Common use of Right to Severance Benefits Clause in Contracts

Right to Severance Benefits. The Executive shall be entitled to receive from PCFC Severance Benefits as described in Section 3.2 herein, if there has been a Change in Control of PCFC, as defined in Section 2.1(e) herein, and if, within twenty-four (24) months thereafter, the Executive voluntarily terminates employment or is involuntarily terminated without Just Cause with PCFC. An Executive shall not be entitled to receive Severance Benefits if the Executive's employment with PCFC or Bank of Hawaii ends due to an involuntary termination by PCFC for Just Cause, as provided under Article 4 herein.