Upon a Change in Control Sample Clauses


Upon a Change in Control the Award shall be treated in accordance with Section 4.1 of the Plan.


Upon a Change in Control the Option shall be treated in accordance with Section 4.1 of the Plan.

Upon a Change in Control. If a Change in Control shall have occurred at any time during the period in which this Agreement is effective, this Agreement shall continue in effect for (i) the remainder of the month in which the Change in Control occurred and (ii) a term of 12 months beyond the month in which such Change in Control occurred (such entire period hereinafter referred to as the "Protected Period"). Note that in certain circumstances defined and set forth below, provisions of this Agreement shall survive for longer than the period described above.

Upon a Change in Control the surviving corporation (or any affiliate thereto) or the potential successor (or any affiliate thereto) fails to continue or assume the obligations with respect to each stock option or fails to provide for the conversion or replacement of each stock option with an equivalent stock option; or

Upon a Change in Control of the Trust, the Trust or its successor after any transaction provided for in this subsection (hereinafter referred to as the “Successor”) may terminate Executive’s employment by delivery of written notice to the Executive, which notice must specify an effective date of termination not less than thirty (30) days from the date of the notice. A “change in control” for purposes of this subsection means (a) the Trust becomes a direct or indirect subsidiary of, or is merged or consolidated with or into, another entity, which entity is not controlled by the Trust or the Trust’s shareholders immediately after the transaction, (b) 51% or more of the voting power of shares of the Trust immediately after the transaction are not held by persons or entities who were shareholders of the Trust immediately before the transaction, (c) substantially all of the assets of the Trust are sold or transferred, in one transaction or a series of related transactions, to a person or entity, or two or more related people and/or entities, not owned or controlled by the Trust or its shareholders at the time of the transaction or at the time of the first in a series of related transactions, or (d) the individuals who, as of the date of this Agreement, are members of the Board, cease for any reason to constitute a majority of the members of the Board.

Upon a Change in Control. Upon a Change in Control, all future Deferrals shall cease and Participant shall be entitled to receive the balance in his Deferred Compensation Account as of the date of such Change in Control (with the exception that the Deferred Compensation Account Balance shall continue to be credited with interest at the Rate of Interest until all payments have been made). The Deferred Compensation Account Balance shall be paid out as follows: payments shall be made monthly for a period of ten (10) years (120 months). In addition, monthly payments shall be calculated to provide Participant with substantially equal monthly installments based on the Rate of Interest in effect when the initial payment is made, and readjusted annually to take into account any fluctuation in the Rate of Interest (as defined herein). Absent any delay imposed by Code Section 409A, (i.e. the 5 year delay for subsequent deferral elections, the 6 month delay for specified employees, etc.), payments shall commence or be made on the first day of the first month following the month in which Participant Separates From Service and shall continue thereafter for a period of one hundred and twenty (120) months.

Upon a Change in Control and subject to the exercise of the Administrator’s discretion to vest all Awards under Section 6.5, any then outstanding Awards shall be treated as provided in the applicable Award Agreement.


Upon a Change in Control no amendment shall be effective to change the payout schedule in Section 9.2(b).

Upon a Change in Control. The Employee may designate an alternative distribution in the event of a Change in Control (as defined in Section 5.j.) in the form of either a lump sum or annual installments (but no fewer than two and no more than 15) to be paid or, in the case of annual installments, to commence 30 days after the one year anniversary of the closing of such Change in Control. The determination of payments and installments, including the distribution of only whole shares of TCF Stock from the TCF Stock account, shall be the same as under the preceding paragraph (I).

Upon a Change in Control. The Administrator may allow Participants to make a separate distribution election for Account A and/or Account B in the event of a Change of Control under certain circumstances, provided, that, the period over which distributions may be made shall in no event be longer than that applicable to the Participant under Section 7.01. A Participant may change his payment election at any time, however the change will only be effective if filed at least one year prior to the Change in Control, except in the case of a Change in Control which occurs prior to December 31, 2004, in which event any election filed by December 31, 2003 will be effective. Notwithstanding any other provision of this Section 7.04 and any election previously made by the Participant, in the event that the value of the Accounts of the Participant is less than $25,000 as of the quarter-end preceding the Change in Control, any distribution to a Participant shall be in the form of a lump sum on or before February 15 of the year after the Change in Control. If a Participant does not timely file a separate payment election in the event of a Change in Control, he will be deemed to have elected the same distribution schedule as the timely filed Form of Payment Election for Account A. If no such election has been timely filed, then he will be deemed to have elected payment in a lump sum.