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

Termination of Employment Following Change in Control. Employee shall be entitled to the benefits provided in this Section 6 if a Change in Control occurs anytime after the date of this Agreement and Employee’s employment with Employer is terminated (i) under any of the circumstances in Sections 1(a) or 1(b) within a period of two years after the occurrence of such Change in Control, or (ii) for any reason, either voluntarily or involuntarily, during the 30-day period beginning on the first anniversary of such Change of Control, unless such termination is because of Employee’s death, Disability or Retirement. The term “Retirement” shall mean termination of employment in accordance with (x) a qualified employee pension or profit-sharing plan maintained by Employer, or (y) Employer’s retirement policy in effect immediately prior to the Change in Control. For purposes of this Section 6, Employee’s employment shall be terminated by written notice delivered by either Employer or Employee to the other party. The date of Employee’s termination of employment shall be the earlier of the date of Employee’s or Employer’s written notice terminating Employee’s employment with Employer, unless such notice shall specify an effective date of termination occurring later than the date of such notice, in which event such specified effective date shall govern (“Termination Date”).

Appears in 2 contracts

Samples: Severance Agreement (Federal Realty Investment Trust), Severance Agreement (Federal Realty Investment Trust)

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Termination of Employment Following Change in Control. Employee shall be entitled to the benefits provided in this Section 6 if a Change in Control occurs anytime after the date of this Agreement and Employee’s employment with Employer is terminated (i) under any of the circumstances in Sections 1(a) or 1(b) within a period of two years after the occurrence of such Change in Control, or (ii) for any reason, either voluntarily or involuntarily, during the 30-day period beginning on the first anniversary of such Change of Control, unless such termination is because of Employee’s death, Disability or Retirement. The term “Retirement” shall mean termination of employment in accordance with (x) a qualified employee pension or profit-sharing plan maintained by Employer, or (y) Employer’s retirement policy in effect immediately prior to the Change in Control. For purposes of this Section 6, Employee’s employment shall be terminated by written notice delivered by either Employer or Employee to the other party. The date of Employee’s termination of employment shall be the earlier of the date of Employee’s or Employer’s written notice terminating Employee’s employment with Employer, unless such notice shall specify an effective date of termination occurring later than the date of such notice, in which event such specified effective date shall govern (“Termination Date”).

Appears in 2 contracts

Samples: Severance Agreement (Federal Realty Investment Trust), Severance Agreement (Federal Realty Investment Trust)

Termination of Employment Following Change in Control. If a Change in Control of Employer occurs, Employee shall be entitled to the benefits provided in this Section 6 if a Change in Control occurs anytime after upon the date subsequent termination of this Agreement and Employee’s 's employment with Employer is terminated (i) under any of the circumstances in Sections 1(a) or 1(b) within a period of two years after the occurrence of such Change in Control, or (ii) for any reason, either voluntarily or involuntarily, during the 30-day period beginning on the first anniversary within six (6) months of such Change of Control, unless such termination is because of Employee’s 's death, Disability or Retirementretirement. The term "Retirement" shall mean termination of employment in accordance with (x) a qualified employee pension or profit-sharing plan maintained by Employer, or (y) Employer’s 's retirement policy in effect immediately prior to the Change in Control. For purposes of this Section 6, Employee’s 's employment shall be terminated by written notice delivered by either Employer or Employee to the other party. The date of Employee’s 's termination of employment shall be the earlier of the date of Employee’s 's or Employer’s 's written notice terminating Employee’s 's employment with Employer, unless such notice shall specify an effective date of termination occurring later than the date of such notice, in which event such specified effective date shall govern ("Termination Date").

Appears in 1 contract

Samples: Severance Agreement (Federal Realty Investment Trust)

Termination of Employment Following Change in Control. Employee shall be entitled to the benefits provided in this Section 6 7 if a Change in Control occurs anytime after the date of this Agreement and Employee’s employment with Employer is terminated (i) under any of the circumstances in Sections 1(a2(a) or 1(b2(b) within a period of two years after the occurrence of such Change in Control, or (ii) for any reason, either voluntarily or involuntarily, during the 30-day period beginning on the first anniversary of such Change of Control, unless such termination is because of Employee’s death, Disability or Retirement. The term “Retirement” shall mean termination of employment in accordance with (x) a qualified employee pension or profit-sharing plan maintained by Employer, or (y) Employer’s retirement policy in effect immediately prior to the Change in Control. For purposes of this Section 6, Employee’s employment shall be terminated by written notice delivered by either Employer or Employee to the other party. The date of Employee’s termination of employment shall be the earlier of the date of Employee’s or Employer’s written notice terminating Employee’s employment with Employer, unless such notice shall specify an effective date of termination occurring later than the date of such notice, in which event such specified effective date shall govern (“Termination Date”).

