Common use of Change in Control Continuation Clause in Contracts

Change in Control Continuation. If the Executive’s employment with the Bank terminates involuntarily within 24 months after a Change in Control (excepting Termination for Cause) or in the event the Executive terminates employment voluntarily for Good Reason within 24 months after such Change in Control, the Bank shall pay the Executive’s designated beneficiary the survivor income benefit described in Section 2.5.2 following the Executive’s death.

Appears in 3 contracts

Samples: Income Agreement (Premierwest Bancorp), Income Agreement (Premierwest Bancorp), Income Agreement (Premierwest Bancorp)

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Change in Control Continuation. If the Executive’s 's employment with the Bank terminates involuntarily within 24 12 months after a Change in Control (excepting Termination for Cause) or in the event the Executive terminates employment voluntarily for Good Reason within 24 12 months after such Change in Control, the Bank shall pay the Executive’s 's designated beneficiary the survivor income benefit described in Section 2.5.2 2.5 following the Executive’s 's death, provided the Executive dies before attaining Normal Retirement Age.

Appears in 3 contracts

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

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Change in Control Continuation. If the Executive’s 's employment with the Bank terminates involuntarily within 24 months after a Change in Control (excepting Termination for Cause) or in the event the Executive terminates employment voluntarily for Good Reason within 24 months after such Change in Control, the Bank shall pay the Executive’s 's designated beneficiary the survivor income benefit described in Section 2.5.2 following the Executive’s 's death.

Appears in 1 contract

Samples: Executive Survivor Income Agreement (Premierwest Bancorp)

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