Common use of Termination after Change in Control Benefit Clause in Contracts

Termination after Change in Control Benefit. If within four (4) months before or twenty four (24) months and one (1) day after a Change of Control of the Company as defined in Section 12.01(a), the Company shall terminate the Executive’s employment other than pursuant to Section 8.01(a), (b) or (c) hereof, or give notice under Section 1.02 of its intent not to renew without Cause, or if the Executive shall terminate his employment for Good Reason, then in any of such events, the Company shall pay to the Executive a benefit as defined in subsection 12.01(b).

Appears in 4 contracts

Samples: Employment Agreement (Tower Financial Corp), Employment Agreement (Tower Financial Corp), Employment Agreement (Tower Financial Corp)

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Termination after Change in Control Benefit. If within four (4) 12 months before after, or twenty four (24) 2 months and one (1) day after prior to, a Change of in Control of the Company as defined in Section 12.01(a6(a), the Company shall terminate terminates the Executive’s Employee's employment for reasons other than pursuant to Section 8.01(a), (b) or (c) hereof, or give notice those under Section 1.02 of its intent not to renew without Cause5(b) herein, or if the Executive Employee shall terminate his employment for Good Reason, then in any of such events, the Company shall pay to the Executive Employee a benefit as defined in subsection 12.01(bSection 6(b).

Appears in 1 contract

Samples: Employment Agreement (West Bancorporation Inc)

Termination after Change in Control Benefit. If within four eighteen (418) months before after, or twenty four six (246) months and one (1) day after prior to, a Change of in Control of the Company as defined in Section 12.01(aSECTION 6(a), the Company shall terminate the Executive’s terminates Employee's employment for reasons other than pursuant to Section 8.01(a), (bthose under SECTION 5(a) or (c) hereofherein, or give notice under Section 1.02 of its intent not Employee voluntarily resigns following a demotion in position, a reduction in title, and/or a significant reduction in the duties which he is to renew without Cause, or if the Executive shall terminate his employment perform for Good ReasonCompany, then in any of such events, the Company shall pay to the Executive Employee a benefit as defined in subsection 12.01(bSECTION 6(b).

Appears in 1 contract

Samples: Employment Agreement (Greene County Bancshares Inc)

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Termination after Change in Control Benefit. If within four (4) months before or twenty four (24) months and one (1) day after a Change of Control of the Company as defined in Section 12.01(a), the Company shall terminate the Executive’s employment other than pursuant to Section 8.01(a), (b) or (c) hereof, or give notice under Section 1.02 of its intent not to renew without Cause, or if the Executive shall terminate his employment for Good ReasonCause, then in any of such events, the Company shall pay to the Executive a benefit as defined in subsection 12.01(b).

Appears in 1 contract

Samples: Employment Agreement (Tower Financial Corp)

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