Compensation and Benefits Upon Termination. (a) If a Change in Control has occurred and during the Protection Period the Employee’s employment is terminated (i) by the Employer other than for Cause, Disability or death or (ii) by the Employee for Good Reason, the Employee shall be entitled to (and each of the Change Entity and all Related Entities shall be jointly liable for) the compensation and benefits provided in subparagraph (c) below. (b) The compensation described in subparagraphs (c)(i), (c)(ii) and (c)(iii) shall be paid by the Change Entity or the Employer (or jointly by them) to the Employee in a single lump sum cash payment on or before the fifth business day following the effective Date of Termination (or, if the Employee’s Date of Termination occurred prior to a Change in Control, on or before the fifth business day following the date of the Change in Control). The compensation and benefits described in subparagraphs (c)(iv), (c)(v), (c)(vi) and (c)(vii) will be paid as provided in those subparagraphs. (c) The compensation and benefits payable to an Employee pursuant to this paragraph 6 shall be as follows:
Appears in 4 contracts
Samples: Change in Control Termination Agreement (Firstmerit Corp /Oh/), Change in Control Termination Agreement (Firstmerit Corp /Oh/), Change in Control Termination Agreement (Firstmerit Corp /Oh/)
Compensation and Benefits Upon Termination. (a) If a Change in Control Displacement has occurred and during the Protection Period the Employee’s employment is terminated (i) by the Employer other than for Cause, Disability or death death, or (ii) by the Employee for Good Reason, the Employee shall be entitled to (and each of the Change Displacement Entity and all Related Entities shall be jointly liable for) the compensation and benefits provided in subparagraph (c) below.
(b) The compensation described in subparagraphs (c)(i), (c)(ii) and (c)(iii) shall be paid by the Change Displacement Entity or the Employer (or jointly by them) to the Employee in a single lump sum cash payment on or before the fifth business day following the effective Date of Termination (or, if the Employee’s Date of Termination occurred prior to a Change in Control, on or before the fifth business day following the date of the Change in Control)Termination. The compensation and benefits described in subparagraphs (c)(iv), (c)(v), (c)(vi) and (c)(vii) will be paid as provided in those subparagraphs.
(c) The compensation and benefits payable to an Employee pursuant to this paragraph 6 shall be as follows:
Appears in 3 contracts
Samples: Displacement Agreement (Firstmerit Corp /Oh/), Tier I Displacement Agreement (Firstmerit Corp /Oh/), Displacement Agreement (Firstmerit Corp /Oh/)
Compensation and Benefits Upon Termination. (a) If a Change in Control Displacement has occurred and during the Protection Period the Employee’s employment is terminated (i) by the Employer other than for Cause, Disability or death death, or (ii) by the Employee for Good Reason, the Employee shall be entitled to (and each of the Change Displacement Entity and all Related Entities shall be jointly liable for) the compensation and benefits provided in subparagraph (c) below.
(b) The compensation described in subparagraphs (c)(i), (c)(ii) and (c)(iii) shall be paid by the Change Displacement Entity or the Employer (or jointly by them) to the Employee in a single lump sum cash payment on or before the fifth business day following the effective Date of Termination (or, if the Employee’s Date of Termination occurred prior to a Change in Control, on or before the fifth business day following the date of the Change in Control)Termination. The compensation and benefits described in subparagraphs (c)(iv), (c)(v), (c)(vi) and (c)(vii) will be paid as provided in those subparagraphs.
(c) The compensation and benefits payable to an Employee pursuant to this paragraph Paragraph 6 shall be as follows:
Appears in 1 contract
Compensation and Benefits Upon Termination. (a) If a Change in Control has occurred and during the Protection Period the Employee’s employment is terminated (i) by the Employer other than for Cause, Disability or death or (ii) by the Employee for Good Reason, the Employee shall be entitled to (and each of the Change Entity and all Related Entities shall be jointly liable for) the compensation and benefits provided in subparagraph (c) below.
(b) The compensation described in subparagraphs (c)(i), (c)(ii) and (c)(iii) shall be paid by the Change Entity or the Employer (or jointly by them) to the Employee in a single lump sum cash payment on or before the fifth business day following the effective Date of Termination (or, if the Employee’s Date of Termination occurred prior to a Change in Control, on or before the fifth business day following the date of the Change in Control)Termination. The compensation and benefits described in subparagraphs (c)(iv), (c)(v), (c)(vi) and (c)(vii) will be paid as provided in those subparagraphs.
(c) The compensation and benefits payable to an Employee pursuant to this paragraph 6 shall be as follows:
Appears in 1 contract
Samples: Change in Control Termination Agreement (Firstmerit Corp /Oh/)
Compensation and Benefits Upon Termination. (a) If a Change in Control has occurred and during the Protection Period the Employee’s employment is terminated (i) by the Employer other than for Cause, Disability or death or (ii) by the Employee for Good Reason, the Employee shall be entitled to (and each of the Change Entity and all Related Entities shall be jointly liable for) the compensation and benefits provided in subparagraph (c) below.
(b) The compensation described in subparagraphs (c)(i), (c)(ii) and (c)(iii) shall be paid by the Change Entity or the Employer (or jointly by them) to the Employee in a single lump sum cash payment on or before the fifth business day following the effective Date of Termination (or, if the Employee’s Date of Termination occurred prior to a Change in Control, on or before the fifth business day following the date of the Change in Control)Termination. The compensation and benefits described in subparagraphs (c)(iv), (c)(v), (c)(vi) and (c)(vii) will be paid as provided in those subparagraphs.
(c) The compensation and benefits payable to an Employee pursuant to this paragraph Paragraph 6 shall be as follows:
Appears in 1 contract
Samples: Change in Control Termination Agreement (Firstmerit Corp /Oh/)