Common use of Termination of Employment Following Change in Control Clause in Contracts

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b) of this Agreement) shall occur at any time during the term of this Agreement, Executive may terminate his employment for any reason or no reason by delivering a notice in writing (the “Notice of Termination”) to the Corporation within thirty (30) days of the Change in Control which termination shall be effective immediately upon delivery of such Notice of Termination.

Appears in 4 contracts

Samples: Employment Agreement (Tower Bancorp Inc), Employment Agreement (Sunshine Bancorp, Inc.), Employment Agreement (Tower Bancorp Inc)

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Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occur and (1) Executive is involuntarily terminated without Cause or (2) at any time during the term option of Executive, exercisable by Executive within one hundred eighty (180) days of the Change in Control, the Executive terminates employment and gives notice of the intention to collect benefits under this Agreement, Executive may terminate his employment for any reason or no reason Agreement by delivering a written notice in writing (the “Notice of Termination”) to Corporation and Bank, then the Corporation within thirty (30) days provisions of the Change in Control which termination Section 7 of this Agreement shall be effective immediately upon delivery of such Notice of Terminationapply.

Appears in 3 contracts

Samples: Employment Agreement (Acnb Corp), Employment Agreement (Acnb Corp), Employment Agreement (Acnb Corp)

Termination of Employment Following Change in Control. (a) If a)If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occur at any time during the term and (1) Executive is involuntarily terminated without Cause within one (1) year of this Agreement, a Change in Control or (2) if Executive may terminate his terminates employment for any reason or no reason by delivering a notice Good Reason as defined in writing Section 4(c) within one hundred eighty (the “Notice of Termination”) to the Corporation within thirty (30180) days of the Change in Control which termination Control, then the provisions of Section 7 of this Agreement shall be effective immediately upon delivery of such Notice of Termination.apply. 

Appears in 2 contracts

Samples: Agreement (Fidelity D & D Bancorp Inc), Agreement (Fidelity D & D Bancorp Inc)

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occur then, at any time during the term option of this AgreementExecutive, exercisable by Executive within one hundred eighty (180) days of the Change in Control, the Executive may terminate his employment for any reason or no reason give notice of the intention to collect benefits under this Agreement by delivering a written notice in writing (the “Notice of Termination”) to Corporation and Bank and the Corporation within thirty (30) days provisions of the Change in Control which termination Section 7 of this Agreement shall be effective immediately upon delivery of such Notice of Terminationapply.

Appears in 2 contracts

Samples: Employment Agreement (Acnb Corp), Employment Agreement (Acnb Corp)

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Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occur then, at any time during the term option of this AgreementExecutive, exercisable by Executive within one hundred twenty (120) days of the Change in Control, Executive may terminate his resign from employment for any reason or no reason with Bank (or, if involuntarily terminated, give notice of intention to collect benefits under this Agreement) by delivering a notice in writing (the “Notice of Termination”) to the Corporation within thirty (30) days of the Change in Control which termination shall be effective immediately upon delivery of such Notice of Termination.the

Appears in 1 contract

Samples: Employment Agreement (East Penn Financial Corp)

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occur at any time during the term and (1) Executive is involuntarily terminated without Cause within one (1) year of this Agreement, a Change in Control or (2) if Executive may terminate his terminates employment for any reason or no reason by delivering a notice Good Reason as defined in writing Section 4(c) within one hundred eighty (the “Notice of Termination”) to the Corporation within thirty (30180) days of the Change in Control which termination Control, then the provisions of Section 7 of this Agreement shall be effective immediately upon delivery of such Notice of Terminationapply.

Appears in 1 contract

Samples: Agreement (Acnb Corp)

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