BENEFITS IN THE EVENT Sample Clauses
BENEFITS IN THE EVENT. OF A TERMINATION WITHOUT CAUSE OR A TERMINATION FOR GOOD REASON. In the event of a Termination Without Cause or a Termination for Good Reason the Executive shall be entitled to the following: If a Termination Without Cause or a Termination for Good Reason occurs at any time other than during the CIC Coverage Period, the Company shall be obligated to make an undiscounted lump sum payment to the Executive equal to the Executive's Annual Base Salary as in effect on the effective date of such termination (without giving effect to any reduction in Annual Base Salary described in Section 6(c)(i) hereof), such payment to be made within ten (10) business days of the effective date of such Termination Without Cause or Termination for Good Reason, as the case may be. If a Termination Without Cause or a Termination for Good Reason occurs during the CIC Coverage Period, the Executive shall be entitled to an undiscounted lump sum payment equal to the product of (A) the Executive's Annual Base Salary as in effect on the effective date of such termination (without giving effect to any reduction in Annual Base Salary described in Section 6(c)(i) hereof) and (B) two (2) years.
BENEFITS IN THE EVENT. OF A TERMINATION WITHOUT CAUSE OR A TERMINATION FOR GOOD REASON. In the event of a Termination Without Cause or a Termination for Good Reason the Executive shall be entitled to the following:
(i) If a Termination Without Cause or a Termination for Good Reason occurs at any time other than during the CIC Coverage Period, the Company shall be obligated to make an undiscounted lump sum payment to the Executive equal to the Executive's Annual Base Salary as in effect on the effective date of such termination (without giving effect to any reduction in Annual Base Salary described in Section 6(c)(i) hereof), such payment to be made within ten (10) business days of the effective date of such Termination Without Cause or Termination for Good Reason, as the case may be.
(ii) If a Termination Without Cause or a Termination for Good Reason occurs during the CIC Coverage Period, the Executive shall be entitled to an undiscounted lump sum payment equal to the product of (A) the Executive's Annual Base Salary as in effect on the effective date of such termination (without giving effect to any reduction in Annual Base Salary described in Section 6(c)(i) hereof) and (B) three (3).
BENEFITS IN THE EVENT of a Change in Control. In the event of a voluntary or involuntary termination of employment within three (3) years following a Change in Control of the Holding Company or the Bank, other than due to the Executive's death, the Executive shall be entitled to a benefit under this Section 2.4, in lieu of any other benefit to which he might be entitled hereunder. Commencing within thirty (30) days of the Executive's attainment of his Retirement Age, the Executive shall receive an annual benefit of Twenty-Five Thousand Dollars ($25,000) payable monthly, for a period of One Hundred Twenty (120) Months. In the event the Executive dies before all benefits are paid under this Section 2.4, the Executive's Beneficiary shall be paid all remaining installments due and owing hereunder.