Common use of Termination by NewMil Bancorp or Subsidiary Clause in Contracts

Termination by NewMil Bancorp or Subsidiary. the Executive’s employment with NewMil Bancorp or its Subsidiary(ies) is involuntarily terminated within two years 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 NewMil Bancorp directly or indirectly beneficially owns 50% or more of the outstanding voting securities, or

Termination by NewMil Bancorp or Subsidiary. the Executive’s 's employment with NewMil Bancorp or its Subsidiary(ies) is involuntarily terminated within two years 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 NewMil Bancorp directly or indirectly beneficially owns 50% or more of the outstanding voting securities, or