Consulting Status. Upon the Effective Date of Resignation, provided the Company has not previously terminated Xx. Xxxxxx’x employment for gross negligence or willful misconduct and Xx. Xxxxxx has not terminated his employment relationship with the Company prior to October 2, 2008, Xx. Xxxxxx will resign all titles and postings he then holds with the Company and he shall become a consultant for the Company commencing on that date and continuing until the earlier of nine months from the Effective Date of Resignation or July 2, 2009 (the “Consulting Period”). During this Consulting Period, Xx. Xxxxxx will provide up to five (5) hours per month of consulting services via telephone conference with the Company’s Chief Executive Officer, Chief Financial Officer or Vice President of Finance or other Company designee. Xx. Xxxxxx will not be eligible for additional compensation for such consulting beyond those payments specified in this Transition Agreement.
Consulting Status. Subject to Sections 6(c) and (d) of this Agreement, at the end of the Employment Term, Employee shall relinquish his responsibilities as President of Employer and shall become an independent consultant to Employer. As an independent consultant, Employee shall render services as an independent contractor (and not as an employee) in the nature of customer and community relations, business development, employee relations and general advice and assistance relating to Employer’s customers and employees and to the growth and development in Virginia and elsewhere of the business of Employer. Such services shall be rendered at such times, in such amounts, in such manner, in such places and on such schedule as shall be determined by Employee at his sole discretion so long as it results in no unusual expense to Employer, and Employee shall attempt for his consulting activities to be performed in a manner and at times and places convenient to the Employer. Employee shall not be required to maintain records of hours worked or to work in accordance with any fixed schedule during the period that he renders consulting services. Employee shall be allowed to obtain any other employment and engage in any type of activity as long as it does not violate Section 4(a) (as interpreted in this Section 8 with reference to the Consulting Period and not the post-employment termination period referenced in Section 4(a)) and in the event of any scheduling conflict between Employer’s request for consulting and Employee’s other activities, Employee shall have the sole discretion to determine which activities to undertake without such decision constituting a violation of his consulting obligations or his right to the Consulting Compensation. During such period, the following provisions shall be applicable:
Consulting Status. Upon the Effective Date of Resignation, Xx. Xxxxxxxx will resign all titles and postings he then holds with the Company and he shall become a consultant for the Company commencing on that date and continuing until January 1, 2007 (the "Consulting Period"). During this Consulting Period, Xx. Xxxxxxxx will provide up to five (5) hours per month of consulting services via telephone conference with the Company's Chief Executive Officer, Chief Financial Officer or Vice President of Finance. Xx. Xxxxxxxx will not be eligible for additional compensation for such consulting beyond those payments specified in this Transition Agreement.
Consulting Status. Upon cessation of his employment with Company, Sharp will become a consultant to the Company. Sharp’s status shall be as an independent contractor, and the Company shall have no authority to supervise the time, manner or place of Sharp’s performance of services as a consultant. Sharp may perform work for other individuals and entities, provided that such work does not interfere with the services he provides to the Company and does not violate any provision of Article 4 below.
Consulting Status. Upon the cessation of her employment with the Company, XxXxxxx will become a consultant to the Company. XxXxxxx’ status shall be as an independent contractor and the Company shall have no authority to supervise the time, manner or place of XxXxxxx’ performance of services as a consultant. XxXxxxx may perform work for other individuals and entities, provided that such work does not interfere with the services she provides to the Company.
Consulting Status. Upon the cessation of his employment with Company, Xxxxx, in his sole discretion, may become a consultant to the Company. Glenn’s status shall be as an independent contractor, and the Company shall have no authority to supervise the time, manner or place of Glenn’s performance of services as a consultant. Xxxxx may perform work for other individuals and entities, provided that such work does not interfere with the services he provides to the Company and does not violate any provision of Article 4 below.
Consulting Status. Notwithstanding any other provisions of this Agreement, at any time on or after the first anniversary of the Effective Date, Employee shall have the option upon sixty days’ notice to Employer to end the Employment Term by relinquishing his responsibilities and executive titles herein and becoming an independent consultant to Employer. As an independent consultant, Employee shall render services as an independent contractor (and not as an employee) in the nature of customer and community relations, business development, employee relations and general advice and assistance relating to Employer’s customers and employees and to the growth and development in the Northern Virginia area of the business of Employer. Such services shall be rendered at such times and on such schedule as shall be determined by Employee, and as shall be reasonably convenient to both Employer and Employee. Employee shall not be required to maintain records of hours worked or to work in accordance with any fixed schedule during the period that he renders consulting services. During such period, the following provisions shall be applicable: The period that Employee renders the consulting services hereunder (the “Consulting Period”) shall commence on the day following the end of the Employment Term and shall terminate at the close of business on the day preceding the 5th anniversary of the Effective Date. Employee acknowledges that the amounts payable to him during the Consulting Period are in substantial part (and are in addition to the amounts payable in Section 3(f)) in exchange for the covenant not to engage in a Competitive Business set forth in Section 4, and the covenants set forth in Sections 7, 8, 9 and 10, and consequently Employee agrees that the provisions of Sections 4, 7, 8, 9 and 10 (herein, the “Employee Covenants”) shall apply with respect to him during the Consulting Period. In applying Section 4 during the Consulting Period, the period provided in Section 4(b), (c) or (d) shall be interpreted with reference to termination of the Consulting Period rather than termination of employment, and the reference to Termination Compensation in Section 4(d) shall be deemed to mean the payments described in Section 11(c). In addition, the provisions of Section 4(e) and Section 4(f) shall continue to be applicable during the Consulting Period (for this purpose, references in Section 4(e) to the Employment Term shall be deemed to mean the Consulting Period, and Section 4(f) shall be i...
Consulting Status. At the end of the Retention Period, you shall relinquish your responsibilities as an employee and officer of the Bank and you (or a company to be named by you in which you will be the sole person providing services) shall become an independent consultant to the Bank during the Consulting Period. All references in this Agreement to “you” applicable to the Consulting Period shall include the to-be-named corporate entity. As an independent consultant, during the Consulting Period you will provide consulting services to the Bank as an independent contractor (and not as an employee) in the nature of (i) facilitating and assisting with the integration and transition process following the Merger and the Subsidiary Bank Merger, with particular emphasis on the accounting and auditing functions of the Bank and AMNB; (ii) assisting with the continued development of the accounting and auditing functions of the Bank and AMNB; and (iii) assisting with customer and employee retention, recruitment and development. Such services shall be rendered at such times and on such schedule as shall be determined by you, and as shall be reasonably convenient to both the Bank and you. You shall not be required to maintain records of hours worked or to work in accordance with any fixed schedule during the period that you render consulting services. During the Consulting Period, the following provisions shall be applicable:
Consulting Status
