Common use of Change of Control Severance Benefit Clause in Contracts

Change of Control Severance Benefit. (a) Subject to (i) the Executive’s timely execution and filing of a Release in accordance with Section 19, (ii) the expiration of any applicable waiting periods contained herein, and (iii) the following provisions of this Section, the Employing Companies shall provide the Executive with the payments and benefits set forth in this Section, if (i) during the Term and concurrent with or within twelve (12) months after a Change in Control, the Executive voluntarily terminates his Employment by providing thirty (30) days prior written notice to the Company, or (ii) during the Term and concurrent with or within two (2) years after a Change of Control, either (A) the Employing Companies Terminate the Executive’s Employment (other than a termination for Cause, Disability, or death pursuant to Section 10), or (B) the Executive voluntarily Terminates his Employment pursuant to Section 11 for Good Reason.

Appears in 2 contracts

Samples: Employment Agreement (Old National Bancorp /In/), Employment Agreement (Old National Bancorp /In/)

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Change of Control Severance Benefit. (a) Subject to (i) the Executive’s 's timely execution and filing of a Release in accordance with Section 1917, (ii) the expiration of any applicable waiting periods contained herein, and (iii) the following provisions of this Section, the Employing Companies shall provide the Executive with the payments and benefits set forth in this Section, if (i) during the Term and concurrent with or within twelve (12) months after a Change in Control, the Executive voluntarily terminates his Employment by providing thirty (30) days prior written notice to the Company, or (ii) during the Term and concurrent with or within two (2) years after a Change of Control, either (A) the Employing Companies Terminate the Executive’s 's Employment (other than a termination for Cause, Disability, or death pursuant to Section 10)8), or (B) the Executive voluntarily Terminates his Employment pursuant to Section 11 9 for Good Reason.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Monroe Bancorp)

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Change of Control Severance Benefit. (a) Subject to (i) the Executive’s timely execution and filing of a Release in accordance with Section 1917, (ii) the expiration of any applicable waiting periods contained herein, and (iii) the following provisions of this Section, the Employing Companies shall provide the Executive with the payments and benefits set forth in this Section, if (i) during the Term and concurrent with or within twelve (12) months after a Change in Control, the Executive voluntarily terminates his Employment by providing thirty (30) days prior written notice to the Company, or (ii) during the Term and concurrent with or within two (2) years after a Change of Control, either (A) the Employing Companies Terminate the Executive’s Employment (other than a termination for Cause, Disability, or death pursuant to Section 10)8), or (B) the Executive voluntarily Terminates his Employment pursuant to Section 11 9 for Good Reason.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Old National Bancorp /In/)

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