Term of Employment and Duties. (a) The Bank hereby employs the Executive as the Executive Vice President and Chief Financial Officer of the Bank, and the Executive hereby accepts said employment and agrees to render such services to the Bank on the terms and conditions set forth in this Agreement. The terms and conditions of this Agreement shall be and remain in effect during the period beginning on the Effective Date of this Agreement and ending on the second anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to Section 2(b) hereof (the “Employment Period”).
Term of Employment and Duties. (a) The Corporation hereby employs the Executive as President and Chief Operating Officer and the Executive hereby accepts said employment and agrees to render such services to the Corporation on the terms and conditions set forth in this Agreement. The terms and conditions of this Agreement shall be and remain in effect during the period of three years beginning on the Effective Date of this Agreement and ending on the third anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to Section 2(b) hereof (the “Employment Period”).
Term of Employment and Duties. The Company and Xxxxxx agree that for the period commencing on January 3, 2001, and terminating on January 3, 2002 (the "Termination Date"), the Company shall employ Xxxxxx and Xxxxxx shall perform duties ("duties") for the Company as Administrative Manager and shall report to the Company's President.
Term of Employment and Duties. 1.1 Agreement ................................................. 2 1.2 Term ...................................................... 2 1.3 Position .................................................. 3
Term of Employment and Duties. (a) The Employers hereby employ the Executive as the Chief Financial Officer of the Corporation and as the Senior Vice President, Treasurer and Chief Financial 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. The term of employment under this Agreement shall be for two years commencing on the Effective Date. Upon approval of the Board of Directors of each of the Employers, the term of employment shall extend for an additional year on each annual anniversary of the Effective Date such that at any time the remaining term of this Agreement shall be from one to two years in the absence of notice to the contrary. Prior to each annual anniversary of the Effective Date, the Board of Directors of each of the Employers shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) an extension of the term of this Agreement, and the term shall continue to extend on each annual anniversary of the Effective Date if the Boards of Directors 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 Board of Directors of either of the Employers elects not to extend the term, 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 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.
Term of Employment and Duties. The Company and Mabie agree that for the xxxxxd commencing on August 1st, 2001 and terminating on August 1, 2002 (the "Termination Date"), the Company shall employ Mabie and Mabie shall perxxxx dutiex ("duties") for the Company as Chief Executive Officer and President of the Company as set forth in the Company's Articles of Incorporation and Bylaws and shall report to the Company's Board of Directors (the "Board").
Term of Employment and Duties. (a) The Association hereby employs the Executive as the President and Chief Executive Officer and the Executive hereby accepts said employment and agrees to render such services to the Association on the terms and conditions set forth in this Agreement. The terms and conditions of this Agreement shall be and remain in effect during the period of three years beginning on the Effective Date of this Agreement and ending on the third anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to Section 2(b) hereof (the “Employment Period”).
Term of Employment and Duties. The Company and Lindsey agree that for xxx period commencing on August 1st, 2001 and terminating on August 1, 2002 (the "Termination Date"), the Company shall employ Lindsey and Lindsey xxxxx xerform duties ("xxxxxs") for the Company as Director and Vice-President of the Company as set forth in the Company's Articles of Incorporation and Bylaws and shall report to the Company's Board of Directors (the "Board").
Term of Employment and Duties. (a) The Association hereby employs the Executive as the Chairman of the Board of Directors of the Association Board and the Executive hereby accepts said employment and agrees to render such services to the Association on the terms and conditions set forth in this Agreement. The terms and conditions of this Agreement shall be and remain in effect during the period of three years beginning on the Effective Date of this Agreement and ending on the third anniversary of the Effective Date, plus such extensions, if any, as are provided pursuant to Section 2(b) hereof (the “Employment Period”) and subject to the Executive being nominated and re-elected to the Association Board.
Term of Employment and Duties. 1.1 The Employee shall serve as Director of the Employer, as well as Director and President of its wholly-owned subsidiary, The Bank of the Somerset Hills (the "Bank"), and Employee hereby accepts said employment and agrees to render such services to the Employer beginning May 15, 2001, on the terms and conditions set forth in this Agreement. Employee is currently a member of the Board of Directors of both the Employer and the Bank. The initial term of employment under this Agreement shall commence on March 19, 2001 (the "Commencement Date"), and shall terminate two (2) years from the Commencement Date (the "Initial Employment Period"). Unless either party gives six (6) months prior written notice of nonrenewal (a "Notice of Nonrenewal"), this Agreement shall automatically be extended for an additional one (1) year period, and, for one (1) year periods thereafter (collectively the "Renewal Period(s)"). Notices shall be sent by Certified Mail, Return Receipt Requested as follows: To the Employer Somerset Hills Bancorp 155 Morristown Road Xxxxxxxxxxxxx, XX 00000 Xttn: Board of Directors To the Employee Paul E. Fitzgerald 58 Ridgeview Drive Xxxxx Xxxx, XX 00000 Xxxxxx xxx xxxx xx this Agreement the annual compensation of Employee shall be no less than the base salary ("Base Salary") for the immediately preceding 12 months. (The Employees' Base Salary, together with any cash bonus which may be awarded to Employee, hereafter called "Total Compensation"). References herein to the term of this Agreement shall refer both to the Initial Employment Period and any Renewal Periods. If proper Notice of Nonrenewal is sent effective at the end of the Initial Term or any Renewal Period, this Agreement shall terminate at the end of the then current term without any liability of the parties hereto to the other except for performance of their respective obligations under this Agreement and other obligations owed arising out of the employment relationship which may be imposed and/or required by applicable law.
