Common use of Event of Termination Without Cause Clause in Contracts

Event of Termination Without Cause. Upon the occurrence of an Event of Termination other than for "Cause" as hereinabove defined, BANK shall pay the Executive on a biweekly basis, while living, during the lessor period of obtaining employment or the Employment Agreement, the Executive's current salary, medical benefits and the use of a company automobile. BANK shall also pay any earned bonuses, as well as any expense reimbursements due to the Executive. Payments shall commence on the pay cycle immediately following said occurrence, which said occurrence shall be viewed as a determination by BANK not to extend the agreement beyond the Term of Employment as set forth in section I, paragraph B. Executive must be provided written notice at least 60 days prior to termination as set forth herein.

Event of Termination Without Cause. Upon the occurrence of an Event of Termination other than for "Cause" as hereinabove defined, BANK the Company shall pay the Executive on a biweekly basis, while living, during the lessor period of obtaining employment or the Employment Agreement, the Executive's current salary, medical benefits and the use of a company automobile. BANK The Company shall also pay any earned bonuses, as well as any expense reimbursements due to the Executive. Payments shall commence on the pay cycle immediately following said occurrence, which said occurrence shall be viewed as a determination by BANK the Company not to extend the agreement beyond the Term of Employment as set forth in section I, paragraph B. 6. Executive must be provided written notice at least 60 days prior to termination as set forth herein.