Example ContractsClauseseffective date; termVariants
Effective Date; Term
Effective Date; Term contract clause examples

Effective Date; Term. Upon the terms and subject to the conditions set forth in this Agreement, the Bank hereby employs Executive, and Executive hereby accepts such employment, for the term commencing on the Effective Date and, unless otherwise earlier terminated pursuant to Section 5 hereof, ending at 11:59 p.m. Central Time on the fifth anniversary of the Effective Date (the “Term”). Upon expiration of the Term, this Agreement shall terminate, unless extended or renewed by the parties in writing, and Executive’s employment shall continue on an “at will” basis.

Term. The initial term of employment shall be a period of three years, commencing on the Effective Date and expiring on the close of business at the end of three (3) years from the Effective Date, subject to earlier termination or extension as provided herein (“Term”). On the first anniversary of the Effective Date and on each anniversary thereafter, the Executive's employment shall be extended automatically for one additional year unless the Bank's Board of Directors or the Executive determine that the Term shall not be extended. If the Board of Directors or the Executive determine not to extend the Term, such party shall notify the other party in writing at least 90 days prior to the anniversary of the Effective Date. If the Bank’s Board of Directors or the Executive decides not to extend the term of employment, this Agreement shall nevertheless remain in force until the employment Term expires. The Board's decision not

Term. The initial term of employment shall be a period of three years, commencing on the Effective Date and expiring on the close of business at the end of three (3) years from the Effective Date, subject to earlier termination or extension as provided herein (“Term”). On the first anniversary of the Effective Date and on each anniversary thereafter, the Executive's employment shall be extended automatically for one additional year unless the Bank's Board of Directors or the Executive determine that the Term shall not be extended. If the Board of Directors or the Executive determine not to extend the Term, such party shall notify the other party in writing at least 90 days prior to the anniversary of the Effective Date. If the Bank’s Board of Directors or the Executive decides not to extend the term of employment, this Agreement shall nevertheless remain in force until the then employment term expires. The Board's decision not to extend the term of employment shall not by itself give the Executive any rights under this Agreement to claim an adverse change in position, compensation, or circumstances or otherwise to claim any entitlement to severance benefits under Article 4 of this Agreement.

Term. For purposes of this Agreement, the “Effective Date” shall be July 1, 2020, or such other date as the parties may agree. The initial term of this Agreement shall begin on the Effective Date, and shall continue for twenty-four (24) months; provided, however, that beginning on the first anniversary of the Effective Date, and on each anniversary of the Effective Date thereafter, the term of this Agreement shall be extended by twelve (12) months, unless the disinterested members of the boards of directors of the Employer (the “Bank Board” and “Bancorp Board”, respectively) or the Executive shall have provided notice to the other party at least sixty (60) days before such date that the term shall not be extended. The period during which the Executive is employed by the [[Bank:Organization]] Entities pursuant to this Agreement, including all extensions thereof, is hereinafter referred to as the “Term.” Notwithstanding the preceding provisions of this Section, if a Change of Control occurs during the Term, the Term shall not end before the first anniversary of the Change of Control; provided, however, this sentence shall apply only to the first Change of Control to occur while this Agreement is in effect. The Chief Executive Officer of the Bank (“CEO”), in consultation with the Personnel Committee of the Bank Board, shall conduct a comprehensive performance evaluation and review of the Executive annually.

Term. The Executive’s employment with the Bank under this Agreement shall commence on March 10, 2021 (the “Effective Date”) and shall continue until the date that is three (3) years from the Effective Date (the “Initial Term”). Upon the expiration of the Initial Term, this Agreement shall automatically be extended on the same terms and conditions set forth herein for a one (1) year period (each a “Renewal Term”) (the Initial Term and the Renewal Terms, if any, collectively referred to herein as the “Term”), unless either party provides the other party not less than sixty (60) days’ prior notice in writing of such party’s election not to extend the Agreement for a Renewal Term. If either party provides such notice of non-renewal, this Agreement shall terminate upon the expiration of the Initial Term or the Renewal Term, as applicable. Either party may terminate this Agreement at any time, subject [[Organization A:Organization]] terms of this Agreement.

Term. Unless earlier terminated in accordance with Section 3, the term of this Agreement and Executive’s employment hereunder (the “Term”) will be for an initial period beginning on the Effective Date and ending on the third (3rd) anniversary of the Effective Date; provided that on the third (3rd) anniversary of the Effective Date and on each anniversary of such date thereafter (such date and each annual anniversary thereof a “Renewal Date”), the Term will automatically extend for an additional one year from such Renewal Date unless, at least 90 days before the applicable Renewal Date, either party gives notice to the other that the Term will not be so extended. Upon termination of this Agreement and Executive’s employment hereunder for any reason, Executive will be deemed to have resigned from all positions that Executive holds as an officer or member of the board of directors of any member of the [[Bank:Organization]] Group.

The Executive, the Company and the Bank acknowledge that, except as may otherwise be provided under any other written agreement between the Executive, the Company and/or the Bank, the employment of the Executive by the Company or the Bank (as applicable) is “at will” and, subject to Section 1(a), the Executive’s employment may be terminated by the Executive, the Company or the Bank (as applicable) at any time prior to the Effective Date, in which case the Executive shall have no further rights under this Agreement. From and after the Effective Date, except as specifically provided herein, this Agreement shall supersede any other agreement between the parties with respect to the subject matter hereof.

Term. Unless earlier terminated in accordance with Section 3, the term of this Agreement and Executive’s employment hereunder (the “Term”) will be for an initial period beginning on the Effective Date and ending on the third anniversary of the Effective Date; provided that on the third anniversary of the Effective Date and on each anniversary of such date thereafter (such date and each annual anniversary thereof a “Renewal Date”), the Term will automatically extend so as to terminate one year from such Renewal Date unless, at least 90 days before the applicable Renewal Date, either party gives notice to the other that the Term will not be so extended. Upon termination of this Agreement and Executive’s employment hereunder for any reason, Executive will be deemed to have resigned from all positions that Executive holds as an officer or member of the board of directors of any member of the [[Bank:Organization]] Group.

Term. Unless earlier terminated in accordance with Section 3, the term of this Agreement and Executive’s employment hereunder (the “Term”) will be for an initial period beginning on the Effective Date and ending on the third (3rd) anniversary of the Effective Date; provided that on the third (3rd) anniversary of the Effective Date and on each anniversary of such date thereafter (such date and each annual anniversary thereof a “Renewal Date”), the Term will automatically extend for a period of three years from such Renewal Date unless, at least 90 days before the applicable Renewal Date, either party gives notice to the other that the Term will not be so extended. Upon termination of this Agreement and Executive’s employment hereunder for any reason, Executive will be deemed to have resigned from all positions that Executive holds as an officer or member of the board of directors of any member of the [[Bank:Organization]] Group.

Section # Employment Period. The Company and/or the Bank (as applicable) hereby agrees to continue the Executive in its employ, subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the third anniversary of the Effective Date (the “Employment Period”). The Employment Period shall terminate upon the Executive’s termination of employment for any reason.

Effective Date: Term. This Agreement shall be effective as of December 23, 2021 (the “Effective Date”) and shall continue in effect until termination of the Executive’s employment as described herein, unless terminated earlier by mutual agreement of the Executive and the Company. The period commencing on the Effective Date and ending on the date on which the term of this Agreement terminates is referred to herein as the “Term.”

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