This Agreement shall take effect on the Effective Date and shall continue in effect until the second anniversary of the Effective Date. On the first anniversary of the Effective Date and on each annual anniversary thereafter (each an “Anniversary Date”) this Agreement shall automatically renew for an additional year, such that this Agreement shall terminate twenty-four (24) months thereafter (each renewal term shall constitute a “Term”) unless at least (30) days prior to such Anniversary Date the Boards of Directors of the Company and the Bank issue a non-renewal notice to the Executive that this Agreement shall expire at the end of the Term. Notwithstanding the foregoing, in the event that the Company enters into an agreement to effect a transaction which would be considered a Change in Control hereunder, this Agreement shall continue and shall terminate on the second annual Anniversary Date following the effective date of the Change in Control, unless earlier terminated in accordance with the next sentence. Notwithstanding anything to the contrary herein, this Agreement shall also terminate upon the earliest of (a) the termination by the Employers of the employment of the Executive for Cause or the failure by the Executive to perform the Executive’s full-time duties with the Employers by reason of the Executive’s death or Disability, (b) the resignation or termination of the Executive’s employment for any reason prior to a Change in Control, or (c) the termination of the Executive’s employment with the Employers after a Change in Control for any reason other than the occurrence of a Terminating Event. In the event of the termination of this Agreement prior to the completion by the Employers of all payments due to the Executive hereunder, the Employers shall continue such payments to the Executive until paid in full.