Common use of Severance/Employment Agreements Clause in Contracts

Severance/Employment Agreements. Purchaser will honor all of Company's obligations and assume all its defenses under existing severance, change of control or employment agreements to which the Company or any Company Subsidiary is a party and which are listed on Section 5.7.5 of the Company Disclosure Letter in accordance with the terms thereof.

Appears in 2 contracts

Samples: Merger Agreement (Macatawa Bank Corp), Merger Agreement (Wintrust Financial Corp)

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Severance/Employment Agreements. Purchaser will honor all of Company's obligations and assume all its defenses under existing severance, change of control or employment agreements to which the Company or any Company Subsidiary is a party and which are listed on Section 5.7.5 of the Company Disclosure Letter in accordance with the terms thereof. Purchaser will present to each individual subject to such severance, change of control or employment agreements a mutually acceptable Mutual Termination of Employment Agreement for execution on or before the Effective Time.

Appears in 1 contract

Samples: Merger Agreement (Chemical Financial Corp)

Severance/Employment Agreements. Purchaser will honor all of Company's obligations and assume all its defenses under existing severance, change of control or employment agreements to which the Company or any Company Subsidiary is a party and which are listed on Section 5.7.5 5.6.6 of the Company Disclosure Letter in accordance with the terms thereof, subject to the receipt of any required regulatory approvals.

Appears in 1 contract

Samples: Merger Agreement (Chemical Financial Corp)

Severance/Employment Agreements. Purchaser will honor all of Company's obligations and assume all its defenses under existing severance, change of control or employment agreements to which the Company or any Company Subsidiary is a party and which are listed on Section 5.7.5 5.8.5 of the Company Disclosure Letter in accordance with the terms thereof.

Appears in 1 contract

Samples: Merger Agreement (Choiceone Financial Services Inc)

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Severance/Employment Agreements. Purchaser will honor all of Company's ’s obligations and assume all its defenses under existing severance, change of control or employment agreements to which the Company or any Company Subsidiary is a party and which are listed on Section 5.7.5 of the Company Disclosure Letter in accordance with the terms thereof, subject to the receipt of any required regulatory approvals or regulatory guidance that Purchaser deems necessary or desirable in its reasonable discretion.

Appears in 1 contract

Samples: Merger Agreement (Monarch Community Bancorp Inc)

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