Common use of PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL Clause in Contracts

PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL. Following a Change in Control and within the Protected Period, if either (i) Employer terminates Employee’s employment without “just cause;” or (ii) Employee terminates his own employment because Employee has not been offered employment at a comparable salary and position, Employee shall be entitled to receive the termination benefits described in Section 4 hereof.

Appears in 4 contracts

Samples: Change in Control Agreement (Bancshares of Florida Inc), Change in Control Agreement (Bank of Florida Corp), Change in Control Agreement (Bancshares of Florida Inc)

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PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL. Following a Change in Control and within the Protected Period, if either either: (i) Employer terminates Employee’s employment without “just cause;” or (ii) Employee terminates his own employment because Employee has not been offered employment at a comparable salary and positionfor any reason, Employee shall be entitled to receive the termination benefits described in Section 4 hereof4.

Appears in 4 contracts

Samples: Employee Severance Agreement (Federal Trust Corp), Employee Severance Agreement (Federal Trust Corp), Employee Severance Agreement (Federal Trust Corp)

PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL. Following In the event of a Change in Control and within the Protected Period, if either (i) Employer terminates Employee’s employment without “just cause;” Just Cause, or (ii) Employee terminates his own employment because Employee has not been offered employment at a comparable salary and positionfor any reason, whether such termination occurs prior to or after the Change of Control, Employee shall be entitled to receive the termination benefits described in Section 4 hereof4. This Section 3 shall survive termination of this Agreement for the Protected Period.

Appears in 4 contracts

Samples: Employee Severance Agreement (Federal Trust Corp), Employee Severance Agreement (Federal Trust Corp), Employee Severance Agreement (Federal Trust Corp)

PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL. Following a Change in Control and within the Protected Period, if either (i) If Employer terminates Employee’s employment without “just cause;,or (ii) Employee terminates his own employment because Employee has not been offered employment at a comparable salary and position, Employee shall be entitled to receive the termination benefits described in Section 4 hereof, if a Change in Control has occurred within the Protected Period. Employee shall also be entitled to receive such termination benefits described in Section 4 herein, if within 90 days of a Change in Control Employee elects to terminate her employment.

Appears in 3 contracts

Samples: Change in Control Agreement (FPB Bancorp Inc), Change in Control Agreement (FPB Bancorp Inc), Change in Control Agreement (FPB Bancorp Inc)

PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL. Following a Change in Control and within the Protected Period, if either either: (i) Employer terminates Employee’s employment without “just cause;” or (ii) Employee terminates his own employment because Employee has not been offered employment at a comparable salary and positionfor any reason, Employee shall be entitled to receive the termination benefits described in Section 4 hereof.

Appears in 2 contracts

Samples: Employee Severance Agreement (Bancshares of Florida Inc), Employee Severance Agreement (Bancshares of Florida Inc)

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PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL. Following a Change in Control and within the Protected Period, if either either: (i) Employer terminates Employee’s employment without “just cause;” or (ii) Employee terminates his her own employment because Employee has not been offered employment at a comparable salary and positionfor any reason, Employee shall be entitled to receive the termination benefits described in Section 4 hereof4.

Appears in 2 contracts

Samples: Employee Severance Agreement (Federal Trust Corp), Employee Severance Agreement (Federal Trust Corp)

PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL. Following a Change in Control and within the Protected Period, if either either: (i) Employer terminates Employee’s employment without “just cause;” or (ii) Employee terminates his own employment because Employee has not been offered employment at a comparable salary and positionfor any reason, Employee shall be entitled to receive the termination benefits described in Section 4 hereof4.

Appears in 1 contract

Samples: Employee Severance Agreement (Federal Trust Corp)

PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL. Following a Change in Control and within the Protected Period, if either (i) Employer terminates Employee’s employment without “just cause;” or (ii) Employee terminates his own employment because Employee has not been offered employment at a comparable salary and positionfor any reason, Employee shall be entitled to receive the termination benefits described in Section 4 hereof.

Appears in 1 contract

Samples: Change in Control Agreement (Bancshares of Florida Inc)

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