Common use of Payment of his Accrued Benefits Clause in Contracts

Payment of his Accrued Benefits. 8.3.2. Lump sum payment equal to one (1) times the Executive’s Base Compensation as of the effective date of the Executive’s termination of employment, with such payment to be made at the time specified in Section 8.6; and

Appears in 3 contracts

Samples: Employment Agreement (Bar Harbor Bankshares), Agreement and Plan of Merger (Lake Sunapee Bank Group), Employment Agreement (Bar Harbor Bankshares)

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Payment of his Accrued Benefits. 8.3.2. Lump sum payment equal to one (1) times the Executive’s Base Compensation (as of the effective date of the Executive’s termination of employment) that would have been paid to the Executive during the remaining unexpired Term (as extended from time to time, year-to-year, in accordance with the terms hereof), with such payment to be made at on the time specified in Section 8.6; andfifth (5th) business day following the Executive’s termination of employment without discounting for early payment;

Appears in 1 contract

Samples: Employment Agreement (Bar Harbor Bankshares)

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Payment of his Accrued Benefits. 8.3.2. Lump sum payment equal to one two (12) times the Executive’s Base Compensation as of the effective date of the Executive’s termination of employment, with such payment to be made at on the time specified fifth (5th) business day following the Executive’s termination of employment; provided, however, that this amount shall be reduced to a one (1) times multiplier in Section 8.6the event of non-renewal of the Agreement; and

Appears in 1 contract

Samples: Employment Agreement (Bar Harbor Bankshares)

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