Definition of Pre-Change in Control Qualifying Termination


Pre-Change in Control Qualifying Termination means Employee's termination of employment with the Bank by the Bank without Cause within the ninety (90) day period immediately preceding the Change in Control Effective Date. For the avoidance of doubt, in no event shall Employee be deemed to have experienced a Pre-Change in Control Qualifying Termination as a result of (i) Employee's termination of employment by the Bank without Cause other than during the ninety (90) day period immediately preceding the Change in Control Effective Date, (ii) Employee's death or Disability, (iii) Employee's resignation from employment with the Bank for any reason or no reason, or (iv) Employee's termination of employment by the Bank for Cause.

Examples of Pre-Change in Control Qualifying Termination in a sentence

The Company may at any time change any Participants compensation, title, employment responsibilities, job location and any other aspect of the Companys employment relationship with such Participant, or terminate such Participants employment prior to a Change in Control (subject to such termination being determined to be a Pre-Change in Control Qualifying Termination pursuant to Section 3.1(b)).
If Employee's employment with the Bank is terminated for any reason other than by reason of a Pre-Change in Control Qualifying Termination prior to the Change in Control Effective Date, then Employee shall not be entitled to the Change in Control Bonus or the Post-Closing Retention Bonus.
The termination of a Participants employment that entitles the Participant to Severance Benefits pursuant to this Section 3.1(b) is referred to in this Plan as a Pre-Change in Control Qualifying Termination.
A Pre-Change in Control Qualifying Termination will not include a termination of a Participants employment by reason of death or Disability, the Companys termination of a Participants employment for Cause or a Participants voluntary termination without Good Reason.
If Employee's employment with the Bank is terminated for any reason other than by reason of a Pre-Change in Control Qualifying Termination prior to the Change in Control Effective Date, then Employee shall not be entitled to the Change in Control Bonus.