Common use of PAYMENTS UPON A CHANGE IN CONTROL Clause in Contracts

PAYMENTS UPON A CHANGE IN CONTROL. (a) If during the term of this Agreement there is a change in control of the Bank or the Holding Company and within 12 months following such change in control there is a voluntary or an involuntary termination of the Employee’s employment with the Bank, whether or not such termination occurs during the term of this Agreement, the Bank shall pay to the Employee in a lump sum in cash within 31 business days after the termination of employment an amount equal to 300 percent of the Employee’s “base amount” of compensation, as defined in Section 280G(b)(3) of the Internal Revenue Code of 1986, as amended (“Code”).

PAYMENTS UPON A CHANGE IN CONTROL. (a) If during the term of this Agreement there is a change in control of the Bank or the Holding Company and within 12 months following such change in control there is a voluntary or an involuntary termination of the Employee’s employment with the Bank, other than for cause, whether or not such termination occurs during the term of this Agreement, the Bank shall pay to the Employee in a lump sum in cash within 31 25 business days after the termination date of severance of employment an amount equal to 300 100 percent of the Employee’s “base amount” of compensation, as defined in Section 280G(b)(3) of the Internal Revenue Code of 1986, as amended (“Code”).

PAYMENTS UPON A CHANGE IN CONTROL. (a) If during the term of this Agreement there is a change in control of the Bank or the Holding Company Company, and within 12 months following such change in control there is a voluntary or an involuntary termination of the Employee’s 's employment with the Bank, other than for cause, whether or not such termination occurs during the term of this Agreement, the Bank shall pay to the Employee in a lump sum in cash within 31 25 business days after the termination date of severance of employment an amount equal to 300 100 percent of the Employee’s “'s "base amount” " of compensation, as defined in Section 280G(b)(3) of the Internal Revenue Code of 1986, as amended (“"Code”").

PAYMENTS UPON A CHANGE IN CONTROL. (a) If during the term of this Agreement there is a change in control of the Bank or the Holding Company Company, and within 12 months following such change in control there is a voluntary or an involuntary termination of the Employee’s 's employment with the Bank, whether or not such termination occurs during the term of this Agreement, the Bank shall pay to the Employee in a lump sum in cash within 31 25 business days after the termination date of severance of employment an amount equal to 300 100 percent of the Employee’s “'s "base amount” " of compensation, as defined in Section 280G(b)(3) of the Internal Revenue Code of 1986, as amended (“"Code”").