Termination of Payments. In the event the Board of Directors by such a Resolution terminates further payments to the Executive as provided in this Article 3, all amounts then remaining unpaid under this Agreement shall be forfeited and the Corporation shall have no further liability to the Executive or any other persons hereunder.
Appears in 5 contracts
Sources: Executive Salary Continuation Agreement (United Community Bancshares Inc), Executive Salary Continuation Agreement (United Community Bancshares Inc), Executive Salary Continuation Agreement (United Community Bancshares Inc)
Termination of Payments. In the event the Board of Directors of the ------------------------ Corporation, by such a Resolution Resolution, terminates further payments to the Executive as provided in this Article 3, all amounts then remaining unpaid under this Agreement shall be forfeited fortified and the Corporation shall have no further liability to the Executive or any other persons hereunder.
Appears in 1 contract
Termination of Payments. In the event the Board of Directors by such a Resolution terminates further payments to the Executive as provided in this Article 3, all amounts then remaining unpaid under this Agreement shall be forfeited and the Corporation shall have no further liability to the Executive or any other persons hereunder.
Appears in 1 contract
Sources: Executive Salary Continuation Agreement (Pacific Community Banking Group)