giving rise to Executive’s right to elect to terminate his employment. In addition, “
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) Upon the occurrence of an Event of Termination (as herein defined) during Executive’s term of employment under this Agreement, the provisions of this Section 4 shall apply. Unless Executive agrees otherwise, as used in this Agreement, an “Event of Termination” shall mean and include any one or more of the following: (i) the termination by the Company of Executive’s full-time employment for any reason other than a termination governed by Section 6 of this Agreement; or (ii) Executive’s resignation from the Company for “Good Reason.” Good Reason shall include any of the following:
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) Upon the occurrence of an Event of Termination (as herein defined) during the term of this Agreement, the provisions of this Section 4 shall apply; provided, however, that benefits shall be provided either under Section 4 or Section 5 (related to a Change in Control), but not both, such that to the extent the Executive has received payments under one of those Sections, the Executive shall not receive payments under the other of those Sections. As used in this Agreement, an "Event of Termination" shall mean and include any one or more of the following:
PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. (a) If the Association or Company terminates, actually or constructively, the Executive's employment during the TERM for any reason other than a termination governed by Section 5 hereof, or termination for Cause, as defined in Section 7 hereof, the Association shall be obligated to pay Executive within thirty (30) days after his termination, or, in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, in a lump sum amount equal to (i) the cost of providing medical and dental coverage through COBRA continuation coverage, similar to the coverage in effect at the time of Executive's termination, for a period of one year, (ii) an amount equal to the then currently targeted annual bonus as defined in the Cash Incentive Bonus Plan of the Association, regardless of the time of year such termination occurs and in addition to any annual bonus earned but not yet paid for Executive's services provided in a prior year, and (iii) the greater of an amount equal to one times Executives then current year's Base Salary or the Executive's pro-rata Base Salary for the remainder of the TERM of the Agreement. Such payments shall not be reduced in the event Executive obtains other employment following termination of employment. No payments under this Section 4(a) are to be "grossed up" or otherwise adjusted based upon the personal income tax consequences to or status of Executive. No payments under this Section 4(a) are to be discounted or "present valued" in any manner. If Executive voluntarily resigns during the term of this Agreement, other than in the event of a Change In Control or Threatened Change In Control as hereinafter defined, or in the event of an actual or constructive termination as defined in this Section 4, Executive shall not be entitled to receive any payments or benefits beyond those earned through the date of such voluntary resignation. Constructive termination under this Section will be deemed to occur if the Executive is forced to resign his employment due to intolerable conditions as defined by California law or if Executive terminates his employment due to (i) a reduction of the Executive's title or status or resulting from a formal change in such title or status, (ii) a material reduction in Executive's responsibilities, (iii) the assignment to the Executive of any duties inconsistent with his title, duties or responsibilities in effect, (iv) a material reduction in Executive's compensation or benefits ...
