Common use of Term of Employment Clause in Contracts

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 3 contracts

Samples: Employment Agreement (Homestead Bancorp Inc), Employment Agreement (Ibl Bancorp), Employment Agreement (FPB Financial Corp)

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Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 3 contracts

Samples: Agreement (Fed One Bancorp Inc), Agreement (Esb Financial Corp), Amended Agreement (Esb Financial Corp)

Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 3 contracts

Samples: Agreement (Esb Financial Corp), Amended Agreement (Esb Financial Corp), Agreement (Fed One Bancorp Inc)

Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers Corporation of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 2 contracts

Samples: Agreement (Sovereign Bancorp Inc), Agreement (Sovereign Bancorp Inc)

Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 2 contracts

Samples: A) Agreement (Home Federal Corp), Agreement (Ibs Financial Corp)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer of the Corporation and the Bank and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation and the Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement. Prior to The term of this Agreement may be extended for an additional year on the first second annual anniversary of the date first above written of this Agreement, and on each annual anniversary thereafter, if the Boards of Directors of the Employers so approve such extension, such that at any time the remaining term of this Agreement shall be from one to two years. Prior to the second annual anniversary of the date of this Agreement and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, consider and review (after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors of the Employers elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 2 contracts

Samples: Agreement (Pboc Holdings Inc), Agreement (Pboc Holdings Inc)

Term of Employment. (a) The Employers hereby employ the Executive as Executive Vice President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (Gs Financial Corp)

Term of Employment. (a) The Employers hereby employ the Executive as President Vice President, Treasurer and Chief Executive Financial Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, subject to the requirements of the succeeding sentence, shall be deemed automatically, without further action, to extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the Boards manner set forth above unless either the Board of Directors so does not approve such extension unless and provides written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (WVS Financial Corp)

Term of Employment. (a) The Employers hereby employ the Executive as President Secretary and Chief Executive Officer Treasurer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three one (31) years year after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (Algiers Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer of the Corporation and President and Chief Executive Officer of the Bank and Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above written. Prior of this Agreement and, subject to the first requirements of the succeeding sentence, shall be deemed automatically, without further action, to extend for an additional year on each annual anniversary of the date first above written of this Agreement. Prior to the anniversary of the date of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the Boards manner set forth above unless either the Board of Directors so does not approve such extension unless and provides written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Laurel Capital Group Inc)

Term of Employment. (a) 1. The Employers Bank hereby employ employs the Executive as President as set forth below, and Chief Executive Officer and the Executive hereby accepts said this employment and agrees to render such services to the Employers Bank on the terms and conditions as set forth in this Agreement. Unless This Agreement shall be for a three (3) year period (the “Employment Period”) beginning on the Effective Date of the Consolidation, and if not previously terminated pursuant to the terms of this Agreement, shall end three years later (the “Initial Term”). The employment Period shall be extended automatically for one (1) additional year on the anniversary date of this Agreement (“Renewal Date”) and then on each anniversary of the Renewal Date of this Agreement thereafter, unless Bank or Executive gives contrary written notice to the other ninety (90) days prior to the anniversary date so that upon such anniversary of the Renewal Date if notice had not been previously given as provided in this Section 2I.1, this Agreement the Employment Period shall terminate continue for a three (3) years after year period thereafter. References in the date first above written. Prior Agreement to “Employment Period” shall refer to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term Initial Term of this Agreement shall continue and any extensions to extend each year if the Boards Initial Term. It is the intention of Directors so approve such extension the parties that this Agreement be “Evergreen” unless the Executive (i) either party gives written notice to the Employers other party of the Executive's election his or its intention not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then renew this Agreement shall terminate at the conclusion of its remaining term. References herein as provided above or (ii) this Agreement is terminated pursuant to the term Section VI of this Agreement shall refer both to the initial term and successive termsAgreement.

