Common use of Termination Following a Change of Control or Potential Change of Control Clause in Contracts

Termination Following a Change of Control or Potential Change of Control. This Section 6 shall apply (instead of Section 5) during the period commencing upon a Change of Control and continuing until the third anniversary thereof; provided that, in the event that Executive’s employment is terminated by the Company in a Termination Without Cause after the occurrence of a Potential Change of Control and a Change of Control occurs within one year following the date of such termination, then solely for purposes of this Agreement, Executive shall be deemed to have remained in the Company’s employ until the occurrence of the Change of Control and thereafter to have then been terminated by the Company in a Termination Without Cause. As a result, Executive shall be entitled to receive the excess of (i) the benefits payable in the event of a Termination Without Cause under this Section 6, over (ii) the amount of any benefits payable to Executive under Section 5.

Appears in 6 contracts

Samples: Employment Agreement (Hartford Financial Services Group Inc/De), Employment Agreement (Hartford Financial Services Group Inc/De), Employment Agreement (Hartford Financial Services Group Inc/De)

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Termination Following a Change of Control or Potential Change of Control. This Section 6 shall apply (instead of Section 5) during the period commencing upon a Change of Control and continuing until the third anniversary thereof; provided that, in the event that Executive’s 's employment is terminated by the -------------- Company in a Termination Without Cause after the occurrence of a Potential Change of Control and a Change of Control occurs within one year following the date of such termination, then solely for purposes of this Agreement, Executive shall be deemed to have remained in the Company’s 's employ until the occurrence of the Change of Control and thereafter to have then been terminated by the Company in a Termination Without Cause. As a result, Executive shall be entitled to receive the excess of (i) the benefits payable in the event of a Termination Without Cause under this Section 6, over (ii) the amount of any benefits payable to Executive under Section 5.

Appears in 4 contracts

Samples: Employment Agreement (Itt Hartford Group Inc /De), Employment Agreement (Hartford Financial Services Group Inc/De), Employment Agreement (Itt Hartford Group Inc /De)

Termination Following a Change of Control or Potential Change of Control. This Section 6 shall apply (instead of Section 5) during the period commencing upon a Change of Control and continuing until the third anniversary thereof; provided that, in the event that Executive’s 's employment is terminated by the Company in a Termination Without Cause after the occurrence of a Potential Change of Control and a Change of Control occurs within one year following the date of such termination, then solely for purposes of this Agreement, Executive shall be deemed to have remained in the Company’s 's employ until the occurrence of the Change of Control and thereafter to have then been terminated by the Company in a Termination Without Cause. As a result, Executive shall be entitled to receive the excess of (i) the benefits payable in the event of a Termination Without Cause under this Section 6, over (ii) the amount of any benefits payable to Executive under Section 5.

Appears in 1 contract

Samples: Employment Agreement (Hartford Financial Services Group Inc/De)

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Termination Following a Change of Control or Potential Change of Control. This Section 6 shall apply (instead of Section 5) during the period commencing upon a Change of Control and continuing until the third anniversary thereof; provided that, in the event that Executive’s 's employment is terminated by the -------- ---- Company in a Termination Without Cause after the occurrence of a Potential Change of Control and a Change of Control occurs within one year following the date of such termination, then solely for purposes of this Agreement, Executive shall be deemed to have remained in the Company’s 's employ until the occurrence of the Change of Control and thereafter to have then been terminated by the Company in a Termination Without Cause. As a result, Executive shall be entitled to receive the excess of (i) the benefits payable in the event of a Termination Without Cause under this Section 6, over (ii) the amount of any benefits payable to Executive under Section 5.

Appears in 1 contract

Samples: Employment Agreement (Hartford Financial Services Group Inc/De)

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