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

Termination of Employment Following a Potential Change of Control. Notwithstanding Section l(a), if (i) the Employee's employment is terminated by the Company without Cause (as defined in Section 2) after the occurrence of a Potential Change of Control and prior to the occurrence of a Change of Control and (ii) a Change of Control occurs within one year of such termination, the Employee shall be deemed, solely for purposes of determining his rights under this Agreement, to have remained employed until the date such Change of Control occurs and to have been terminated by the Company without Cause immediately after this Agreement becomes effective.

Appears in 3 contracts

Samples: Key Employee Employment Protection Agreement (Allied Life Financial Corp), Key Employee Employment Protection Agreement (Allied Life Financial Corp), Key Employee Employment Protection Agreement (Allied Life Financial Corp)

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Termination of Employment Following a Potential Change of Control. Notwithstanding Section l(a1(a), if (i) the Employee's employment is terminated by - the Company without Cause (as defined in Section 2) after the occurrence of a Potential Change of Control and prior to the occurrence of a Change of Control and (ii) a Change of Control occurs within one year of such termination, the -- Employee shall be deemed, solely for purposes of determining his rights under this Agreement, to have remained employed until the date such Change of Control occurs and to have been terminated by the Company without Cause immediately after this Agreement becomes effective.

Appears in 1 contract

Samples: Severance Agreement (Allied Group Inc)

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Termination of Employment Following a Potential Change of Control. Notwithstanding Section l(a1(a), if (i) the EmployeeExecutive's employment is terminated by - the Company without Without Cause (as defined in Section 26(c)) after the occurrence of a Potential Change of Control and prior to the occurrence of a Change of Control and (ii) a -- Change of Control occurs within one year two years of such termination, the Employee Executive shall be deemed, solely for purposes of determining his his/her rights under this Agreement, to have remained employed until the date such Change of Control occurs and to have been terminated by the Company without Without Cause immediately after this Agreement becomes effective, with any amounts payable hereunder reduced by the amount of any other severance benefits provided to him in connection with such termination.

Appears in 1 contract

Samples: Employment Agreement (Hancock John Financial Services Inc)

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