Change in Control Compensation. Subject to the provisions of this Agreement, including without limitation Section 6(g), Employee shall be entitled to the compensation provided in the Severance Compensation Agreement pursuant to the terms stated in such agreement; provided, however, that any compensation payable under the Severance Compensation Agreement shall be reduced dollar for dollar by the amount of any Transition Bonus paid prior to the date of any payment under the Severance Compensation Agreement.
Change in Control Compensation. In the event that (i) a Change in Control occurs during the Term and (ii) Executive’s employment with NMHC terminates at any time within two (2) years following the occurrence of the Change in Control pursuant to a Permitted Termination Event, then in lieu of any Severance Compensation then owed or that otherwise may be owed in the future to Executive under this Agreement, NMHC shall pay Executive both (A) the Accrued Obligations within three (3) business days after the termination of Executive’s employment and (B) subject to Section 2.2.8, the Change in Control Compensation within three (3) business days after all revocation and waiting periods applicable to the Release have expired. In the interest of clarity, NMHC and Executive agree that, following the occurrence of a Change in Control and a payment of the Change in Control Compensation to Executive, the provisions of this Agreement requiring payment of Severance Compensation to Executive shall automatically be deemed null and void and shall not apply with respect to any termination of Executive’s employment (whether such termination is effected in connection with the Change in Control or at any time in the future following the Change in Control), and under no circumstances shall NMHC ever be obligated to pay Executive both Change in Control Compensation and Severance Compensation.
Change in Control Compensation. 3.1 If Executive shall be entitled to receive compensation under this Agreement by virtue of the termination of the Executive's employment during the Period, then the Company shall pay to the Executive in a single lump sum payment within 30 days of the Executive's termination of employment the amounts set forth below, provided that an amount need not be paid to the Executive in a single lump sum payment if one of the following subparagraphs otherwise expressly provides:
Change in Control Compensation. In the event of a voluntary Termination of Employment by Employee following a Change in Control after which within two years Employee experiences a material diminution in Employee’s base compensation, or in Employee’s authority, duties, or responsibilities, and Bank does not remedy the condition after receiving notice from Employee as set forth in the Section titled “Termination of Employment,” Employee shall receive the following “
Change in Control Compensation. In the event (a) a Change of Control has occurred, Good Reason exists and Employee gives written notice to the Bank within one-hundred eighty (180) days after the occurrence of such Good Reason that Employee is terminating her employment with the Bank for Good Reason, and provided the Employee has delivered to Bank a Waiver and Release Agreement (attached as exhibit "B" hereto), Employee shall be entitled to a severance payment equal to twelve (12) months pay in an amount equal to her gross compensation, inclusive bonus and commissions, for the prior twelve (12) months and such other sums as are provided for under Section E.5. The Severance Payment will be paid not more than ten (10) days after the later of the termination of Employee's employment in accordance with this paragraph 6 and the date Bank receives the Waiver and Release Agreement. Each Change of Control shall give Employee a separate right to give the notice set forth in the first sentence of this paragraph 6.
Change in Control Compensation. Employee shall be entitled to the compensation provided in the Severance Compensation Agreement pursuant to the terms stated in such agreement.
Change in Control Compensation. (a) Subject to the conditions of Section 2.1(b) and Section 3, in the event Employee’s employment is terminated in a Termination Upon a Change in Control (as defined below), provided that such termination constitutes a Separation from Service as defined in Section 3.1, Employee shall be paid the sum of the following amounts (the “Change in Control Compensation”):
Change in Control Compensation. The Company acknowledges that Executive was entitled to receive cash compensation of $400,000 under the CIC Agreement as a result of the change in control of the Company that occurred in August 2022 (the “Prior CIC Compensation”), which Executive has agreed to waive in connection with the execution of this Agreement. Upon execution of this Agreement, Executive shall be entitled to receive a cash bonus payment of $400,000 (the “CIC Bonus”), which will be paid as follows:
Change in Control Compensation. Employee shall be entitled to compensation if (i) there is a Change in Control of the Employer while Employee is still an employee of Employer and (ii) Employee's employment with Employer is terminated by Employer or by Employee for Good Reason within two years after the Change in Control as a direct or indirect result of the Change in Control, but not as a result of (A) Employee's death or disability, (B) Employee's Retirement, (C) Employee's termination for Cause by Employer, or (D) Employee's decision to terminate employment other than for Good Reason ("Change in Control Compensation"). "Change in Control" is defined in Exhibit E ("Definitions"). The Change in Control Compensation to be paid to Employee in the event of a Change in Control will be equal to one times the Base Salary set forth in Section 4 above. The Change in Control Compensation will be paid within five (5) business days of the Change in Control.
Change in Control Compensation. In the event that (i) a Change in Control occurs during the Term and (ii) Executive’s employment with NMHC does not terminate at any time during the six (6) months following the occurrence of a Change in Control (such six (6) month period, the “Transition Period”) other than pursuant to a Permitted Termination Event, then in lieu of any Severance Compensation then owed or that otherwise may be owed in the future to Executive under this Agreement, NMHC shall pay Executive the Change in Control Compensation within three (3) business days after the earlier to occur of (i) the conclusion of the Transition Period or (ii) the date of the Permitted Termination Event (together with payment of the Accrued Obligations, if Executive’s employment has terminated). In the interest of clarity, in the event that Executive’s employment with NMHC has not terminated during the Transition Period, Executive need not resign or be terminated to receive the Change in Control Compensation. In the event that Executive’s employment with NMHC terminates prior to the conclusion of the Transition Period for any reason other than a Permitted Termination Event, then Executive shall not be entitled to any Change in Control Compensation. In the further interest of clarity, NMHC and Executive agree that, following the occurrence of a Change in Control and a payment of the Change in Control Compensation to Executive, the provisions of this Agreement requiring payment of Severance Compensation to Executive shall automatically be deemed null and void and shall not apply with respect to any termination of Executive’s employment (whether such termination is effected in connection with the Change in Control or at any time in the future following the Change in Control), and under no circumstances shall NMHC ever be obligated to pay Executive both Change in Control Compensation and Severance Compensation.
