Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 49 contracts
Sources: Change in Control Agreement (Ottawa Bancorp Inc), Change in Control Agreement (Ottawa Bancorp Inc), Change in Control Agreement (Ottawa Bancorp Inc)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 43 contracts
Sources: Employment Agreement (PFS Bancorp, Inc.), Employment Agreement (PFS Bancorp, Inc.), Employment Agreement (PFS Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s Boards of Directors of the Bank or the Bank’s Board of Directors Company at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s Boards of Directors of the Bank or the Bank’s Board of DirectorsCompany; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholdersmembers) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or.
Appears in 25 contracts
Sources: Employment Agreement (Fox Chase Bancorp Inc), Employment Agreement (Fox Chase Bancorp Inc), Employment Agreement (Fox Chase Bancorp Inc)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the CompanyBank’s or the BankHolding Company’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the CompanyBank’s or the BankHolding Company’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholdersmembers) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 10 contracts
Sources: Change in Control Agreement (Hampden Bancorp, Inc.), Change in Control Agreement (Hampden Bancorp, Inc.), Change in Control Agreement (Hampden Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the BankAssociation’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the BankAssociation’s Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 7 contracts
Sources: Employment Agreement (Monroe Federal Bancorp, Inc.), Change in Control Agreement (Monroe Federal Bancorp, Inc.), Employment Agreement (Monroe Federal Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the CompanyEmployer’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the CompanyEmployer’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 7 contracts
Sources: Employment Agreement (First Interstate Bancsystem Inc), Employment Agreement (First Interstate Bancsystem Inc), Employment Agreement (First Interstate Bancsystem Inc)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s 's or the Bank’s 's Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s 's or the Bank’s 's Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 6 contracts
Sources: Employment Agreement (West End Indiana Bancshares, Inc.), Employment Agreement (West End Indiana Bancshares, Inc.), Employment Agreement (West End Indiana Bancshares, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 6 contracts
Sources: Employment Agreement (First Interstate Bancsystem Inc), Employment Agreement (First Interstate Bancsystem Inc), Employment Agreement (First Interstate Bancsystem Inc)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the CompanyBank’s or the BankCompany’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 5 contracts
Sources: Change in Control Agreement (New England Bancshares, Inc.), Change in Control Agreement (Liberty Bancorp Inc), Change in Control Agreement (Liberty Bancorp Inc)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the CompanyBank’s or the BankCompany’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the CompanyBank’s or the BankCompany’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 5 contracts
Sources: Change in Control Agreement (Chicopee Bancorp, Inc.), Change in Control Agreement (Chicopee Bancorp, Inc.), Change in Control Agreement (Chicopee Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board Board (or first nominated by the board Board for election by the stockholdersmembers) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 5 contracts
Sources: Two Year Employment Agreement (Standard Financial Corp.), Three Year Employment Agreement (Standard Financial Corp.), Two Year Employment Agreement (Standard Financial Corp.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii3), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 4 contracts
Sources: Employment Agreement (EWSB Bancorp, Inc. /MD/), Employment Agreement (EWSB Bancorp, Inc. /MD/), Employment Agreement (EWSB Bancorp, Inc. /MD/)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the CompanyBank’s or the BankCompany’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the CompanyBank’s or the BankCompany’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 4 contracts
Sources: Change in Control Agreement (Standard Financial Corp.), Change in Control Agreement (Standard Financial Corp.), Change in Control Agreement (Chicopee Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 4 contracts
Sources: Employment Agreement (OBA Financial Services, Inc.), Employment Agreement (Harvard Illinois Bancorp, Inc.), Employment Agreement (OmniAmerican Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the BankAssociation’s Board board of Directors directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the BankAssociation’s Board board of Directorsdirectors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board of directors for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such the period; or
Appears in 3 contracts
Sources: Employment Agreement (Eureka Homestead Bancorp, Inc.), Employment Agreement (Eureka Homestead Bancorp, Inc.), Employment Agreement (Eureka Homestead Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s Bank's or the Bank’s Holding Company's Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s Bank's or the Bank’s Holding Company's Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholdersmembers) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 3 contracts
Sources: Change in Control Agreement (Hampden Bancorp, Inc.), Employment Agreement (Hampden Bancorp, Inc.), Employment Agreement (Hampden Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board board of Directors directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board board of Directorsdirectors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board of directors for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such the period; or
Appears in 3 contracts
Sources: Employment Agreement (First Seacoast Bancorp, Inc.), Employment Agreement (First Seacoast Bancorp), Employment Agreement (First Seacoast Bancorp)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii3), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; oror (4)
Appears in 2 contracts
Sources: Change in Control Agreement (Pathfinder Bancorp, Inc.), Change in Control Agreement (Kearny Financial Corp.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-two- thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 2 contracts
Sources: Employment Agreement (1895 Bancorp of Wisconsin, Inc. /MD/), Employment Agreement (1895 Bancorp of Wisconsin, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; oror (4)
Appears in 2 contracts
Sources: Employment Agreement (1895 Bancorp of Wisconsin, Inc. /MD/), Employment Agreement (1895 Bancorp of Wisconsin, Inc. /MD/)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3⅔) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 2 contracts
Sources: Salary Continuation Agreement (Delhi Bank Corp), Salary Continuation Agreement (Delhi Bank Corp)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the BankAssociation’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the BankAssociation’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholdersstockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 2 contracts
Sources: Employment Agreement (St. Joseph Bancorp, Inc.), Employment Agreement (St. Joseph Bancorp, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (( 2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 1 contract
Sources: Change in Control Agreement (Hometown Bancorp,Inc.)
Change in Board Composition. During any period of two twelve consecutive yearsmonths, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the twotwelve-year month period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board Board of Directors (or first nominated by the board Board of Directors for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the twotwelve-year month period shall be deemed to have also been a director at the beginning of such period; or
Appears in 1 contract
Sources: Change in Control Severance Agreement (Coastal Financial Corp)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s 's or the Bank’s 's Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s 's or the Bank’s 's Board of Directors; provided, however, that for purposes of this clause (iiic), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 1 contract
Sources: Change in Control Agreement (Poage Bankshares, Inc.)
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii)., each director who is first elected by the board (or US2008 7473109 3 first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 1 contract
Change in Board Composition. During any period of two consecutive years, . individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; : provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 1 contract
Change in Board Composition. During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board board of Directors directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s or the Bank’s Board board of Directorsdirectors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or
Appears in 1 contract