Appears in 1 contract

Samples: Executive Employment Agreement (Riverview Financial Corp)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer Senior Vice President, Community Banking and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer of the Corporation and the Bank, and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, the term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty ninety (3090) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, or if the Employers fail to give written notice of their election to extend as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Progress Financial Corp)

Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as Senior Vice President and Chief Executive Financial Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer Senior Vice President, Business Banking and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the effective date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the effective date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the effective date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Amended Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as Senior Vice President and Chief Executive Financial Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as Senior Vice President and Chief Executive Officer Secretary and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (FPB Financial Corp)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President Chairman of the Board and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as Executive Vice President and Chief Executive Financial Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after December 14, 2007 (the date first above written"Commencement Date"). Prior to the first annual anniversary of the date first above written Commencement Date and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (First Federal Bancshares of Arkansas Inc)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President President, Chief Operating Officer and Chief Executive Officer Secretary and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer President, ComNet Mortgage Services Division and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as President President, Chief Operating Officer and Chief Executive Officer Secretary and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the effective date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the effective date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the effective date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Amended Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Senior Vice President, Chief Executive Information Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the effective date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the effective date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the effective date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Amended Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as Senior Vice President and Chief Executive Financial Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the effective date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the effective date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the effective date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Amended Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer of the Corporation and President and Chief Executive Officer of the Bank and Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate three commence on February 28, 2004 and shall continue until February 28, 2007. Subject to the requirements of the succeeding sentence, commencing July 1, 2004 (3“Renewal Date”) years after and on each July 1st thereafter, the date first above writtenterm of this Agreement shall be deemed automatically, without further action, to extend for an additional year. Prior to the first annual anniversary of the date first above written Renewal Date and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance’s performance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the manner set forth above unless either the Boards of Directors so do not approve such extension unless and provide written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's ’s election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If date of the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining termRenewal Date. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Amended and Restated Agreement (Laurel Capital Group Inc)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer Senior Vice President, Community Banking and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the effective date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the effective date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the effective date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Amended Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer Senior Vice President, Business Banking and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer as________________________ and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first second annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, consider and review (after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year (beginning with the second annual anniversary date) if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any such annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Staten Island Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as Senior Vice President and Chief Executive Financial Officer of the Corporation and Senior Vice-President and Chief Financial Officer of the Bank and Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the effective date first above written. Prior of this Agreement and, subject to the first requirements of the succeeding sentence, shall be deemed automatically, without further action, to extend for an additional year on each annual anniversary of the date first above written of this Agreement. Prior to the anniversary of the date of this Agreement and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the manner set forth above unless either the Boards of Directors so does not approve such extension unless and provides written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Laurel Capital Group Inc)

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Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as President and Chief Executive Officer _______________________ and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Staten Island Bancorp Inc)

Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as President Chairman of the Board and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, subject to the requirements of the succeeding sentence, shall be deemed automatically, without further action, to extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the Boards manner set forth above unless either the Board of Directors so does not approve such extension unless and provides written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (WVS Financial Corp)

Term of Employment. (a) The Employers hereby employ the Executive as Executive Vice President and Chief Executive Financial Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's ’s performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's ’s election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (First Federal Bancshares of Arkansas Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President President-Chief Operating and Chief Executive Managing Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first third annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and the successive terms.

Appears in 1 contract

Samples: Employment Agreement (Vermilion Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as Executive Vice President and Chief Executive Operating Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's ’s performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's ’s election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (First Federal Bancshares of Arkansas Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, subject to the requirements of the succeeding sentence, shall be deemed automatically, without further action, to extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the Boards manner set forth above unless either the Board of Directors so does not approve such extension unless and provides written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (First Federal Financial Bancorp Inc)

Term of Employment. (a) The Employers Corporation hereby employ employs the Executive as President President, Chief Operating Officer and Chief Executive Officer Secretary and the Executive hereby accepts said employment and agrees to render such services to the Employers Corporation on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Corporation, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Corporation shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as Vice President and Chief Executive Lending Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, subject to the requirements of the succeeding sentence, shall be deemed automatically, without further action, to extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the Boards manner set forth above unless either the Board of Directors so does not approve such extension unless and provides written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (WVS Financial Corp)

Term of Employment. (a) The Employers hereby employ the Executive as Executive Vice President of the Corporation and Executive Vice President and Chief Executive Lending Officer of the Bank and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (Fidelity Financial of Ohio Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President President-Chief Operating and Chief Executive Managing Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's ’s performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's ’s election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (First Federal Bancshares of Arkansas Inc)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer President, Eastern Tennessee Region of the Bank, and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank, on the terms and conditions set forth in this Agreement. Unless The term of employment under this Agreement shall be for a term of three years, commencing on the date of this Agreement, unless such term is extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first third annual anniversary of the date first above written and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The After the expiration of the initial three-year term, the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension extension, unless the Executive gives written notice to the Employers Bank of the Executive's election not to extend the term, with such notice to be given not less than thirty sixty (3060) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty sixty (3060) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary dateextended, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Shareholder Agreement (PCB Bancorp Inc)

