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

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b) of this Agreement) shall occur, then, at the option of Executive, exercisable by Executive within three hundred sixty five (365) days of the Change in Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice of intention to collect benefits under this Agreement) by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 of this Agreement shall apply. (b) As used in this Agreement, "Change in Control" shall mean the occurrence of any of the following:

Appears in 5 contracts

Samples: Employment Agreement (Sterling Financial Corp /Pa/), Employment Agreement (Sterling Financial Corp /Pa/), Employment Agreement (Sterling Financial Corp /Pa/)

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Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this the Agreement) shall occur, then, at occur and Executive’s employment is terminated by the option of Executive, exercisable Bank without Cause or by the Executive for Good Reason within three hundred sixty five (365) days two years of the Change in Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice shall be entitled to the benefits provided in Section 7 of intention to collect benefits under this Agreement) by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 of this Agreement shall apply.. ​ (b) As used in this Agreement, "Change in Control" shall mean the occurrence of any of the following:mean: ​

Appears in 1 contract

Samples: Employment Agreement (Meridian Corp)

Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b) of this Agreement) shall occur, then, at the option of Executive, exercisable by Executive within three hundred sixty five (365) days of the Change in Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice by delivering a written “Notice of intention Intention to collect benefits Collect Benefits” under this Agreement) by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 of this Agreement shall apply. (b) As used in this Agreement, "Change in Control" shall mean the occurrence of any of the following:

Appears in 1 contract

Samples: Employment Agreement (Sterling Financial Corp /Pa/)

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Termination of Employment Following Change in Control. (a) If a Change in Control (as defined in Section 5(b6(b) of this Agreement) shall occuroccur and if, within twelve (12) months following the Change in Control (as defined in Section 6(b) of this Agreement), Executive's employment is involuntarily terminated (other than for the Cause as defined in Section 4(b) of this Agreement), then, at the option of Executive, exercisable by Executive within three hundred sixty five (365) days of the Change in Control, Executive may resign from employment with Corporation and Bank (or, if involuntarily terminated, give notice of intention to collect benefits under this Agreement) , by delivering a notice in writing (the "Notice of Termination") to Corporation and Bank and the provisions of Section 6 7 of this Agreement shall apply. (b) As used in this Agreement, "Change in Control" shall mean the occurrence of any of the following:

Appears in 1 contract

Samples: Employment Agreement (Sun Bancorp Inc)

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