Common use of Rights in Event of Certain Termination of Employment Before Change in Control Announcement Clause in Contracts

Rights in Event of Certain Termination of Employment Before Change in Control Announcement. (a) In the event that the Officer’s employment is terminated by the Bank without Cause during the Employment Period, before the occurrence of the announcement of a transaction involving an actual or potential Change in Control, the Officer shall be entitled to receive the amounts and benefits set forth in this Section 5:

Appears in 3 contracts

Samples: Agreement (Sovereign Bancorp Inc), Agreement (Sovereign Bancorp Inc), Agreement (Sovereign Bancorp Inc)

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Rights in Event of Certain Termination of Employment Before Change in Control Announcement. (a) In the event that the OfficerExecutive’s employment is terminated by the Bank SBI without Cause during the Employment Period, before the occurrence of the announcement of a transaction involving an actual or potential Change in Control, the Officer Executive shall be entitled to receive the amounts and benefits set forth in this Section 5:

Appears in 1 contract

Samples: Execution Copy Agreement (Sovereign Bancorp Inc)

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