Common use of Term and Annual Renewal Clause in Contracts

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of the Effective Date (as defined in Section 18 below) and will continue for 36 full calendar months after each “Anniversary Date,” which shall be May 1st of each year. Commencing on the first Anniversary Date following the Effective Date and continuing on each Anniversary Date thereafter, this Agreement will renew for an additional year such that the remaining term will be 36 months; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five business days after such action is taken, in which event this Agreement will terminate 24 months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of the Effective Date (as defined in Section 18 below) and will continue for 36 thirty-six (36) full calendar months after each “Anniversary Date,” which shall be May July 1st of each year. Commencing on the first Anniversary Date following the Effective Date and continuing on each Anniversary Date thereafter, this Agreement will renew for an additional year such that the remaining term will be 36 thirty-six (36) months; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five business days after such action is taken, in which event this Agreement will terminate 24 twenty-four (24) months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of the Effective Date (as defined in Section 18 below) and will continue for 36 twenty-four (24) full calendar months after each “Anniversary Date,” which shall be May July 1st of each year. Commencing on the first Anniversary Date following the Effective Date and continuing on each Anniversary Date thereafter, this Agreement will renew for an additional year such that the remaining term will be 36 twenty-four (24) months; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five business days after such action is taken, in which event this Agreement will terminate 24 twelve (12) months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of the Effective Date (as defined in Section 18 below) and will continue for 36 thirty-six (36) full calendar months after each “Anniversary Date,” which shall be May July 1st of each year. Commencing on the first Anniversary Date following the Effective Date and continuing on each Anniversary Date thereafter, this Agreement will renew for an additional year such that the remaining term will be 36 thirty-six (36) months; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank Company (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five business days after such action is taken, in which event this Agreement will terminate 24 twenty-four (24) months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will shall begin as of the Effective Date (as defined in Section 18 below) and will shall continue for 36 full calendar months after each “Anniversary Date,” which shall be May 1st of each yearthrough December 31, 2019. Commencing on the first Anniversary Date following the Effective Date January 1, 2018 and continuing on each Anniversary Date thereafterJanuary 1st thereafter (the “Renewal Date”), this Agreement will shall renew for an additional year such that the remaining term will shall be 36 months; three (3) years, provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Renewal Date: (i1) at least 30 days prior to each Renewal Date, conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii2) affirmatively approve the renewal or non-renewal of this Agreement and include Agreement, which such decision shall be included in the minutes of the Board’s meeting. If the decision of the disinterested members of the Board decide is not to renew this Agreement, then the Board will shall provide Executive with a written notice of non-renewal (the “Non-Renewal Notice”) no later than five business at least 15 days after prior to any Renewal Date, such action is taken, in which event that this Agreement will shall terminate at the end of 24 months from the Anniversary following such Renewal Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Renewal Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that request, in writing, the Board provide Executive with results of the reason(s) for its Board’s action (or non-action), ) and the Board will respond to Executive shall, within 30 10 days of the receipt of such request, provide a written response to Executive. Reference herein to the term of this Agreement will shall refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of the Effective Date (as defined in Section 18 below) and will continue for 36 full calendar months after each “Anniversary Date,” which shall be May 1st of each year. Commencing on the first Anniversary Date following the Effective Date and continuing on each Anniversary Date thereafter, this Agreement will renew for an additional year such that the remaining term will be 36 months; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five business days after such action is taken, in which event this Agreement will terminate 24 months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will shall begin as of the Effective Date (as defined in Section 18 below) and will shall continue for 36 full calendar months after each “Anniversary Date,” which shall be May 1st of each yearthrough December 31, 2017. Commencing on the first Anniversary Date following the Effective Date January 1, 2018 and continuing on each Anniversary Date thereafterJanuary 1st thereafter (the “Renewal Date”), this Agreement will shall renew for an additional year such that the remaining term will shall be 36 months; one (1) year, provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Renewal Date: (i1) at least 30 days prior to each Renewal Date, conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii2) affirmatively approve the renewal or non-renewal of this Agreement and include Agreement, which such decision shall be included in the minutes of the Board’s meeting. If the decision of the disinterested members of the Board decide is not to renew this Agreement, then the Board will shall provide Executive with a written notice of non-renewal (the “Non-Renewal Notice”) no later than five business at least 15 days after prior to any Renewal Date, such action is taken, in which event that this Agreement will shall terminate 24 months from the Anniversary immediately following such Renewal Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Renewal Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that request, in writing, the Board provide Executive with results of the reason(s) for its Board’s action (or non-action), ) and the Board will respond to Executive shall, within 30 10 days of the receipt of such request, provide a written response to Executive. Reference herein to the term of this Agreement will shall refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of the Effective Date (as defined in Section 18 below) and will continue for 36 thirty-six (36) full calendar months after each “Anniversary Date,” which shall be May July 1st of each year. Commencing on the first Anniversary Date following the Effective Date and continuing on each Anniversary Date thereafter, this Agreement will renew for an additional year such that the remaining term will be 36 thirty-six (36) months; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five business days after such action is taken, in which event this Agreement will terminate 24 twenty-four (24) months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s 's employment hereunder will shall begin as of the Effective Date (as defined in Section 18 below) and will shall continue for 36 full calendar months after each “Anniversary Date,” which shall be May 1st of each yearthrough December 31, 2018. Commencing on the first Anniversary Date following the Effective Date January 1, 2019 and continuing on each Anniversary Date thereafterJanuary 1st thereafter (the "Renewal Date"), this Agreement will shall renew for an additional year such that the remaining term will shall be 36 months; one (1) year, provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “"Board”") must take the following actions within the time frames set forth below prior to each Anniversary Renewal Date: (i1) at least 30 days prior to each Renewal Date, conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii2) affirmatively approve the renewal or non-renewal of this Agreement and include Agreement, which such decision shall be included in the minutes of the Board’s 's meeting. If the decision of the disinterested members of the Board decide is not to renew this Agreement, then the Board will shall provide Executive with a written notice of non-renewal (“the "Non-Renewal Notice”") no later than five business at least 15 days after prior to any Renewal Date, such action is taken, in which event that this Agreement will shall terminate 24 months from at the Anniversary Dateend of the term in effect. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Renewal Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that request, in writing, the Board provide Executive with results of the reason(s) for its Board's action (or non-action), ) and the Board will respond to Executive shall, within 30 10 days of the receipt of such request, provide a written response to Executive. Reference herein to the term of this Agreement will shall refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of the Effective Date (as defined in Section 18 below) and will continue for 36 twenty-four (24) full calendar months after each “Anniversary Date,” which shall be May July 1st of each year. Commencing on the first Anniversary Date following the Effective Date July 1, 2018, and continuing on each July 1st thereafter (each, an “Anniversary Date thereafterDate”), this Agreement will renew for an additional year such that the remaining term will be 36 monthstwenty-four (24) months from such Anniversary Date; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five business days after such action is taken, in which event this Agreement will terminate 24 twelve (12) months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of the Effective Date (as defined in Section 18 below) and will continue for 36 thirty-six (36) full calendar months after each “Anniversary Date,” which shall be May July 1st of each year. Commencing on the first Anniversary Date following the Effective Date and continuing on each Anniversary Date thereafter, this Agreement will renew for an additional year such that the remaining term will be 36 thirty-six (36) months; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five business days after such action is taken, in which event this Agreement will terminate 24 twenty-four (24) months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will refer to both such initial term and such extended terms.

Term and Annual Renewal. The initial term of this Agreement and the period of Executive’s employment hereunder will begin as of upon the Effective Date (as defined in Section 18 below) Time and will continue for 36 full calendar months after each “Anniversary Date,” which shall be end on April 30, 2023. Commencing on May 1, 2021 and continuing on May 1st of each year. Commencing on calendar year thereafter (each, the first “Anniversary Date following the Effective Date and continuing on each Anniversary Date thereafterDate”), this Agreement will renew for an additional year such that the remaining term will be 36 months; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal of this Agreement and include such decision in the minutes of the Board’s meeting. If the disinterested members of the Board decide not to renew this Agreement, then the Board will provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) no later than five (5) business days after such action is taken, in which event this Agreement will terminate 24 months from the Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request that the Board provide Executive with the reason(s) for its action (or non-action), and the Board will respond to Executive within 30 days of the receipt of such request. Reference herein to the term of this Agreement will “Term” shall refer to both such initial term and such extended terms.