Common use of COMMITMENT OF EXECUTIVE Clause in Contracts

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended or may result in a Change of Control, Executive shall, at the Employer’s request, assist the Company in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive cannot resign from the Company during any period from the receipt of a specific Change of Control proposal through the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 4 contracts

Samples: Employment Agreement (Washington Banking Co), Employment Agreement (Washington Banking Co), Employment Agreement (Washington Banking Co)

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COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which that is intended to or may result in a Change of in Control, Executive shall, at the EmployerCompany’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance BenefitSalary Continuation Payment, Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 4 contracts

Samples: Continuation Agreement (Pacific Continental Corp), Continuation Agreement (Pacific Continental Corp), Continuation Agreement (Pacific Continental Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which that is intended to or may result in a Change of in Control, Executive shall, at the Employer’s Company's or the Bank's request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance BenefitSalary Continuation Payment, Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 2 contracts

Samples: Continuation Agreement (Pacific Continental Corp), Continuation Agreement (Pacific Continental Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which that is intended to or may result in a Change of Controlin Control (defined below), Executive shall, at the EmployerCompany’s request, assist the Company in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance BenefitChange in Control Payment (defined below), Executive cannot resign from the Company during any period from the receipt of a specific Change of in Control proposal through up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 2 contracts

Samples: Change in Control Severance Agreement (Fisher Communications Inc), Change in Control Severance Agreement (Fisher Communications Inc)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which that is intended to or may result in a Change of Controlin Control (defined below), Executive shall, at the EmployerCompany’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance BenefitChange in Control Payment (defined below), Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 2 contracts

Samples: Employment Agreement (Coastal Financial Corp), Employment Agreement (Coastal Financial Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended or may result in a Change of Control, Executive shall, at the Employer’s request, assist the Company in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive cannot resign resign, even for Good Reason, from the Company during any period from the receipt of a specific Change of Control proposal through the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 2 contracts

Samples: Employment Agreement (Washington Banking Co), Employment Agreement (Washington Banking Co)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended or may could result in a Change of in Control, the Executive shallwill, at the Employer’s Board's request, assist the Company Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive canspecifically agrees that he will not resign from his position with the Company Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.

Appears in 1 contract

Samples: Executive Severance Agreement (Washington Banking Co)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which that is intended to or may result in a Change of Controlin Control (defined below), Executive shall, at the EmployerCompany’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance BenefitChange in Control Payment (defined below), Executive cannot resign without Good Reason (as defined below) from the Company or the Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Coastal Financial Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended to or may result in a Change of in Control, as defined below (a "Change in Control Proposal"), Executive shall, at the Employer’s Bank's request, assist the Company Combined Corporation in evaluating such proposal or offer. Further, subject Executive specifically agrees not to resign Executive's position with the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive cannot resign from the Company Bank during any period from the receipt of a specific Change of in Control proposal through Proposal up to the consummation or abandonment of the transaction contemplated by such proposalProposal.

Appears in 1 contract

Samples: Salary Continuation Agreement (West Coast Bancorp /New/Or/)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended or may could result in a Change of in Control, the Executive shall, at the Employer’s request, assist the Company in evaluating will fully evaluate such proposal or offer. Further, subject offer and present his evaluation to the additional terms and conditions Board of this Agreement, in order to receive Directors of the Severance Benefit, Bank. The Executive canspecifically agrees that he/she will not voluntarily resign from his/her position(s) with the Company Bank during any period from the receipt of a specific Change of change in Control proposal through up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.

Appears in 1 contract

Samples: Executive Severance Agreement (Cowlitz Bancorporation)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended or may could result in a Change of Controlchange in control, the Executive shallwill, at the Employer’s Board's request, assist the Company Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive canspecifically agrees that he will not resign from his position(s) with the Company Employer Group during any period from the receipt of a specific Change of Control change in control proposal through up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.. 2 CENTRAL WASHINGTON BANK EXECUTIVE SEVERANCE AGREEMENT PAGE 2

Appears in 1 contract

Samples: Agreement (Central Bancorporation /Wa/)

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COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which that is intended to or may result in a Change of in Control, Executive shall, at the EmployerCompany’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance BenefitChange in Control Payment, Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 1 contract

Samples: Change in Control Agreement (Pacific Continental Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended or may could result in a Change of in Control, the Executive shallwill, at the EmployerBoard’s request, assist the Company Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive canspecifically agrees that he will not resign from his position with the Company Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.

Appears in 1 contract

Samples: Executive Severance Agreement (Pacific Continental Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal ----------------------- or offer which is intended or may could result in a Change of in Control, the Executive shallwill, at the Employer’s Board's request, assist the Company Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive canspecifically agrees that he will not resign from his position with the Company Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.

Appears in 1 contract

Samples: Executive Severance Agreement (Pacific Continental Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended or may could result in a Change of Controlchange in control, the Executive shallwill, at the Employer’s Board's request, assist the Company Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive canspecifically agrees that he will not resign from his position(s) with the Company Employer Group during any period from the receipt of a specific Change of Control change in control proposal through up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.. 2 EXECUTIVE SEVERANCE AGREEMENT PAGE 2

Appears in 1 contract

Samples: Executive Severance Agreement (Central Bancorporation /Wa/)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which is intended or may could result in a Change of Controlchange in control, the Executive shallwill, at the Employer’s Board's request, assist the Company Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance Benefit, Executive canspecifically agrees that he will not resign from his position(s) with the Company Employer Group during any period from the receipt of a specific Change of Control change in control proposal through up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.

Appears in 1 contract

Samples: Severance Agreement (Central Bancorporation /Wa/)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which that is intended to or may result in a Change of Controlin Control (defined below), Executive shall, at the EmployerCompany’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance BenefitChange in Control Payment (defined below), Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change of in Control proposal through up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Coastal Financial Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer which that is intended to or may result in a Change of Controlin Control (defined below), Executive shall, at the Employer’s requestrequest of the Company, assist the Company in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Severance BenefitChange in Control Payment (defined below), Executive cannot resign from the Company during any period from the receipt of a specific Change of in Control proposal through up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Skagit State Bancorp, Inc.)

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