Common use of Payment Events Clause in Contracts

Payment Events. (a) Post-Change of Control Termination. A “Post-Change of Control Termination” shall be deemed to occur if (i) within the five-year period immediately following a Change of Control (as defined below), (A) your employment with the Company is terminated by the Company without Cause (as defined below) or (B) you terminate your employment with the Company because (1) there is a reduction, by the Company, in your compensation from that in effect immediately prior to such Change of Control or (2) you are required by the Company to relocate your principal place of employment with the Company to a location anywhere other than the Company’s principal executive offices in (or within 25 miles of) Mechanicsburg, Pennsylvania (except for required travel on the Company’s business in a manner that is substantially consistent with your business travel obligations immediately prior to such Change of Control) or (ii) within the six-month period immediately following a Change of Control, you terminate your employment with the Company for Good Reason (as defined below). (b) Pre-Change of Control Termination. A “Pre-Change of Control Termination” shall be deemed to occur if within the six-month period preceding a Change of Control, your employment is terminated by the Company other than for Cause, and you reasonably demonstrate that such termination of employment was at the request of a third party who has taken steps reasonably calculated to effect such Change of Control.”