WFBC » Topics » 2. Term of Employment.

These excerpts taken from the WFBC 8-K filed Oct 29, 2007.

2.             Term of Employment.

 

(a)           The term of this Agreement shall commence on June 25, 2007. As of such date, the Employer hereby employs the Executive as Executive Commercial Sales Manager, and the Executive hereby accepts said employment and agrees to render such services to the Employer on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate on June 30, 2009. Prior to July 1, 2009 and each July 1 thereafter, the Board of Directors of the Employer shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) a one-year extension of the term of this Agreement, and the term shall continue to extend each July 1 if the Board of Directors approves such extension unless the Executive gives written notice to the Employer of the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such July 1. If the Board of Directors of the Employer elects not to extend the term, it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such July 1. If any party gives timely notice that the term will not be extended as of any July 1, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

 

(b)           During the term of this Agreement, the Executive shall perform such executive services for the Employer as may be consistent with his titles and from time to time assigned to him by the Board of Directors of the Employer. During the term of this Agreement, the Executive shall devote his best efforts and his full time effort to the affairs and business of the Employer.

 

2.             Term of Employment.

 

(a)           The Employers hereby employ the Executive as                                                            of BeneServ, and the Executive hereby accepts said employment and agrees to render such services to the Employers on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, the initial term of this Agreement shall expire on June 30, 2008. Prior to July 1, 2008 and each July 1 thereafter, the Boards of Directors of the Employers shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) a one-year extension of the term of this Agreement, and the term shall continue to extend each July 1 if the Boards of Directors approve  such extension unless the Executive gives written notice to the Employers of the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such July 1. If the Boards of Directors of the Employers elect not to extend the term, they shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such July 1. If any party gives timely notice that the term will not be extended as of any July 1, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

 

(b)           During the term of this Agreement, the Executive shall perform such executive services for the Employers as may be consistent with his titles and from time to time assigned to him by the Boards of Directors of the Employers. During the term of this Agreement, the Executive shall devote his best efforts and his full time effort to the affairs and business of the Employers.

 

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2.             Term of Employment.

 

(a)           The Employer hereby employs the Executive as FIRST Team Leader, and the Executive hereby accepts said employment and agrees to render such services to the Employer on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate on June 30, 2008. Prior to July 1, 2008 and each July 1 thereafter, the Board of Directors of the Employer shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) a one-year extension of the term of this Agreement, and the term shall continue to extend each July 1 if the Board of Directors approves such extension unless the Executive gives written notice to the Employer of the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such July 1. If the Board of Directors of the Employer elects not to extend the term, it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such July 1. If any party gives timely notice that the term will not be extended as of any July 1, then this Agreement shall terminate at the conclusion of its remaining term. References herein to the term of this Agreement shall refer both to the initial term and successive terms.

 

(b)           During the term of this Agreement, the Executive shall perform such executive services for the Employer as may be consistent with his title and from time to time assigned to him by the Board of Directors of the Employer. During the term of this Agreement, the Executive shall devote his best efforts and his full time effort to the affairs and business of the Employer.

 

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These excerpts taken from the WFBC 8-K filed Jun 13, 2007.

2.             Term of Employment.

(a)           The term of this Agreement shall commence on June 25, 2007.  As of such date, the Employer hereby employs the Executive as Executive Commercial Sales Manager, and the Executive hereby accepts said employment and agrees to render such services to the Employer on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate on June 30, 2009. Prior to July 1, 2009 and each July 1 thereafter, the Board of Directors of the Employer shall consider and review (after taking into account all relevant factors, including the Executive’s performance hereunder) a one-year extension of the term of this Agreement, and the term shall continue to extend each July 1 if the Board of Directors approves such extension unless the Executive gives written notice to the Employer of the Executive’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such July 1.  If the Board of Directors of the Employer elects not to extend the term, it shall give written notice of such decision to the Executive not less than thirty (30) days prior to any such July 1.  If any party gives timely notice that the term will not be extended as of any July 1, then this Agreement shall terminate at the conclusion of its remaining term.  References herein to the term of this Agreement shall refer both to the initial term and successive terms.

(b)           During the term of this Agreement, the Executive shall perform such executive services for the Employer as may be consistent with his titles and from time to time assigned to him by the Board of Directors of the Employer. During the term of this Agreement, the Executive shall devote his best efforts and his full time effort to the affairs and business of the Employer.

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2.             Term of Employment.

(a)           The Employer hereby employs the Officer as Middle Market Manager, and the Officer hereby accepts said employment and agrees to render such services to the Employer on the terms and conditions set forth in this Agreement. Unless extended as provided in this Section 2, this Agreement shall terminate on June 30, 2008. Prior to July 1, 2008 and each July 1 thereafter, the Board of Directors of the Employer shall consider and review (after taking into account all relevant factors, including the Officer’s performance hereunder) a one-year extension of the term of this Agreement, and the term shall continue to extend each July 1 if the Board of Directors approves such extension unless the Officer gives written notice to the Employer of the Officer’s election not to extend the term, with such written notice to be given not less than thirty (30) days prior to any such July 1.  If the Board of Directors of the Employer elects not to extend the term, it shall give written notice of such decision to the Officer not less than thirty (30) days prior to any such July 1.  If any party gives timely notice that the term will not be extended as of any July 1, then this Agreement shall terminate at the conclusion of its remaining term.  References herein to the term of this Agreement shall refer both to the initial term and successive terms.

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(b)           During the term of this Agreement, the Officer shall perform such services for the Employer as may be consistent with his title and from time to time assigned to him by the Board of Directors of the Employer. During the term of this Agreement, the Officer shall devote his best efforts and his full time effort to the affairs and business of the Employer.

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