Common use of Severance Compensation With Termination Clause in Contracts

Severance Compensation With Termination. Subject to the provisions --------------------------------------- of Section 6.6, in the event of Executive's Termination following a Change of Control or in the event that Executive is terminated under Section 5.4 within the six-month period immediately preceding a Change of Control (in which case any payments made pursuant to Section 5.4 shall reduce the amount due under this Section), the Company shall pay to Executive, within fifteen days after the Termination Date (or as soon as possible thereafter in the event that the procedures set forth in

Appears in 1 contract

Sources: Employment Agreement (Harris Financial Inc)

Severance Compensation With Termination. Subject to the provisions --------------------------------------- of Section 6.6, in In the event of Executive's Termination following a Change of Control or in the event that Executive is terminated under Section 5.4 within the six-month period immediately preceding a Change of Control (in which either case any payments made pursuant to Section 5.4 shall reduce the amount due under this SectionSection and vise versa so that the total payment shall be the greater of either but not both), the Company shall pay to Executive, within fifteen days after the Termination Date (or as soon as possible thereafter Date, an amount in the event that the procedures set forth incash equal to 2.99 times Executive's Base Compensation.

Appears in 1 contract

Sources: Employment Agreement (Waypoint Financial Corp)