Common use of Termination Without Cause Prior to a Change in Control Clause in Contracts

Termination Without Cause Prior to a Change in Control. If, prior to a Change in Control, during the Term of this Agreement the Company shall terminate the Executive's employment without Cause, then on the tenth (10th) business day following the Date of Termination, the Company shall pay to the Executive the sum of (1) the Executive's Annual Base Salary prorated through the Date of Termination to the extent not previously paid, and (2) any accrued vacation pay to the extent not previously paid.

Appears in 13 contracts

Samples: Magna Group (Magna Group Inc), Magna Group (Magna Group Inc), Magna Group (Magna Group Inc)

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