Common use of Three Year Contract; Annual Renewal Clause in Contracts

Three Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of three (3) years. Commencing on the first anniversary date of this Agreement (the “Anniversary Date”) and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is always three (3) years; provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Anniversary Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Date. If the Board fails to conduct the comprehensive performance evaluation or performs such comprehensive evaluation and inadvertently fails to provide such notice of nonrenewal, this Agreement shall not renew. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs.

Three Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of three (3) years. Commencing on the first anniversary date of this Agreement (the “Anniversary Date”) and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is always between two (2) to three (3) years; provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for {Clients/1379/00388660.DOCX/ } purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Anniversary Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Date. If For avoidance of doubt, any extension to the Board fails to conduct Term will become the comprehensive performance evaluation or performs such comprehensive evaluation and inadvertently fails to provide such notice “Term” for purposes of nonrenewal, this Agreement shall not renewAgreement. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs.

Three Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of three thirty-six (336) yearsfull calendar months thereafter. Commencing on the first anniversary date As of this Agreement January 1st of each year (the “Anniversary Renewal Date”) and continuing on each Anniversary Date thereafter), beginning with the term of first January 1st following the Effective Date, this Agreement shall renew for an additional year such that the remaining term of this Agreement is always three shall again be thirty-six (336) yearsfull calendar months from the Renewal Date (the “Term”); provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to must take the following actions within the time frames set forth below prior to each Anniversary Renewal Date: (i) at least thirty twenty (3020) days prior to the Anniversary Renewal Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Anniversary Renewal Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Renewal Date. If the Board fails to conduct the comprehensive performance evaluation or performs such comprehensive evaluation and inadvertently fails to provide such notice of nonrenewal, this Agreement shall not renew. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs.. ​

Three Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of three thirty-six (336) yearsfull calendar months thereafter. Commencing on the first anniversary date As of this Agreement January 1st of each year (the “Anniversary Renewal Date”) and continuing on each Anniversary Date thereafter), beginning with the term of first January 1st following the Effective Date, this Agreement shall renew for an additional year such that the remaining term of this Agreement is always three shall again be thirty-six (336) yearsfull calendar months from the Renewal Date (the “Term”); provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to must take the following actions within the time frames set forth below prior to each Anniversary Renewal Date: (i) at least thirty twenty (3020) days prior to the Anniversary Renewal Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Anniversary Renewal Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Renewal Date. If the Board fails to conduct the comprehensive performance evaluation or performs such comprehensive evaluation and inadvertently fails to provide such notice of nonrenewal, this Agreement shall not renew. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs.

Three Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and continue until December 31, 2023. Commencing on January 1, 2024, the term shall continue thereafter for a period of three (3) years. Commencing on the first anniversary date of this Agreement years (the “Anniversary DateTerm”) and continuing on January 1, 2025 and each Anniversary Date thereafterJanuary 1 thereafter (each, a “Renewal Date”), the term Term of this ​ ​ ​ Agreement shall renew for an additional year such that the remaining term of this Agreement is always three (3) years; provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to must take the following actions within the time frames set forth below prior to each Anniversary Renewal Date: (i) at least thirty (30) days prior to the Anniversary Renewal Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Anniversary Renewal Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Renewal Date. If the Board fails to conduct the comprehensive performance evaluation or performs such comprehensive evaluation and inadvertently fails to provide such notice of nonrenewal, this Agreement shall not renew. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs.

Three Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and continue until December 31, 2023. Commencing on January 1, 2024, the term shall continue thereafter for a period of three (3) years. Commencing on the first anniversary date of this Agreement years (the “Anniversary DateTerm”) and continuing on January 1, 2025 and each Anniversary Date thereafterJanuary 1 thereafter (each, a “Renewal Date”), the term Term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is always three (3) years; provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to must take the following actions within the time frames set forth below prior to each Anniversary Renewal Date: (i) at least thirty (30) days prior to the Anniversary Renewal Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Anniversary Renewal Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Renewal Date. If the Board fails to conduct the comprehensive performance evaluation or performs such comprehensive evaluation and inadvertently fails to provide such notice of nonrenewal, this Agreement shall not renew. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs.

Three Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of three (3) years. Commencing on the first anniversary date of this Agreement (the “Anniversary Date”) and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is always between two (2) to three (3) years; provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for {Clients/1379/00388717.DOCX/ } purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Anniversary Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Date. If For avoidance of doubt, any extension to the Board fails to conduct Term will become the comprehensive performance evaluation or performs such comprehensive evaluation and inadvertently fails to provide such notice “Term” for purposes of nonrenewal, this Agreement shall not renewAgreement. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs.

Three Year Contract; Annual Renewal. The term of this Agreement and the period of Executive’s employment hereunder shall commence begin as of the Effective Date and shall continue thereafter for a period of three thirty-six (336) yearsfull calendar months thereafter. Commencing on the first December 31, 2016 and continuing on each anniversary date of this Agreement thereafter (the “Anniversary Date”) and continuing on each Anniversary Date thereafter), the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is always three shall be thirty-six (336) years; months, provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least thirty ninety (3090) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which such decision shall be included in the minutes of the Board’s meeting. Failure of the disinterested members of the Board to take the actions set forth above will result in the non-renewal of this Agreement. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) at least five (5) days prior to any Anniversary Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Date. The failure of the Board to affirmatively issue the Non-Renewal Notice shall not be construed as the renewal of this Agreement. If the Board fails to conduct inform the comprehensive performance evaluation Executive of its determination regarding the renewal or performs such comprehensive evaluation and inadvertently fails to provide such notice non-renewal of nonrenewalthis Agreement, this Agreement shall not renew. Notwithstanding the foregoingExecutive may request, in writing, the event that results of the Company Board’s action (or non-action) and the Bank has entered into an agreement Board shall, within thirty (30) days of the receipt of such request, provide a written response to effect a transaction which would be considered a Change in Control as defined below, then Executive. Reference herein to the term of this Agreement shall be refer to both such initial term and such extended and shall terminate thirty-six (36) months following the date on which the Change in Control occursterms.

Three Year Contract; Annual Renewal. The term of this Agreement shall commence as of the Effective Date and shall continue thereafter for a period of three (3) years. Commencing on the first anniversary date of this Agreement (the “Anniversary Date”) and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is always between two (2) to three (3) years; provided, however, that in order for this Agreement to renew, the disinterested members (other than Executive and his affiliates) of the Board of Directors of the Bank (the “Board”) shall use best efforts to must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least thirty (30) days prior to the Anniversary Date, conduct or review a comprehensive performance evaluation of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the {Clients/1379/00388659.DOCX/ } renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall use best efforts to provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to any Anniversary Date, such that this Agreement shall terminate at the end of twenty-four (24) months following such Anniversary Date. If For avoidance of doubt, any extension to the Board fails to conduct Term will become the comprehensive performance evaluation or performs such comprehensive evaluation and inadvertently fails to provide such notice “Term” for purposes of nonrenewal, this Agreement shall not renewAgreement. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs.