Common use of Termination by Citizens South Banking Corporation or Subsidiary Clause in Contracts

Termination by Citizens South Banking Corporation or Subsidiary. the Executive's employment with the Corporation or its Subsidiary(ies) is involuntarily terminated within 12 months after a Change in Control, except for termination under Section 4 of this Agreement. For purposes of this Agreement, "Subsidiary" means an entity in which the Corporation directly or indirectly beneficially owns 50% or more of the outstanding voting securities, or