Common use of Removal Without Cause Clause in Contracts

Removal Without Cause. The Corporation or the Bank shall have the right at any time upon written notice to Xxxxxx, to terminate the employment of Xxxxxx hereunder. If such termination by the Corporation or the Bank is not by reason of disability pursuant to paragraph (b), of this Section 5 or for cause pursuant to paragraph (c) of this Section 5, FNB shall be obligated to continue to pay the Compensation and provide the Benefits to Xxxxxx for twenty-four (24) months, at the rate, times and intervals at which such Compensation and Benefits are being paid or provided as of the date on which FNB terminates the employment of Xxxxxx.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (First Chester County Corp), Employment Agreement (First Chester County Corp)

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Removal Without Cause. The Corporation or the Bank shall have the right at any time upon written notice to XxxxxxXxxxx, to terminate the employment of Xxxxxx Xxxxx hereunder. If such termination by the Corporation or the Bank is not by reason of disability pursuant to paragraph (b), of this Section 5 or for cause pursuant to paragraph (c) of this Section 5, FNB shall be obligated to continue to pay the Compensation and provide the Benefits to Xxxxxx Xxxxx for twenty-four twelve (2412) months, at the rate, times and intervals at which such Compensation and Benefits are being paid or provided as of the date on which FNB terminates the employment of XxxxxxXxxxx.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (First Chester County Corp), Employment Agreement (First Chester County Corp)

Removal Without Cause. The Corporation or the Bank shall have the right at any time time, upon written notice to XxxxxxFxxxxxxxxx, to terminate terminate, without cause, the employment of Xxxxxx Fxxxxxxxxx hereunder. If such termination by the Corporation or the Bank is not by reason of death, disability or For Cause pursuant to paragraph (b), of this Section 5 or for cause pursuant to paragraph (c) of this Section 5, FNB shall be obligated to continue to pay the Compensation and provide the Benefits to Xxxxxx Fxxxxxxxxx for twenty-four (24) months, at the raterates, times and intervals at which such Compensation and Benefits are being paid or provided as of the date on which FNB terminates the employment of XxxxxxFxxxxxxxxx.

Appears in 1 contract

Samples: Employment Agreement (First Chester County Corp)

Removal Without Cause. The Corporation or the Bank shall have the right at any time time, upon written notice to XxxxxxXxxxx, to terminate , "without cause", the employment of Xxxxxx Xxxxx hereunder. If such termination by the Corporation or the Bank is not by reason of death, disability or For Cause pursuant to paragraph (b), of this Section 5 or for cause pursuant to paragraph (c) of this Section 5, FNB shall be obligated to continue to pay the Compensation and provide the Benefits to Xxxxxx Xxxxx for twenty-four (24) monthsthe remainder of the Term or for one year, whichever is longer, at the raterates, times and intervals at which such Compensation and Benefits are being paid or provided as of the date on which FNB terminates the employment of XxxxxxXxxxx.

Appears in 1 contract

Samples: Executive Employment Agreement (First Chester County Corp)

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Removal Without Cause. The Corporation or the Bank shall have the right at any time upon written notice to XxxxxxQxxxx, to terminate the employment of Xxxxxx Qxxxx hereunder. If such termination by the Corporation or the Bank is not by reason of disability pursuant to paragraph (b), of this Section 5 or for cause pursuant to paragraph (c) of this Section 5, FNB shall be obligated to continue to pay the Compensation and provide the Benefits to Xxxxxx Qxxxx for twenty-four (24) months, at the rate, times and intervals at which such Compensation and Benefits are being paid or provided as of the date on which FNB terminates the employment of XxxxxxQxxxx.

Appears in 1 contract

Samples: Employment Agreement (First Chester County Corp)

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