Xxxxxxxxx Payment. If, during the first twelve (12) months of Executive’s employment with Mercantile, Executive (i) is terminated, (ii) has his salary reduced, (iii) is assigned a position or duties that are substantially diminished from his initial position or duties with Mercantile as described in the job description attached as Exhibit C or as may otherwise be agreed upon by Mercantile and Executive, or (iv) is relocated more than twenty-five (25) miles from his initial primary work location with Mercantile, Executive may terminate his employment and Mercantile will pay Executive a lump sum cash Severance Payment equal to the sum of:
Appears in 7 contracts
Samples: Employment Agreement, Employment Agreement (Firstbank Corp), Employment Agreement (Firstbank Corp)
