Common use of Compensation During Employment Period Clause in Contracts

Compensation During Employment Period. (a) During the period commencing one year prior to a Change of Control ("Commencement Date") and ending upon the earlier of (i) three years after a Change of Control or (ii) upon termination of employment of Executive for any reason by Executive or by Fidelity Southern or the Bank or any Affiliate ("Employment Period"), the Executive will receive an annual base salary ("Annual Base Salary"), at least equal to the greater of (i) the annual base salary payable to the Executive by Fidelity Southern, the Bank and/or Affiliates in respect of the twelve full calendar month period immediately preceding the Commencement Date or (ii) the annual base salary rate of the Executive payable on and after the Commencement Date and prior to the Change of Control. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time so as to be substantially consistent with increases in base salaries generally awarded in the ordinary course of business to other peer executives of Fidelity Southern, the Bank and Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary in effect on the Commencement Date will not be reduced thereafter nor shall any such increase during the Employment Period be reduced thereafter.

Appears in 2 contracts

Samples: Executive Continuity Agreement (Fidelity Southern Corp), Executive Continuity Agreement (Fidelity Southern Corp)

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Compensation During Employment Period. (a) During the period commencing one year prior to a Change of Control ("Commencement Date") and ending upon the earlier of (i) three years one year after a Change of Control or (ii) upon termination the Executive’s Termination of employment of Executive Employment for any reason by the Executive or by Fidelity Southern or the Bank or any Affiliate ("Employment Period"), the Executive will receive an annual base salary ("Annual Base Salary"), at least equal to the greater of (i) the highest annual base salary payable to the Executive by Fidelity Southern, the Bank and/or Affiliates in respect of the twelve full calendar month period immediately preceding the Commencement Date or (ii) the highest annual base salary rate of the Executive payable on and after the Commencement Date and prior to the Change of Control. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time so as to be substantially consistent with increases in base salaries generally awarded in the ordinary course of business to other peer executives of Fidelity Southern, the Bank and Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary in effect on the Commencement Date will not be reduced thereafter nor shall any such increase during the Employment Period be reduced thereafter.

Appears in 2 contracts

Samples: Executive Continuity Agreement (Fidelity Southern Corp), Executive Continuity Agreement (Fidelity Southern Corp)

Compensation During Employment Period. (a) During the period commencing one year prior to a Change of Control ("Commencement Date") and ending upon the earlier of (i) three years one year after a Change of Control or (ii) upon termination the Executive's Termination of employment of Executive Employment for any reason by the Executive or by Fidelity Southern or the Bank or any Affiliate ("Employment Period"), the Executive will receive an annual base salary ("Annual Base Salary"), at least equal to the greater of (i) the highest annual base salary payable to the Executive by Fidelity Southern, the Bank and/or Affiliates in respect of the twelve full calendar month period immediately preceding the Commencement Date or (ii) the highest annual base salary rate of the Executive payable on and after the Commencement Date and prior to the Change of Control. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time so as to be substantially consistent with increases in base salaries generally awarded in the ordinary course of business to other peer executives of Fidelity Southern, the Bank and Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary in effect on the Commencement Date will not be reduced thereafter nor shall any such increase during the Employment Period be reduced thereafter.

Appears in 2 contracts

Samples: Executive Continuity Agreement (Fidelity Southern Corp), Executive Continuity Agreement (Fidelity Southern Corp)

Compensation During Employment Period. (a) During the period commencing one year prior to a Change of Control ("Commencement Date") and ending upon the earlier of (i) three years after a Change of Control or (ii) upon termination the Executive's Termination of employment of Executive Employment for any reason by the Executive or by Fidelity Southern or the Bank or any Affiliate ("Employment Period"), the Executive will receive an annual base salary ("Annual Base Salary"), at least equal to the greater of (i) the highest annual base salary payable to the Executive by Fidelity Southern, the Bank and/or Affiliates in respect of the twelve full calendar month period immediately preceding the Commencement Date or (ii) the highest annual base salary rate of the Executive payable on and after the Commencement Date and prior to the Change of Control. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time so as to be substantially consistent with increases in base salaries generally awarded in the ordinary course of business to other peer executives of Fidelity Southern, the Bank and Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary in effect on the Commencement Date will not be reduced thereafter nor shall any such increase during the Employment Period be reduced thereafter.

Appears in 2 contracts

Samples: Executive Continuity Agreement (Fidelity Southern Corp), Executive Continuity Agreement (Fidelity Southern Corp)

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Compensation During Employment Period. (a) During the period commencing one year prior to a Change of Control ("Commencement Date") and ending upon the earlier of (i) three years one year after a Change of Control or (ii) upon termination of employment of Executive for any reason by Executive or by Fidelity Southern or the Bank or any Affiliate ("Employment Period"), the Executive will receive an annual base salary ("Annual Base Salary"), at least equal to the greater of (i) the annual base salary payable to the Executive by Fidelity Southern, the Bank and/or Affiliates in respect of the twelve full calendar month period immediately preceding the Commencement Date or (ii) the annual base salary rate of the Executive payable on and after the Commencement Date and prior to the Change of Control. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time so as to be substantially consistent with increases in base salaries generally awarded in the ordinary course of business to other peer executives of Fidelity Southern, the Bank and Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary in effect on the Commencement Date will not be reduced thereafter nor shall any such increase during the Employment Period be reduced thereafter.

Appears in 2 contracts

Samples: Executive Continuity Agreement (Fidelity Southern Corp), Executive Continuity Agreement (Fidelity Southern Corp)

Compensation During Employment Period. (a) During the period commencing one year six (6) months prior to a Change of in Control ("Commencement Date") and ending upon the earlier of (i) three years one year after a Change of in Control or (ii) upon termination of employment of Executive for any reason by Executive or by Fidelity Southern or the Bank or any Affiliate ("Employment Period"), the Executive will receive an annual base salary ("Annual Base Salary"), ') at least equal to the greater of (i) the annual base salary payable to the Executive by Fidelity Southern, the Bank and/or Affiliates in respect of the twelve full calendar month period immediately preceding the Commencement Date or (ii) the annual base salary rate of the Executive payable on and after the Commencement Date and immediately prior to the Change of in Control. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time so as to be substantially consistent with increases in base salaries generally awarded in the ordinary course of business to other peer executives of Fidelity Southern, the Bank and Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation of Fidelity to the Executive under this Agreement. The Annual Base Salary in effect on the Commencement Date will not be reduced thereafter nor shall any such increase during the Employment Period be reduced thereafter.

Appears in 1 contract

Samples: Executive Continuity Agreement (Fidelity Southern Corp)

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