Common use of Compensated Termination Clause in Contracts

Compensated Termination. If the Executive incurs a Compensated Termination while the Executive is employed by the Bank or within twenty-four (24) months after the effective date of a Reorganization of the Bank (whether the Executive is then employed by the Bank or a successor to the Bank as a result of such Reorganization), the Executive shall be entitled to the benefits provided in Section 4(a). For purposes of this Agreement, a “Compensated Termination” means termination of the Executive’s employment under either of the following circumstances: (i) By the Executive for Good Reason; or (ii) By the Bank, or by its successor in a Reorganization, without Cause at any time during the period (1) beginning with the earliest to occur of the following three dates, as applicable (A) twelve (12) months prior to the execution of a definitive agreement regarding a Reorganization, or (B) if a Reorganization has been mandated by federal statute, rule, regulation or directive, twelve (12) months prior to the effective date of such Reorganization, or (C) twelve (12) months prior to the adoption of a plan or proposal for the liquidation or dissolution of the Bank, and (2) ending twenty-four (24) months after the effective date of such Reorganization.

Compensated Termination. If the Executive incurs a Compensated Termination while the Executive is employed by the Bank or within twenty-four (24) months after the effective date of a Reorganization Change in Control of the Bank (whether the Executive is then employed by the Bank or by its successor in a successor to the Bank as a result of such ReorganizationChange in Control), the Executive shall be entitled to the benefits provided in Section 4(a). For purposes of this Agreement, a “Compensated Termination” means termination of the Executive’s 's employment under either of the following circumstances:: ​ (i) By the Executive for Good Reason; oror ​ (ii) By the Bank, Bank (or by its successor in a Reorganization, Change in Control) without Cause at any time during the period -- (1) beginning with the earliest to occur of the following three dates, as applicable applicable: ​ ​ ​ FEDERAL HOME LOAN BANK OF NEW YORK 4 ​ (A) twelve (12) months prior to the execution of a definitive agreement regarding a ReorganizationChange in Control, or or (B) if a Reorganization Change in Control has been mandated by federal statute, rule, regulation or directive, twelve (12) months prior to the effective date of such ReorganizationChange in Control, or (C) twelve (12) months prior to the adoption of a plan or proposal for the liquidation or dissolution of the Bank, and and (2) ending twenty-four (24) months after the effective date of such Reorganization.Change in Control. ​

Compensated Termination. If the Executive incurs a Compensated Termination while the Executive is employed by the Bank or within twenty-four (24) months after the effective date of a Reorganization of the Bank (whether the Executive is then employed by the Bank or a successor to the Bank as a result of such Reorganization), the Executive shall be entitled to the benefits provided in Section 4(a). For purposes of this Agreement, a “Compensated Termination” means termination of the Executive’s employment under either of the following circumstances: (i) By the Executive for Good Reason; or (ii) By the Bank, or by its successor in a Reorganization, without Cause at any time during the period (1) beginning with the earliest to occur of the following three dates, as applicable (A) twelve (12) months prior to the execution of a definitive agreement regarding a Reorganization, or (B) if a Reorganization has been mandated by federal statute, rule, regulation or directive, twelve (12120) months prior to the effective date of such Reorganization, or (C) twelve (12) months prior to the adoption of a plan or proposal for the liquidation or dissolution of the Bank, and (2) ending twenty-four (24) months after the effective date of such Reorganization.

Compensated Termination. If the Executive incurs a Compensated Termination while the Executive is employed by the Bank or within twenty-four (24) months after the effective date of a Reorganization Change in Control of the Bank (whether the Executive is then employed by the Bank or by its successor in a successor to the Bank as a result of such ReorganizationChange in Control), the Executive shall be entitled to the benefits provided in in Section 4(a). ) For purposes of this Agreement, a “Compensated Termination” means termination of the Executive’s employment under either of the following circumstances: (i) By the Executive for Good Reason; or (ii) By the Bank, Bank (or by its successor in a Reorganization, Change in Control) without Cause at any time during the period — (1) beginning with the earliest to occur of the following three dates, as applicable applicable: (A) twelve (12) months prior to the execution of a definitive agreement regarding a ReorganizationChange in Control, or or (B) if a Reorganization Change in Control has been mandated by federal statute, rule, regulation or directive, twelve (12) months prior to the effective date of such ReorganizationChange in Control, or or (C) twelve (12) months prior to the adoption of a plan or proposal for the liquidation or dissolution of the Bank, and and (2) ending twenty-four (24) months after the effective date of such ReorganizationChange in Control.