Common use of Termination Related to Change in Control Clause in Contracts

Termination Related to Change in Control. In the event Executive’s employment with the Company is terminated (x) by the Company other than for Cause or Disability, and within six months before, or 24 months after, a Change in Control, or (y) by Executive with Good Reason and within 24 months after a Change in Control, then (z) the Term of Employment (if it has not already expired) will terminate automatically and the Company will have no further obligations to Executive under this Agreement except for (x) any payments and benefits described in Section 5(f) below, and (y) subject to the requirements of Section 5(i) below, the following payments and benefits: (i) If such termination occurs during the Term of Employment, the Company will promptly pay to Executive a cash severance amount equal to:

Appears in 6 contracts

Samples: Employment Agreement (Chimera Investment Corp), Employment Agreement (Chimera Investment Corp), Employment Agreement (Chimera Investment Corp)

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Termination Related to Change in Control. In the event Executive’s employment with the Company is terminated (x) by the Company other than for Cause or Disability, and within six months before, or 24 months after, a Change in Control, or (y) by Executive with Good Reason and within 24 months after a Change in Control, then (z) the Term of Employment (if it has not already expired) will terminate automatically and the Company will have no further obligations to Executive under this Agreement except for (x) any payments and benefits described in Section 5(f) below, and (y) subject to the requirements of Section 5(i) below, the following payments and benefits: (i) i. If such termination occurs during the Term of Employment, the Company will promptly pay to Executive a cash severance amount equal to:

Appears in 5 contracts

Samples: Employment Agreement (Chimera Investment Corp), Employment Agreement (Chimera Investment Corp), Employment Agreement (Chimera Investment Corp)

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