Common use of Termination by the Bank Clause in Contracts

Termination by the Bank. Notwithstanding the provisions of paragraph 5(a), if The Bank or its successors in interest by merger, or their transferees in the event of a purchase and assumption transaction, and for reasons other than the provisions in paragraphs 5(d) and 5(e) terminates this Agreement within twenty-four (24) months following a Change in Control, The Bank will pay the Executive thirty six (36) times the base compensation received by the Executive during the most recent calendar month ending on or prior to the effective date of termination, less statutory payroll deductions. Payment under this paragraph shall be made in accordance with The Bank’s ordinary payroll policies and procedures, unless the parties mutually agree to a different payment schedule.

Termination by the Bank. Notwithstanding the provisions of paragraph 5(a), if The Bank or its successors in interest by merger, or their transferees in the event of a purchase and assumption transaction, and for reasons other than the provisions in paragraphs 5(d) and 5(e) terminates this Agreement within twenty-four (24) months following a Change in Control, The Bank will pay the Executive thirty six twenty four (3624) times the base compensation received by the Executive during the most recent calendar month ending on or prior to the effective date of termination, less statutory payroll deductions. Payment under this paragraph shall be made in accordance with The Bank’s ordinary payroll policies and procedures, unless the parties mutually agree to a different payment schedule.

Termination by the Bank. Notwithstanding the provisions of paragraph 5(a), if The Bank or its successors in interest by merger, or their transferees in the event of a purchase and assumption transaction, and for reasons other than the provisions in paragraphs 5(d) and 5(e) terminates this Agreement within twenty-four (24) months following a Change in Control, The Bank will pay the Executive thirty six Officer eighteen (3618) times the base compensation received by the Executive Officer during the most recent calendar month ending on or prior to the effective date of termination, less statutory payroll deductions. Payment under this paragraph shall be made in accordance with The Bank’s ordinary payroll policies and procedures, unless the parties mutually agree to a different payment schedule.

Termination by the Bank. Notwithstanding the provisions of paragraph 5(a), if The Bank or its successors in interest by merger, or their transferees in the event of a purchase and assumption transaction, and for reasons other than the provisions in paragraphs 5(d5(c) and 5(e5(d) terminates this Agreement within twenty-four (24) months following a Change in Control, The Bank will pay the Executive thirty six twenty four (3624) times the base compensation received by the Executive during the most recent calendar month ending on or prior to the effective date of termination, less statutory payroll deductions. Payment under this paragraph shall be made in accordance with The Bank’s ordinary payroll policies and procedures, unless the parties mutually agree to a different payment schedule.