Common use of COMMITMENT OF EXECUTIVE Clause in Contracts

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may result in a Change in Control, Executive shall, at the Company’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation Payment, Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 4 contracts

Samples: Severance/Salary Continuation Agreement (Pacific Continental Corp), Severance/Salary Continuation Agreement (Pacific Continental Corp), Severance/Salary Continuation Agreement (Pacific Continental Corp)

AutoNDA by SimpleDocs

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that which is intended to or may result in a Change in of Control, Executive shall, at the Company’s or the BankEmployer’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation PaymentSeverance Benefit, Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change in of Control proposal up to through the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 4 contracts

Samples: Employment Agreement (Washington Banking Co), Employment Agreement (Washington Banking Co), Employment Agreement (Washington Banking Co)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that which is intended to or may result in a Change in of Control, Executive shall, at the Company’s or the BankEmployer’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation PaymentSeverance Benefit, Executive cannot resign resign, even for Good Reason, from the Company or the Bank during any period from the receipt of a specific Change in of Control proposal up to through the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 2 contracts

Samples: Employment Agreement (Washington Banking Co), Employment Agreement (Washington Banking Co)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may result in a Change in Control, Executive shall, at the Company’s 's or the Bank’s 's request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation Payment, Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 2 contracts

Samples: Change in Control/Salary Continuation Agreement (Pacific Continental Corp), Change in Control/Salary Continuation Agreement (Pacific Continental Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may result in a Change in ControlControl (defined below), Executive shall, at the Company’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation PaymentChange in Control Payment (defined below), Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 2 contracts

Samples: Change in Control Severance Agreement (Fisher Communications Inc), Change in Control Severance Agreement (Fisher Communications Inc)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may result in a Change in ControlControl (defined below), Executive shall, at the Company’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation PaymentChange in Control Payment (defined below), Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 2 contracts

Samples: Employment Agreement (Coastal Financial Corp), Employment Agreement (Coastal Financial Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may result in a Change in Control, Executive shall, at the Company’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation Change in Control Payment, Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 1 contract

Samples: Change in Control Agreement (Pacific Continental Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may which could result in a Change change in Controlcontrol, the Executive shallwill, at the Company’s or the Bank’s Board's request, assist the Company and/or the Bank Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation Payment, Executive canspecifically agrees that he will not resign from his position(s) with the Company or the Bank Employer Group during any period from the receipt of a specific Change change in Control control proposal up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.

Appears in 1 contract

Samples: Executive Severance Agreement (Central Bancorporation /Wa/)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may result in a Change in ControlControl (defined below), Executive shall, at the Company’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation PaymentChange in Control Payment (defined below), Executive cannot resign without Good Reason (as defined below) from the Company or the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Coastal Financial Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may which could result in a Change in Control, the Executive shallwill, at the Company’s or the BankBoard’s request, assist the Company and/or the Bank Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation Payment, Executive canspecifically agrees that he will not resign from the Company or his position with the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.

Appears in 1 contract

Samples: Executive Severance Agreement (Pacific Continental Corp)

AutoNDA by SimpleDocs

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may result in a Change in ControlControl (defined below), Executive shall, at the Company’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation PaymentChange in Control Payment (defined below), Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Coastal Financial Corp)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that which is intended to or may result in a Change in Control, as defined below (a "Change in Control Proposal"), Executive shall, at the Company’s or the Bank’s 's request, assist the Company and/or the Bank Combined Corporation in evaluating such proposal or offer. Further, subject Executive specifically agrees not to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation Payment, Executive cannot resign from the Company or Executive's position with the Bank during any period from the receipt of a specific Change in Control proposal Proposal up to the consummation or abandonment of the transaction contemplated by such proposalProposal.

Appears in 1 contract

Samples: Salary Continuation Agreement (West Coast Bancorp /New/Or/)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may which could result in a Change in Control, the Executive shall, at the Company’s or the Bank’s request, assist the Company and/or the Bank in evaluating will fully evaluate such proposal or offer. Further, subject offer and present his evaluation to the additional terms and conditions Board of this Agreement, in order to receive Directors of the Salary Continuation Payment, Bank. The Executive canspecifically agrees that he/she will not voluntarily resign from the Company or his/her position(s) with the Bank during any period from the receipt of a specific Change change in Control proposal up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal. In the event of a voluntary resignation in violation of this provision, the Executive shall forfeit his/her rights and benefits under this agreement.

Appears in 1 contract

Samples: Executive Severance Agreement (Cowlitz Bancorporation)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may result in a Change in ControlControl (defined below), Executive shall, at the request of the Company’s or the Bank’s request, assist the Company and/or the Bank in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation PaymentChange in Control Payment (defined below), Executive cannot resign from the Company or the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation or abandonment of the transaction contemplated by such proposal.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Skagit State Bancorp, Inc.)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal or offer that is intended to or may which could result in a Change change in Controlcontrol, the Executive shallwill, at the Company’s or the Bank’s Board's request, assist the Company and/or the Bank Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation Payment, Executive canspecifically agrees that he will not resign from his position(s) with the Company or the Bank Employer Group during any period from the receipt of a specific Change change in Control control proposal up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.. 2 EXECUTIVE SEVERANCE AGREEMENT PAGE 2

Appears in 1 contract

Samples: Executive Severance Agreement (Central Bancorporation /Wa/)

COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal ----------------------- or offer that is intended to or may which could result in a Change in Control, the Executive shallwill, at the Company’s or the Bank’s Board's request, assist the Company and/or the Bank Board in evaluating such proposal or offer. Further, subject to the additional terms and conditions of this Agreement, in order to receive the Salary Continuation Payment, Executive canspecifically agrees that he will not resign from the Company or his position with the Bank during any period from the receipt of a specific Change in Control proposal up to the consummation closing or abandonment termination of the transaction contemplated by such the proposal.

Appears in 1 contract

Samples: Executive Severance Agreement (Pacific Continental Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!