Common use of Change in Control Payment Clause in Contracts

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Salary at the highest rate in effect during the twelve (12) month period immediately preceding her Termination Date, such Change Payment to be made to Xxxxxxxx within forty-five (45) days after the later of (i) her Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times XxxxxxxxXxxxxxx’ Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Xxxxxxx within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxxxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 10.3 hereof and (ii) any reduction required pursuant to Section 10.1.2 10.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Xxxxx’x Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Xxxxx within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxxx fails to sign and deliver to the Bank Bancorp no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 10.3 hereof and (ii) any reduction required pursuant to Section 10.1.2 10.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Langmead resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Langmead shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Langmead’s Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Langmead within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Langmead fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 10.3 hereof and (ii) any reduction required pursuant to Section 10.1.2 10.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times XxxxxxxxXxxxxxx’ Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Xxxxxxx within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxxxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. A, Notwithstanding anything to the contrary foregoing, in this accordance with Section 9.4, any payment pursuant to this Section 9.6 below the date on which the Change Payment shall be paid to Xxxxxxx shall be delayed in order to ensure that such payment is not subject to (i) any delay in payment required by excise tax under Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.409A.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx resigns after the Action Period pursuant to Section 9.39.2, Xxxxxxxx Executive shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ the sum of (a) Executive’s Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date and (b) cash bonuses received during the twelve (12) month period immediately preceding his Termination Date, such Change Payment to be made to Xxxxxxxx Executive within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Executive fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxxxx-Xxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxxxx-Xxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Xxxxxx-Xxxxx’x Salary at the highest rate in effect during the twelve (12) month period immediately preceding her Termination Date, such Change Payment to be made to Xxxxxxxx Xxxxxx-Xxxxx within forty-five (45) days after the later of (i) her Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxxxx-Xxxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 10.3 hereof and (ii) any reduction required pursuant to Section 10.1.2 10.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Xxxxxx’x Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Xxxxxx within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Langmead resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Langmead shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Langmead’s Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Langmead within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Langmead fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Salary at the highest rate in effect during the twelve (12) month period immediately preceding her Termination Date, such Change Payment to be made to Xxxxxxxx within forty-five (45) days after the later of (i) her Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 10.3 hereof and (ii) any reduction required pursuant to Section 10.1.2 10.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Xxxxxx’x Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Xxxxxx within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 10.3 hereof and (ii) any reduction required pursuant to Section 10.1.2 10.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Xxxxx’x Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Xxxxx within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxxx fails to sign and deliver to the Bank Bancorp no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Xxxx’x Salary at the highest rate in effect during the twelve (12) month period immediately preceding her Termination Date, such Change Payment to be made to Xxxxxxxx Xxxx within forty-five (45) days after the later of (i) her Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 10.3 hereof and (ii) any reduction required pursuant to Section 10.1.2 10.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Hxxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Hxxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 1.99 times Xxxxxxxx’ Hxxxx’x Salary at the highest rate in effect during the twelve (12) month period immediately preceding her Termination Date, such Change Payment to be made to Xxxxxxxx within Hxxxx on the date forty-five (45) days after the later of (i) her the Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Hxxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section 9.4 shall be subject to (i) any delay in payment required by Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Xxxx resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Xxxx shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 times Xxxxxxxx’ Xxxx’x Salary at the highest rate in effect during the twelve (12) month period immediately preceding her Termination Date, such Change Payment to be made to Xxxxxxxx Xxxx within forty-five (45) days after the later of (i) her Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Xxxx fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.

Change in Control Payment. If there is a Change in Control Termination pursuant to Section 9.2 or Xxxxxxxx Bensignor resigns after the Action Period pursuant to Section 9.3, Xxxxxxxx Bensignor shall be paid a lump-sum cash payment (the “Change Payment”) equal to 2.99 1.99 times Xxxxxxxx’ Bensignor’s Salary at the highest rate in effect during the twelve (12) month period immediately preceding her his Termination Date, such Change Payment to be made to Xxxxxxxx Bensignor within forty-five (45) days after the later of (i) her his Termination Date or (ii) the date of the Change in Control, the exact date of payment to be determined in the sole discretion of the Bank; provided, however, that the Bank shall be relieved of its obligation to pay the Change Payment if Xxxxxxxx Bensignor fails to sign and deliver to the Bank no later than twenty-one (21) days after the Termination Date a General Release and Waiver in the form attached to this Agreement as Exhibit A. Notwithstanding anything to the contrary in this Section 9.4, any payment pursuant to this Section shall be subject to (i) any delay in payment required by Section 10.2 hereof and (ii) any reduction required pursuant to Section 10.1.2 hereof, as applicable.