Common use of Termination After Change of Control Benefit Clause in Contracts

Termination After Change of Control Benefit. If within four (4) months before or twenty four (24) months and one (1) day after a Change of Control of the Company as defined in Section 12.01(a), the Company shall terminate the Executive's employment other than pursuant to Section 8.01(a), (b) or (c) hereof, or give notice under Section 1.02 of its intent not to renew without Cause, or if the Executive shall terminate his employment for Good Cause, then in any of such events, the Company shall pay to the Executive a benefit as defined in Section 12.01(b).

Appears in 3 contracts

Samples: Employment Agreement (Tower Financial Corp), Employment Agreement (Tower Financial Corp), Employment Agreement (Tower Financial Corp)

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Termination After Change of Control Benefit. If (i) within four (4) 12 months before or twenty four (24) months and one (1) day after a Change of Control of the Company as defined in Section 12.01(a)either Company, the either Company shall terminate the Executive's ’s employment other than pursuant to Section 8.01(a), (b5(a) or (c5(b) hereof, or give notice under Section 1.02 of its intent not to renew without Cause, hereof or if the Executive shall terminate his employment for Good CauseReason, or (ii) within thirty days after the expiration of 6 months after a Change of Control of either Company, the Executive shall terminate his employment with or without Good Reason, then in any of such events, the Company Companies shall pay to the Executive a benefit as defined in Section 12.01(b6(b).

Appears in 1 contract

Samples: Employment Agreement (Harbor Bankshares Corp)

Termination After Change of Control Benefit. If within four (4) months before or twenty four sixteen (2416) months and one (1) day after a Change of Control of the Company as defined in Section 12.01(a11.01(a), the Company shall terminate the Executive's employment other than pursuant to Section 8.01(a), (b) or (c) hereof, or give notice under Section 1.02 of its intent not to renew without Cause, hereof or if the Executive shall terminate his employment for Good Cause, then in any of such events, the Company shall pay to the Executive a benefit as defined in Section 12.01(b11.01(b).

Appears in 1 contract

Samples: Employment Agreement (Tower Financial Corp)

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Termination After Change of Control Benefit. If within four (4) 24 months before or twenty four (24) months and one (1) day after a Change of Control of the Company as defined in Section 12.01(a)Control, the Company shall terminate the Executive's employment other than pursuant to Section 8.01(a), (b5(a) or (c5(b) hereof, or give notice under Section 1.02 of its intent not to renew without Cause, hereof or if the Executive shall terminate his employment for Good CauseReason, then in any of such events, the Company shall pay to the Executive a benefit as defined in this Section 12.01(b6(b).

Appears in 1 contract

Samples: Employment Agreement (Hamilton Bancorp Inc)

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