Common use of Effect on LTI/STI Rights Clause in Contracts

Effect on LTI/STI Rights. With respect to any long-term, short-term or any similar incentive program cycle in effect at the time of a Change in Control: (a) Employee shall become fully and immediately vested in his incentive awards upon the occurrence of the Change in Control; and (b) subject to the requirements of section 409A of the Code, such incentive awards shall be paid at target levels and shall be paid to the Employee in a single lump sum payment between January 1 and March 15 of the calendar year following the end of the incentive program cycle for which the incentive award was earned, without regard to whether Employee remains employed by the Company and without regard to the performance of Employee during those incentive program cycles.

Effect on LTI/STI Rights. With respect to any long-term, short-term or any similar incentive program cycle in effect at the time of a Change in Control: (a) Employee shall become fully and immediately vested in his or her incentive awards upon the occurrence of the Change in Control; and (b) subject to the requirements of section 409A of the Code, such incentive awards shall be paid at target levels and shall be paid to the Employee in a single lump sum payment between January 1 and March 15 of the calendar year following the end of the incentive program cycle for which the incentive award was earned, without regard to whether Employee remains employed by the Company and without regard to the performance of Employee during those incentive program cycles.

Effect on LTI/STI Rights. With respect to any long-term, short-term or any similar incentive program cycle in effect at the time of a Change in Control: (a) Employee shall become fully and immediately vested in his incentive awards upon the occurrence of the Change in Control; and (b) subject to the requirements of section 409A of the Code, such incentive awards shall be paid payable at target levels and shall be paid to the Employee in a single lump sum payment between January 1 and March 15 of the calendar year following the end of the incentive program cycle for which the incentive award was earned, without regard to whether Employee remains employed by the Company Bank and without regard to the performance of Employee during those incentive program cycles.

Effect on LTI/STI Rights. With respect to any long-term, short-short- term or any similar incentive program cycle in effect at the time of a Change in Control: (a) Employee shall become fully and immediately vested in his incentive awards upon the occurrence of the Change in Control; and (b) subject to the requirements of section 409A of the Code, such incentive awards shall be paid payable at target levels and shall be paid to the Employee in a single lump sum payment between January 1 and March 15 of the calendar year following the end of the incentive program cycle for which the incentive award was earned, without regard to whether Employee remains employed by the Company Bank and without regard to the performance of Employee during those incentive program cycles.

Effect on LTI/STI Rights. With respect to any long-term, short-term or any similar incentive program cycle in effect at the time of a Change in Control: (a) Employee shall become fully and immediately vested in his incentive awards upon the occurrence of the Change in Control; and (b) subject to the requirements of section 409A of the Code, such incentive awards shall be paid payable at target levels and shall be paid to the Employee in a single lump sum payment between January 1 and March 15 of the calendar year following the end of the incentive program cycle for which the incentive award was earned, without regard to whether Employee remains employed by the Company and without regard to the performance of Employee during those incentive program cycles.