Change in Control Termination Event Sample Clauses
A Change in Control Termination Event clause allows a party to terminate an agreement if there is a significant change in the ownership or control of the other party, such as through a merger, acquisition, or sale of a controlling interest. Typically, this clause outlines what constitutes a change in control and the process for providing notice and exercising the right to terminate. Its core function is to protect parties from being bound to contractual relationships with new or unknown owners, thereby managing risk and ensuring that both parties retain control over who they do business with.
Change in Control Termination Event. Upon the Participant’s termination of employment without Cause (as defined in the Participant’s employment agreement) or resignation for Good Reason (as defined in the Participant’s employment agreement) on or within two years after a Change in Control Event as defined in Section 7.3 of the Plan (and notwithstanding any provision of Sections 7.2 and 7.3 of the Plan or the Participant’s employment agreement to the contrary), the Award (to the extent outstanding at the time of such termination event) shall become fully vested as of the date of such termination event and shall be paid in accordance with Section 7 hereof.
Change in Control Termination Event. Upon a Change in Control Termination Event, the Option shall continue to be exercisable until the Expiration Date, subject to paragraph 4(f) hereof.
Change in Control Termination Event. The termination benefits of Section 4 shall be payable in the event that four (4) months prior to, in connection with, or within eighteen (18) months after a Change in Control: (i) the Bank, or a successor or assignee of the Bank, involuntarily terminates Executive’s full-time employment, other than for Cause as defined in Section 3(d) hereof, or (ii) Executive resigns for Good Reason as defined in Section 3(c) hereof. A termination described in (i) or (ii) above shall be referred to as a “Change in Control Termination Event.”
Change in Control Termination Event. For purposes of this Agreement a “Change in Control” means (1) a merger or consolidation in which Eagle Bancorp is not the consolidated or surviving entity, (2) transfer of all or substantially all of the assets of Eagle Bancorp, or (3) voluntary or involuntary dissolution of Eagle Bancorp. Eagle Bancorp will take all actions necessary to ensure that the surviving or consolidated entity or transferee of Eagle Bancorp’s assets is bound by and has the benefit of the provisions of this Agreement.