Common use of Termination of Employment Prior to a Change in Control Clause in Contracts

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time prior to a Change in Control of the Company. In the event the Executive's employment is terminated prior to a Change in Control of the Company, this Agreement shall, except as provided in Subsection (b) below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease.

Appears in 7 contracts

Samples: Severance Agreement (Peoples Heritage Financial Group Inc), Severance Agreement (Banknorth Group Inc/Me), Severance Agreement (Banknorth Group Inc/Me)

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Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time If, prior to a Change in Control of the Company. In the event Control, the Executive's employment with the Company is terminated prior to a Change in Control of (x) by the Company, this Agreement Company other than for Cause or Disability or (y) by the Executive for any reason the Company shall, except as provided in Subsection (b) below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease.:

Appears in 6 contracts

Samples: Form of Severance Agreement (Affordable Residential Communities Inc), Form of Severance Agreement (Affordable Residential Communities Inc), Severance Agreement (Affordable Residential Communities Inc)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time prior to a Change in Control of the Company. In the event the Executive's employment is terminated prior to a Change in Control of the Company, this Agreement shall, except as provided in Subsection subsection (b) below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease.

Appears in 2 contracts

Samples: Severance Agreement (Banknorth Group Inc/Me), Severance Agreement (Banknorth Group Inc/Me)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time If, prior to a Change in Control of Control: (i) the Company. In the event Company shall terminate the Executive's employment, or (ii) the Executive shall terminate employment is terminated prior to a Change in Control of with the Company, this Agreement shalland such termination is not due to Executive's death or Disability, except as provided in Subsection (b) below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease.then:

Appears in 2 contracts

Samples: Executive Retention Agreement (Allegiant Bancorp Inc/Mo/), Executive Retention Agreement (Allegiant Bancorp Inc/Mo/)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time prior to a Change in Control of the Company. In the event the Executive's ’s employment is terminated prior to a Change in Control of the Company, this Agreement shall, except as provided in Subsection subsection (b) below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease.

Appears in 2 contracts

Samples: Severance Agreement (Banknorth Group Inc/Me), Severance Agreement (Banknorth Group Inc/Me)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time prior to a Change in Control of the Company, subject to the Employment Agreement. In the event the Executive's employment is terminated prior to a Change in Control of the Company, this Agreement shall, except as provided in Subsection (b) below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall ceasebe determined solely under the Employment Agreement.

Appears in 1 contract

Samples: Agreement (Peoples Heritage Financial Group Inc)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time prior to a Change in Control of the Company. In the event the Executive's employment is terminated prior to a Change in Control of the Company, this Agreement shall, except as provided in Subsection (b) below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease.terminate

Appears in 1 contract

Samples: Severance Agreement (Peoples Heritage Financial Group Inc)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive This Agreement shall each retain the right to automatically terminate the upon Executive's termination of employment of the Executive at for any time reason prior to the occurrence of a Change in Control of the Company. In the event the Executive's employment is terminated prior to a Change in Control of the Company, this Agreement shall, except as provided in Subsection (b) below, be terminated and of no further force and effectControl, and Executive shall not be entitled to any and all rights and obligations of the parties hereunder shall ceasepayments or benefits hereunder.

Appears in 1 contract

Samples: Control Agreement (Jacksonville Bancorp, Inc.)

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Termination of Employment Prior to a Change in Control. (a) The Company and the Executive This Agreement shall each retain the right to automatically terminate the upon Executive’s termination of employment of the Executive at for any time reason prior to the occurrence of a Change in Control of the Company. In the event the Executive's employment is terminated prior to a Change in Control of the Company, this Agreement shall, except as provided in Subsection (b) below, be terminated and of no further force and effectControl, and Executive shall not be entitled to any and all rights and obligations of the parties hereunder shall ceasepayments or benefits hereunder.

Appears in 1 contract

Samples: Control Agreement (Jacksonville Bancorp, Inc.)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time prior to a Change in Control of the Company. In the event the Executive's employment is terminated prior to a Change in Control of the Company, this Agreement shall, except as provided in Subsection (b) and Section 20 below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease.

Appears in 1 contract

Samples: Severance Agreement (Peoples Heritage Financial Group Inc)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time If, prior to a Change in Control of Control: (i) the Company. In the event Company shall terminate the Executive's employment, or (ii) the Executive shall terminate employment is terminated prior to a Change in Control of with the Company, this Agreement shall, except as provided in Subsection (b) below, be terminated and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease.then:

Appears in 1 contract

Samples: Executive Retention Agreement (Allegiant Bancorp Inc)

Termination of Employment Prior to a Change in Control. (a) The Company and the Executive shall each retain the right to terminate the employment of the Executive at any time prior to a Change in Control of the Company. In the event If the Executive's ’s employment is terminated prior to a Change in Control of the Companyfor any reason, this Agreement shall, except as provided in Subsection (b) below, be terminated and of no shall terminate without further force and effect, and any and all rights and obligations of to the parties hereunder shall ceaseExecutive.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Capital Bank Financial Corp.)

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