Common use of Termination of Prior Agreement Clause in Contracts

Termination of Prior Agreement. The Prior Agreement shall remain in full force and effect until the Effective Date. Thereafter, on the Effective Date, Executive and the Bank hereby agree that the Prior Agreement shall be terminated without any further action of any of the parties thereto. Executive hereby acknowledges and agrees that Executive has no contractual rights to any payments or benefits under the Prior Agreement as of the Effective Date.

Termination of Prior Agreement. The Prior Agreement shall remain in full force and effect until the Effective Date. Thereafter, on the Effective Date, Executive and the Bank Company hereby agree that the Prior Agreement shall be terminated without any further action of any of the parties thereto. Executive hereby acknowledges and agrees that Executive has no contractual rights to any payments or benefits under the Prior Agreement as of the Effective Date.

Termination of Prior Agreement. The Prior Agreement shall remain in full force and effect until the Effective Date. Thereafter, on the Effective Date, Executive and the Bank EU hereby agree that the Prior Agreement shall be terminated without any further action of any of the parties thereto. Executive hereby acknowledges and agrees that Executive has no contractual rights to any payments or benefits under the Prior Agreement as of the Effective Date.

Termination of Prior Agreement. The Prior Agreement shall remain in full force and effect until the Effective Date. Thereafter, on On the Effective Date, Executive Executive, the Company and the Bank hereby agree that the Prior Agreement shall be terminated without any further action of any of the parties hereto or thereto. Executive hereby acknowledges and agrees that Executive has no contractual rights to any payments or benefits under the Prior Agreement as of the Effective Date.

Termination of Prior Agreement. The Prior Agreement shall remain in full force and effect until the Effective Date. Thereafter, on On the Effective Date, the Executive and the Bank hereby agree that the Prior Agreement shall be terminated without any further action of any of the parties hereto or thereto. The Executive hereby acknowledges and agrees that the Executive has no contractual rights to any payments or benefits under the Prior Agreement as of the Effective Date.. [Signature Page Follows]

Termination of Prior Agreement. The Prior Agreement shall remain in full force and effect until the Effective Date. Thereafter, on On the Effective Date, Executive Executive, the Company and the Bank hereby agree that the Prior Agreement shall be terminated without any further action of any of the parties hereto or thereto. Executive hereby acknowledges and agrees that Executive has no contractual rights to any payments or benefits under the Prior Agreement as of the Effective Date.Date and that any such payments or benefits shall be payable pursuant to a Settlement Agreement between Executive, SBBX, SB One Bank, the Company and the Bank dated March 11, 2020. [Signature Page Follows]

Termination of Prior Agreement. The Prior Agreement shall remain in full force and effect until the Effective Date. Thereafter, on On the Effective Date, the Executive and the Bank hereby agree that the Prior Agreement shall be terminated without any further action of any of the parties hereto or thereto. The Executive hereby acknowledges and agrees that the Executive has no contractual rights to any payments or benefits under the Prior Agreement as of the Effective Date.