Common use of Change in Control Benefit Clause in Contracts

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily within 12 months after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months after a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 6 contracts

Samples: Continuation Agreement (Citizens South Banking Corp), Continuation Agreement (Citizens South Banking Corp), Continuation Agreement (Citizens South Banking Corp)

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Change in Control Benefit. If the Executive's ’s employment with the Bank terminates involuntarily within 12 24 months after the first occurrence of a Change in Control, Control or if in the event the Executive terminates employment voluntarily for Good Reason within 12 24 months after a of such Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's ’s employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 4 contracts

Samples: Split Dollar Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc), Split Dollar Agreement (Newmil Bancorp Inc)

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily within 12 months after a Change in Control, Control (excepting Termination for Cause) or if in the event the Executive terminates employment voluntarily for Good Reason within 12 months after a such Change in Control, the Bank shall pay to the Executive Executive's designated beneficiary the survivor income benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if 2.5 provided the Executive's employment is terminated under circumstances described in Article 5 of this AgreementExecutive dies before reaching age 85.

Appears in 4 contracts

Samples: Income Agreement (Middlefield Banc Corp), Income Agreement (Middlefield Banc Corp), Income Agreement (Middlefield Banc Corp)

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily within 12 months after a Change in Control, Control or if the Executive terminates employment voluntarily for Good Reason within 12 months after a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 2.3 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated termination occurs under circumstances described in Article 5 of this Agreement.

Appears in 3 contracts

Samples: Continuation Agreement (American River Bankshares), Dollar Agreement (American River Bankshares), Continuation Agreement (American River Bankshares)

Change in Control Benefit. If the Executive's ’s employment with the Bank terminates involuntarily within 12 24 months after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 24 months after a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 3.5 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated under circumstances described in Article 5 of this AgreementPlan.

Appears in 3 contracts

Samples: Supplemental Executive Retirement Plan (Lake Shore Bancorp, Inc.), Supplemental Executive Retirement Plan (Lake Shore Bancorp, Inc.), Supplemental Executive Retirement Plan (Lake Shore Bancorp, Inc.)

Change in Control Benefit. If the Executive's ’s employment with the Bank terminates involuntarily within 12 months after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months after a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's ’s employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp)

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily within 12 months after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months after a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 2 contracts

Samples: Continuation Agreement (Premierwest Bancorp), Salary Continuation Agreement (Premierwest Bancorp)

Change in Control Benefit. If the Executive's =s employment with the Bank terminates involuntarily within 12 months after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months after a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's =s employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Crescent Financial Corp), Salary Continuation Agreement (Crescent Financial Corp)

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily within 12 24 months after the first occurrence of a Change in Control, Control or if in the event the Executive terminates employment voluntarily for Good Reason within 12 24 months after a of such Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 2 contracts

Samples: Salary Continuation Agreement (First Northern Community Bancorp), Dollar Agreement (First Northern Community Bancorp)

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily within 12 months one year after a Change in Control, or if the Executive terminates employment voluntarily Control (excepting Termination for Good Reason within 12 months after a Change in ControlCause), the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 1 contract

Samples: Continuation Agreement (Cortland Bancorp Inc)

Change in Control Benefit. If Upon the Executive's employment with the Bank terminates involuntarily Termination of Employment within 12 months after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months three years after a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated Termination of Employment occurs under circumstances described in Article 5 of this Agreement.

Appears in 1 contract

Samples: Continuation Agreement (Unb Corp/Oh)

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Change in Control Benefit. If the Executive's ’s employment with the Bank terminates involuntarily for reasons other than a Termination for Cause within 12 36 months on or after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months after effective date of a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment Executive is terminated under circumstances described in Article 5 of this Agreement.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc)

Change in Control Benefit. If the Executive's Officer’s employment with the Bank terminates involuntarily within 12 months after a Change in Control, or if the Executive Officer terminates employment voluntarily for Good Reason within 12 months after a Change in Control, the Bank shall pay to the Executive Officer the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's Officer’s employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 1 contract

Samples: Salary Continuation Agreement (Midcarolina Financial Corp)

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily for reasons other than a Termination for Cause within 12 36 months on or after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months after effective date of a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment Executive is terminated under circumstances described in Article 5 of this Agreement.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc)

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily within 12 months after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months one year after a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 1 contract

Samples: Continuation Agreement (Fc Banc Corp)

Change in Control Benefit. If the Executive's =s employment with the Bank terminates involuntarily within 12 24 months after the first occurrence of a Change in Control, Control or if in the event the Executive terminates employment voluntarily for Good Reason within 12 24 months after a of such Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment is terminated under circumstances described in Article 5 of this Agreement.

Appears in 1 contract

Samples: Salary Continuation Agreement (Newmil Bancorp Inc)

Change in Control Benefit. If the Executive's ’s employment with the Bank terminates involuntarily for reasons other than a Termination for Cause within 12 24 months on or after a Change in Control, or if the Executive terminates employment voluntarily for Good Reason within 12 months after effective date of a Change in Control, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if the Executive's employment Executive is terminated under circumstances described in Article 5 of this Agreement.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc)

Change in Control Benefit. If the Executive's employment with the Bank terminates involuntarily within 12 24 months after a Change in Control, Control (excepting Termination for Cause) or if in the event the Executive terminates employment voluntarily for Good Reason within 12 24 months after a such Change in Control, the Bank shall pay to the Executive Executive's designated beneficiary the survivor income benefit described in this Section 2.4 instead of any other benefit under this Agreement. However, no benefits shall be payable under this Agreement if 2.6.2 following the Executive's employment is terminated under circumstances described in Article 5 of this Agreementdeath.

Appears in 1 contract

Samples: Income Agreement (Fauquier Bankshares Inc)

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