TERMINATION OF EMPLOYMENT DUE TO A CHANGE IN CONTROL. A. In the event there is a Change in Control of OFG (as defined herein below) while this Agreement is in effect and as a result thereof or within one (1) year after the Change in Control, the Executive Officer's employment with OFG is terminated by OFG or its successor in interest, the Executive Officer shall be entitled to the cash payment compensation determined as provided in subparagraph B below.
Appears in 8 contracts
Samples: Control Compensation Agreement (Oriental Financial Group Inc), Control Compensation Agreement (Oriental Financial Group Inc), Control Compensation Agreement (Oriental Financial Group Inc)
TERMINATION OF EMPLOYMENT DUE TO A CHANGE IN CONTROL. A. In the event there is a Change in Control of OFG (as defined herein below) while this Agreement is in effect and as a result thereof or within one (1) year after the Change in Control, the Executive Officer's ’s employment with OFG is terminated by OFG or its successor in interest, the Executive Officer shall be entitled to the cash payment compensation determined as provided in subparagraph B below.
Appears in 5 contracts
Samples: Control Compensation Agreement (Ofg Bancorp), Control Compensation Agreement (Oriental Financial Group Inc), Control Compensation Agreement (Oriental Financial Group Inc)
TERMINATION OF EMPLOYMENT DUE TO A CHANGE IN CONTROL. A. In the event there is a Change in Control of OFG ofOFG (as defined herein below) while this Agreement is in effect and as a result thereof or within one (1) year after the Change in Control, the Executive Officer's employment with OFG is terminated by OFG or its successor in interest, the Executive Officer shall be entitled to the cash payment compensation determined as provided in subparagraph B below.
Appears in 1 contract
Samples: Control Compensation Agreement (Oriental Financial Group Inc)
