Change of Control Severance Benefit. (a) Subject to (i) the expiration of any applicable waiting periods contained herein, and (ii) the following provisions of this Section 6, the Bank shall provide the Executive with the payments and benefits set forth in this Section 6, in lieu of severance payments or benefits under Section 5, if, during the Term and concurrent with or within twenty-four (24) months after a Change of Control (as defined in subsection (g) below), either (A) the Company and the Bank terminate the Executive’s employment with the Company and the Bank and this Agreement other than pursuant to Section 8, or (B) the Executive terminates his employment with the Company and the Bank and this Agreement for Good Reason pursuant to Section 9.
Appears in 8 contracts
Samples: Employment Agreement (NorthEast Community Bancorp, Inc./Md/), Employment Agreement (NorthEast Community Bancorp, Inc./Md/), Employment Agreement (Columbia Financial, Inc.)
Change of Control Severance Benefit. (a) Subject a)Subject to (i) the expiration of any applicable waiting periods contained herein, and (ii) the following provisions of this Section 6, the Bank shall provide the Executive with the payments and benefits set forth in this Section 6, in lieu of severance payments or benefits under Section 5, if, during the Term and concurrent with or within twenty-four (24) months after a Change of Control (as defined in subsection (g) below), either (A) the Company and the Bank terminate the Executive’s employment with the Company and the Bank and this Agreement other than pursuant to Section 8, or (B) the Executive terminates his employment with the Company and the Bank and this Agreement for Good Reason pursuant to Section 9.
Appears in 3 contracts
Samples: Employment Agreement (NorthEast Community Bancorp, Inc./Md/), Employment Agreement (NorthEast Community Bancorp, Inc./Md/), Employment Agreement (NorthEast Community Bancorp, Inc./Md/)
Change of Control Severance Benefit. (a) Subject to (i) the expiration of any applicable waiting periods contained herein, and (ii) the following provisions of this Section 6, the Bank shall provide the Executive with the payments and benefits set forth in this Section 6, in lieu of severance payments or benefits under Section 5, if, during the Term and concurrent with or within twenty-four (24) months after a Change of Control (as defined in subsection (g) below), either (A) the Company and the Bank terminate the Executive’s employment with the Company and the Bank and this Agreement other than pursuant to Section 8, or (B) the Executive terminates his employment with the Company and the Bank and this Agreement for Good Reason pursuant to Section 9. Executive is also entitled to his Accrued Obligations as of his Termination Date.
Appears in 2 contracts
Samples: Employment Agreement (ECB Bancorp, Inc. /MD/), Employment Agreement (ECB Bancorp, Inc. /MD/)
Change of Control Severance Benefit. (a) Subject to (i) the expiration of any applicable waiting periods contained herein, and (ii) the following provisions of this Section 6, the Bank shall provide the Executive with the payments and benefits set forth in this Section 6, in lieu of severance payments or benefits under Section 5, if, during the Term and concurrent with or within twenty-four (24) months after a Change of Control (as defined in subsection (g) below), either (A) the Company and the Bank terminate the Executive’s employment with the Company and the Bank and this Agreement other than pursuant to Section 8, or (B) the Executive terminates his her employment with the Company and the Bank and this Agreement for Good Reason pursuant to Section 9.
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Change of Control Severance Benefit. (a) Subject to (i) the expiration of any applicable waiting periods contained herein, and (ii) the following provisions of this Section 6, the Bank shall provide the Executive with the payments and benefits set forth in this Section 6, in lieu of severance payments or benefits under Section 5, if, during the Term and concurrent with or within twenty-four (24) months after a Change of Control (as defined in subsection (g) below), either (A) the Company Bancorp and the Bank terminate the Executive’s employment with the Company Bancorp and the Bank and this Agreement other than pursuant to Section 8, or (B) the Executive terminates his employment with the Company Bancorp and the Bank and this Agreement for Good Reason pursuant to Section 9..
Appears in 1 contract
Samples: Officer Employment Agreement (William Penn Bancorporation)
Change of Control Severance Benefit. (a) Subject to (i) the Executive’s timely execution and filing of a Release in accordance with Section 18, (ii) the expiration of any applicable waiting periods contained herein, and (iiiii) the following provisions of this Section 6Section, the Bank Company shall provide the Executive with the payments and benefits set forth in this Section 6Section, in lieu of severance payments or benefits under Section 56, if, during the Term and concurrent with or within twenty-four twelve (2412) months after a Change of Control (as defined in subsection (g) below)Control, either (A) the Company and the Bank terminate terminates the Executive’s employment with the Company and the Bank and this Agreement Employment (other than pursuant to Section 89), or (B) the Executive voluntarily terminates his employment with the Company and the Bank and this Agreement for Good Reason Employment pursuant to Section 910 for Good Reason.
Appears in 1 contract
Samples: Employment Agreement (New York Community Bancorp Inc)
Change of Control Severance Benefit. (a) Subject to (i) the expiration of any applicable waiting periods contained herein, and (ii) the following provisions of this Section 6, the Bank shall provide the Executive with the payments and benefits set forth in this Section 6, in lieu of severance payments or benefits under Section 5, if, during the Term and concurrent with or within twenty-four (24) months after a Change of Control (as defined in subsection (g) below), either (A) the Company Bancorp and the Bank terminate the Executive’s employment with the Company Bancorp and the Bank and this Agreement other than pursuant to Section 8, or (B) the Executive terminates his employment with the Company Bancorp and the Bank and this Agreement for Good Reason pursuant to Section 9.
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Change of Control Severance Benefit. (a) Subject to (i) the expiration of any applicable waiting periods contained herein, and (ii) the following provisions of this Section 6, the Bank shall provide the Executive with the payments and benefits set forth in this Section 6, in lieu of severance payments or benefits under Section 5, if, during the Term and concurrent with or within twenty-four (24) months after a Change of Control (as defined in subsection (g) below), either (A) the Company Bancorp and the Bank terminate the Executive’s employment with the Company Bancorp and the Bank and this Agreement other than pursuant to Section 8, or (B) the Executive terminates his her employment with the Company Bancorp and the Bank and this Agreement for Good Reason pursuant to Section 9.
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