Common use of Termination in Connection with Change of Control Clause in Contracts

Termination in Connection with Change of Control. (A) In the event that, before the expiration of the TERM and within six months before or within one year after a CHANGE OF CONTROL (as defined hereinafter) of the EMPLOYER, (I) the employment of the EMPLOYEE is terminated for any reason other than JUST CAUSE, (II) the present capacity or circumstances in which the EMPLOYEE is employed are materially changed, or (III) the EMPLOYEE's responsibilities, authority, compensation or other benefits provided under this AGREEMENT are materially reduced, then the following shall occur:

Appears in 5 contracts

Samples: Employment Agreement (Peoples Financial Corp \Oh\), Employment Agreement (Peoples Financial Corp \Oh\), Employment Agreement (Peoples Financial Corp \Oh\)

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Termination in Connection with Change of Control. (Aa) In the event that, before the expiration of the TERM and within six months before or within one year after a CHANGE OF CONTROL (as defined hereinafter) of the EMPLOYER, (I) the employment of the EMPLOYEE is terminated for any reason other than JUST CAUSE, (II) the present capacity or circumstances in which the EMPLOYEE is employed are materially changed, or (III) the EMPLOYEE's responsibilities, authority, compensation or other benefits provided under this AGREEMENT are materially reduced, then the following shall occur:

Appears in 1 contract

Samples: Employment Agreement (Peoples Financial Corp \Oh\)

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