Common use of Term and Extension Clause in Contracts

Term and Extension. The term of this Agreement shall be the period commencing on the date on which ViewPoint Bank ("Bank") converts to stock form as the subsidiary of Company (the "Commencement Date") and ending on December 31, 2009, subject to earlier termination as provided herein. Beginning on January 1, 2007, and on each January 1 thereafter during the term, the term shall be extended by one additional year such that the term as so extended shall be a period of three years, provided that (1) Company has not given notice to Executive in writing at least 90 days prior to such January 1 that the term of this Agreement shall not be extended further; and (2) at least 90 days prior to such January 1, the Board of Directors of Company explicitly reviews and approves the extension based upon a performance review in which the Board has determined that Executive's performance has been satisfactory or better.

Term and Extension. The term of this Agreement shall be the period commencing on the date (the “Commencement Date”) on which ViewPoint Bank ("Bank") converts to stock form as the subsidiary of Company ViewPoint Financial Group (the "Commencement Date") “Company”), and ending on December 31, 20092011, subject to earlier termination as provided herein. Beginning on January 1, 20072010, and on each January 1 thereafter during the term, the term shall be extended by one additional year such that the term as so extended shall be a period of three years, provided that (1) Company Bank has not given notice to Executive in writing at least 90 days prior to such January 1 that the term of this Agreement shall not be extended further; and (2) at least 90 days prior to such January 1, the Board of Directors of Company Bank explicitly reviews and approves the extension based upon a performance review as described in Section 9 of this Agreement in which the Board has determined that Executive's ’s performance has been satisfactory or better.”

Term and Extension. The term of this Agreement shall be the period commencing on the date on which ViewPoint Bank ("“Bank"”) converts to stock form as the subsidiary of Company (the "“Commencement Date"”) and ending on December 31, 20092011, subject to earlier termination as provided herein. Beginning on January 1, 20072010, and on each January 1 thereafter during the term, the term shall be extended by one additional year such that the term as so extended shall be a period of three years, provided that (1) Company has not given notice to Executive in writing at least 90 days prior to such January 1 that the term of this Agreement shall not be extended further; and (2) at least 90 days prior to such January 1, the Board of Directors of Company explicitly reviews and approves the extension based upon a performance review in which the Board has determined that Executive's ’s performance has been satisfactory or better.”