Termination and Termination Pay. (a) Employee’s employment under this Agreement may be terminated at any time by Employee upon sixty (60) days written notice to the Bank. Upon such termination, Employee shall be entitled to receive compensation through the effective date of such termination; provided, however, that the Bank, in its sole discretion, may elect for Employee not to serve out part or all of said notice period.
Appears in 6 contracts
Samples: Employment Agreement (New Century Bancorp Inc), Employment Agreement (New Century Bancorp Inc), Employment Agreement (United Financial Inc)
Termination and Termination Pay. (a) Employee’s employment under this Agreement may be terminated at any time by Employee upon sixty (60) days prior written notice to the Bank. Upon such termination, Employee shall be entitled to receive compensation through the effective date of such termination; provided, however, that the Bank, in its sole discretion, may elect for Employee not to serve out part or all of said notice period.
Appears in 5 contracts
Samples: Employment Agreement (Select Bancorp, Inc.), Employment Agreement (Select Bancorp, Inc.), Employment Agreement (Select Bancorp, Inc.)
Termination and Termination Pay. (a) Employee’s employment under this Agreement may be terminated at any time by Employee upon sixty ninety (6090) days written notice to the Bank. Upon such termination, Employee shall be entitled to receive compensation through the effective date of such termination; provided, however, that the Bank, in its sole discretion, may elect for Employee not to serve out part or all of said notice period.
Appears in 4 contracts
Samples: Employment Agreement (New Century Bancorp Inc), Employment Agreement (New Century Bancorp Inc), Employment Agreement (New Century Bancorp Inc)
Termination and Termination Pay. (a) Employee’s 's employment under this Agreement may be terminated at any time by Employee upon sixty ninety (6090) days written notice to the Bank. Upon such termination, Employee shall be entitled to receive compensation through the effective date of such termination; provided, however, that the Bank, in its sole discretion, may elect for Employee not to serve out part or all of said notice period.
Appears in 2 contracts
Samples: Employment Agreement (Carolina Bank Holdings Inc), Agreement and Plan of Reorganization and Merger (Crescent Financial Corp)
Termination and Termination Pay. (a) Employee’s 's employment under this Agreement may be terminated at any time by Employee upon sixty (60) days written notice to the Bank. Upon such termination, Employee shall be entitled to receive compensation through the effective date of such termination; provided, however, that the Bank, in its sole discretion, may elect for Employee not to serve out part or all of said notice period.
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Termination and Termination Pay. (a) Employee’s Executive's employment under this Agreement may be terminated at any time by Employee Executive upon sixty (60) days written notice to the Bank. Upon such termination, Employee Executive shall be entitled to receive compensation through the effective date of such termination; provided, however, that the Bank, in its sole discretion, may elect for Employee Executive not to serve out part or all of said notice period.
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