Common use of Involuntary Termination/ Change in Control Clause in Contracts

Involuntary Termination/ Change in Control. In the case of involuntary termination of the Employee, resulting from a Change in Control of the Company, and due to one or more of the following conditions being met up to one year following such Change in Control: a. Elimination or diminution of the Employee’s position, authority, duties and responsibilities relative to the most significant of those held, exercised and assigned at any time during the six month period immediately preceding a Change in Control; b. Change in location requiring the Employee’s services to be performed at a location other than the location where the Employee was employed immediately preceding a Change in Control, other than any office which is the headquarters of the Company and is less than 35 miles from such location. The Employee will receive written notice of involuntary termination and will be paid compensation in terminal pay, annual bonus, and participation in benefits, savings and retirement plans as summarized below.

Involuntary Termination/ Change in Control. In the case of involuntary termination of the Employee, resulting from a Change in Control of the Company, and due to one or more of the following conditions being met up to one year following such Change in Control: a. Elimination or diminution of the Employee’s position, authority, duties and responsibilities relative to the most significant of those held, exercised and assigned at any time during the six month period immediately preceding a Change in Control; b. Change in location requiring the Employee’s services to be performed at a location other than the location where the Employee was employed immediately preceding a Change in Control, other than any office which is the headquarters of the Company and is less than 35 miles from such location. The Employee will receive written notice of involuntary termination and will be paid compensation in terminal pay, annual bonus, pay and participation in benefits, savings and retirement plans as summarized below.

Involuntary Termination/ Change in Control. In the case of involuntary termination of the Employee, resulting from a Change in Control of the Company, and due to one or more of the following conditions being met up to one year following such Change in Control: a. Elimination or diminution of the Employee’s position, authority, duties and responsibilities relative to the most significant of those held, exercised and assigned at any time during the six month period immediately preceding a Change in Control; b. Change in location requiring the Employee’s services to be performed at a location other than the location where the Employee was employed immediately preceding a Change in Control, other than any office which is the headquarters of the Company and is less than that 35 miles from such location. The Employee will receive written notice of involuntary termination and will be paid compensation in terminal pay, annual bonus, and participation in benefits, savings and retirement plans plan as summarized below.