Retirement, etc. (a) If Executive retires after reaching age 65, or (b) if Executive becomes substantially or completely disabled other than as a result of reckless misconduct on his own part, or (c) if Executive dies on or after December 31, 2007, then he (or his estate, as the case may be,) shall be entitled to a lump-sum payment in an amount equal to one-half of the Change of Control Payment, such payment to be due upon completion of the Change of Control. However, if no Change of Control has occurred prior to January 1, 2017, then no payment shall be due under this section.
Appears in 9 contracts
Samples: Change of Control Agreement (Mid-America Bancshares, Inc.), Change of Control Agreement (Mid-America Bancshares, Inc.), Change of Control Agreement (Mid-America Bancshares, Inc.)