Term of Employment. (a) 1. The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer as set forth below, and the Executive hereby accepts said this employment and agrees to render such services to the Employers Bank on the terms and conditions as set forth in this Agreement. Unless This Agreement shall be for a three (3) year period (the “Employment Period”) beginning January 24, 2012, and if not previously terminated pursuant to the terms of this Agreement, shall end three years later (the “Initial Term”). The Employment Period shall be extended automatically for one (1) additional year on the anniversary date of this Agreement (“Renewal Date”) and then on each anniversary of the Renewal Date of this Agreement thereafter, unless the Bank or the Executive gives contrary written notice to the other ninety (90) days prior to the anniversary date so that upon such anniversary of the Renewal Date if notice had not been previously given as provided in this Section 2I.1, this Agreement the Employment Period shall terminate continue for a three (3) years after year period thereafter. References in the date first above written. Prior Agreement to “Employment Period” shall refer to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term Initial Term of this Agreement shall continue and any extensions to extend each year if the Boards Initial Term. It is the intention of Directors so approve such extension the parties that this Agreement be “Evergreen” unless the Executive (i) either party gives written notice to the Employers other party of the Executive's election his or its intention not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then renew this Agreement shall terminate at the conclusion of its remaining term. References herein as provided above or (ii) this Agreement is terminated pursuant to the term Section V of this Agreement shall refer both to the initial term and successive termsAgreement.

Appears in 1 contract

Samples: Executive Employment Agreement (Riverview Financial Corp)

Term of Employment. (a) The Employers hereby employ the Executive as Senior Vice President and Chief Executive Officer Corporate Secretary and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, subject to the requirements of the succeeding sentence, shall be deemed automatically, without further action, to extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the Boards manner set forth above unless either the Board of Directors so does not approve such extension unless and provides written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (WVS Financial Corp)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Senior Vice President, Chief Executive Information Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers Employer of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Commonwealth Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above written. Prior of this Agreement and, subject to the first requirements of the succeeding sentence, shall be deemed automatically, without further action, to extend for an additional year on each annual anniversary of the date first above written of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to November 1, 1997 and each annual anniversary thereafter, the Boards Board of Directors of the Employers shall consider, consider and review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year extension of the remaining term of under this Agreement. The , and the term of this Agreement shall continue to extend each year if in the manner set forth above unless either the Boards of Directors so of the Employers does not approve such extension unless and provides written notice to the Executive of such event or the Executive gives written notice to the Employers of the Executive's election not to extend the term, in each case with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Acadiana Bancshares Inc /La)

Term of Employment. (a) The Employers Bank hereby employ employs the Executive as President and Chief Executive Officer ____________________________ and the Executive hereby accepts said employment and agrees to render such services to the Employers Bank on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, The term of employment under this Agreement shall terminate be for three (3) years after years, commencing on the date first above writtenof this Agreement and, upon approval of the Board of Directors of the Bank, shall extend for an additional year on each annual anniversary of the date of this Agreement such that at any time the remaining term of this Agreement shall be from two to three years. Prior to the first annual anniversary of the date first above written of this Agreement and each annual anniversary thereafter, the Boards Board of Directors of the Employers Bank shall consider, consider and review (after taking into account all relevant factors, including the Executive's performanceperformance hereunder) and, if appropriate, explicitly approve a one-year an extension of the remaining term of this Agreement. The , and the term of this Agreement shall continue to extend each year if the Boards Board of Directors so approve approves such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards Board of Directors elect elects not to extend the term, they it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Agreement (Staten Island Bancorp Inc)

Term of Employment. (a) The Employers hereby employ the Executive as President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate three (3) years after the date first above written. Prior to the first annual anniversary of the date first above written and each annual anniversary thereafter, the Boards of Directors of the Employers shall consider, review (with appropriate corporate documentation thereof, and after taking into account all relevant factors, including the Executive's performance) and, if appropriate, explicitly approve a one-year extension of the remaining term of this Agreement. The term of this Agreement shall continue to extend each year if the Boards of Directors so approve such extension unless the Executive gives written notice to the Employers of the Executive's election not to extend the term, with such notice to be given not less than thirty (30) days prior to any such anniversary date. If the Boards of Directors elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended as of any annual anniversary date, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

Appears in 1 contract

Samples: Employment Agreement (Gs Financial Corp)

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