Appears in 1 contract

Samples: Severance Agreement (Federal Realty Investment Trust)

Termination of Employment Following Change in Control. If a Change in Control of Employer occurs, Employee shall be entitled to the benefits provided in this Section 6 if a Change in Control occurs anytime after 7 upon the date subsequent termination of this Agreement and Employee’s 's employment with Employer is terminated (i) under any of the circumstances in Sections 1(a) or 1(b) within a period of two years after the occurrence of such Change in Control, or (ii) for any reason, either voluntarily or involuntarily, during the 30-day period beginning on the first anniversary within six (6) months of such Change of Control, unless such termination is because of Employee’s 's death, Disability or Retirementretirement. The term "Retirement" shall mean termination of employment in accordance with (x) a qualified employee pension or profit-sharing plan maintained by Employer, or (y) Employer’s 's retirement policy in effect immediately prior to the Change in Control. For purposes of this Section 67, Employee’s 's employment shall be terminated by written notice delivered by either Employer or Employee to the other party. The date of Employee’s 's termination of employment shall be the earlier of the date of Employee’s 's or Employer’s 's written notice terminating Employee’s 's employment with Employer, unless such notice shall specify an effective date of termination occurring later than the date of such notice, in which event such specified effective date shall govern ("Termination Date").

Appears in 1 contract

Samples: Restricted Share Award Agreement (Federal Realty Investment Trust)

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Termination of Employment Following Change in Control. If a ----------------------------------------------------- Change in Control of Employer occurs, Employee shall be entitled to the benefits provided in this Section 6 if a Change in Control occurs anytime after 8 upon the date subsequent termination of this Agreement and Employee’s 's employment with Employer is terminated (i) under any of the circumstances in Sections 1(a) or 1(b) within a period of two years after the occurrence of such Change in Control, or (ii) for any reason, either voluntarily or involuntarily, during the 30-day period beginning on the first anniversary within six (6) months of such Change of Control, unless such termination is because of Employee’s 's death, Disability or Retirementretirement. The term "Retirement" shall mean termination of employment in accordance with (x) a qualified employee pension or profit-sharing plan maintained by Employer, or (y) Employer’s 's retirement policy in effect immediately prior to the Change in Control. For purposes of this Section 68, Employee’s 's employment shall be terminated by written notice delivered by either Employer or Employee to the other party. The date of Employee’s 's termination of employment shall be the earlier of the date of Employee’s 's or Employer’s 's written notice terminating Employee’s 's employment with Employer, unless such notice shall specify an effective date of termination occurring later than the date of such notice, in which event such specified effective date shall govern ("Termination Date").

Appears in 1 contract

Samples: Severance Agreement (Federal Realty Investment Trust)

Termination of Employment Following Change in Control. Employee shall be entitled to the benefits provided in this Section 6 if a Change in Control occurs anytime after the date and Employee incurs a Separation of this Agreement and Employee’s employment with Employer is terminated Service (i) under any of the circumstances in Sections 1(a) or 1(b) within a period of two years after the occurrence of such Change in Control, or (ii) for any reason, either voluntarily or involuntarily, during the 30-day period beginning on the first anniversary of such Change of Control, unless such termination is because of Employee’s 's death, Disability or Retirement. The term “Retirement” shall mean termination of employment in accordance with (x) a qualified employee pension or profit-sharing plan maintained by Employer, or (y) Employer’s 's retirement policy in effect immediately prior to the Change in Control. For purposes of this Section 6, Employee’s employment 's Separation from Service shall be terminated occur by written notice delivered by either Employer or Employee to the other party. The date of Employee’s termination of employment 's Separation from Service shall be the earlier of the date of Employee’s 's or Employer’s 's written notice terminating Employee’s 's employment with Employer, unless such notice shall specify an effective date of termination occurring later than the date of such notice, in which event such specified effective date shall govern (“Termination Date”)govern.

Appears in 1 contract

Samples: Severance Agreement (Federal Realty Investment Trust)

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