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

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b) of this Agreement) shall occur, then, at the option of Executive, exercisable by Executive within three hundred sixty five (365) days of the Change in Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice of intention to collect benefits under this Agreement) by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 of this Agreement shall apply.

Appears in 5 contracts

Samples: Employment Agreement (Sterling Financial Corp /Pa/), Employment Agreement (Sterling Financial Corp /Pa/), Employment Agreement (Sterling Financial Corp /Pa/)

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Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occuroccur and if, within twelve (12) months following the Change in Control (as defined in Section 6(b) of this Agreement), Executive’s employment is involuntarily terminated (other than for the Cause as defined in Section 4(b) of this Agreement), then, at the option of Executive, exercisable by Executive within three hundred sixty five (365) days of the Change in Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice of intention to collect benefits under this Agreement) , by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 7 of this Agreement shall apply.

Appears in 5 contracts

Samples: Employment Agreement (Sun Bancorp Inc), Employment Agreement (Sun Bancorp Inc), Employment Agreement (Sun Bancorp Inc)

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occuroccur and if, within twelve (12) months following the Change in Control (as defined in Section 6(b) of this Agreement), Executive's employment is involuntarily terminated (other than for the Cause as defined in Section 4(b) of this Agreement), then, at the option of Executive, exercisable by Executive within three hundred sixty five (365) days of the Change in Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice of intention to collect benefits under this Agreement) , by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 7 of this Agreement shall apply.

Appears in 2 contracts

Samples: Employment Agreement (Sun Bancorp Inc), Employment Agreement (Sun Bancorp Inc)

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occur, then, occur and (1) Executive is involuntarily terminated without Cause or (2) at the option of Executive, exercisable by Executive within three one hundred sixty five eighty (365180) days of the Change in Control, the Executive may resign from terminates employment with Corporation and Bank (or, if involuntarily terminated, give gives notice of the intention to collect benefits under this Agreement) Agreement by delivering a written notice in writing (the "Notice of Termination") to Corporation and Bank and the Bank, then the provisions of Section 6 7 of this Agreement shall apply.

Appears in 1 contract

Samples: Employment Agreement (Acnb Corp)

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occur, occur then, at the option of Executive, exercisable by Executive within three one hundred sixty five eighty (365180) days of the Change in of Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice of intention to collect benefits under this Agreement) by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 7 of this Agreement shall apply.

Appears in 1 contract

Samples: Employment Agreement (Sun Bancorp Inc)

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Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occur, then, occur and (1) Executive is involuntarily terminated without Cause or (2) at the option of Executive, exercisable by Executive within three one hundred sixty five eighty (365180) days of the Change in Control, the Executive may resign from terminates employment with Corporation and Bank (or, if involuntarily terminated, give gives notice of the intention to collect benefits under this Agreement) Agreement by delivering a written notice in writing (the "Notice of Termination") to Corporation and Bank and Bank, then the provisions of Section 6 7 of this Agreement shall apply.

Appears in 1 contract

Samples: Employment Agreement (Acnb Corp)

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b) of this Agreement) shall occur, then, at the option of Executive, exercisable by Executive within three hundred sixty five (365) days of the Change in Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice by delivering a written “Notice of intention Intention to collect benefits Collect Benefits” under this Agreement) by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 of this Agreement shall apply.

Appears in 1 contract

Samples: Employment Agreement (Sterling Financial Corp /Pa/)

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