Common use of Termination of Employment Following Change in Control Clause in Contracts

Termination of Employment Following Change in Control. If a Change in Control of the Company shall have occurred, Executive shall be entitled to the benefits provided in Section 1.2 hereof upon the subsequent termination of Executive’s employment within twelve (12) months after the effective date of such Change in Control, unless such termination is (a) because of Executive’s death or Retirement, (b) by the Company for Cause or (c) by Executive other than for Good Reason. For purposes of this Agreement:

Appears in 8 contracts

Samples: Control Agreement, Change in Control Agreement (GTC Biotherapeutics Inc), Executive Change in Control Agreement (GTC Biotherapeutics Inc)

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Termination of Employment Following Change in Control. (a) If a Change in Control of the Company shall have occurred, Executive shall be entitled to the benefits provided (as defined in Section 1.2 hereof upon the subsequent termination of Executive’s employment within twelve (126(b) months after the effective date of such Change in Control, unless such termination is (a) because of Executive’s death or Retirement, (b) by the Company for Cause or (c) by Executive other than for Good Reason. For purposes of this Agreement:) shall occur and (1) Executive is involuntarily terminated without Cause within two (2) years of a Change in Control or (2) if Executive terminates employment for Good Reason as defined in Section 4(c) within one year of the Change in Control or (3) Executive experiences an involuntary Separation of Service, within two (2) years of a Change of Control, then the provisions of Section 7 of this Agreement shall apply.

Appears in 3 contracts

Samples: Employment Agreement (Acnb Corp), Employment Agreement (Acnb Corp), Employment Agreement (Acnb Corp)

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 6(b) of this Agreement) shall occur and (1) Executive is involuntarily terminated without Cause within two (2) years of a Change in Control or (2) if Executive terminates employment for Good Reason as defined in Section 4(c) within one hundred eighty (180) days of the Company shall have occurred, Executive shall be entitled to the benefits provided in Section 1.2 hereof upon the subsequent termination of Executive’s employment within twelve (12) months after the effective date of such Change in Control, unless such termination is (a) because then the provisions of Executive’s death or Retirement, (b) by the Company for Cause or (c) by Executive other than for Good Reason. For purposes Section 7 of this Agreement:Agreement shall apply.

Appears in 3 contracts

Samples: Employment Agreement (Acnb Corp), Employment Agreement (Acnb Corp), Agreement (Acnb Corp)

Termination of Employment Following Change in Control. If a Change in Control of the Company shall have occurred, Executive shall be entitled to the benefits provided in Section 1.2 4.2 hereof upon the subsequent termination of Executive’s 's employment within twelve (12) months after the effective date of such Change in Control, unless such termination is (a) because of Executive’s 's death or Retirement, (b) by the Company for Cause or (c) by Executive other than for Good Reason. For purposes of this Agreement:

Appears in 2 contracts

Samples: Executive Employment Agreement (Genzyme Transgenics Corp), Executive Employment Agreement (GTC Biotherapeutics Inc)

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Termination of Employment Following Change in Control. If a Change in Control of the Company shall have occurred, Executive shall be entitled to the benefits provided in Section 1.2 4.2 hereof upon the subsequent termination of Executive’s employment within twelve (12) months after the effective date of such Change in Control, unless such termination is (a) because of Executive’s death or Retirement, (b) by the Company for Cause or (c) by Executive other than for Good Reason. For purposes of this Agreement:

Appears in 1 contract

Samples: Executive Employment Agreement (GTC Biotherapeutics Inc)

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