Common use of Termination Without CHANGE OF CONTROL Clause in Contracts

Termination Without CHANGE OF CONTROL. In the event the EMPLOYER terminates the employment of the EMPLOYEE for any reason other than JUST CAUSE, and the termination is not in connection with a CHANGE OF CONTROL pursuant to Section 4(a) of this AGREEMENT, the EMPLOYER shall be obligated to continue to (i) pay on a monthly basis to the EMPLOYEE, his designated beneficiaries or his estate, his annual salary provided pursuant to Section 3(a) of this AGREEMENT as of the date of termination for a period of 12 months; and (ii) provide to the EMPLOYEE, his eligible dependents and beneficiaries, at the EMPLOYER's expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE at the date of termination of his employment, to the extent permitted under the terms of such plans, until the earliest to occur of (A) the first anniversary of the effective date of the EMPLOYEE's termination, or (B) the date the EMPLOYEE is included in another employer's plans providing comparable benefits and coverage.

Appears in 2 contracts

Samples: Employment Agreement (First Franklin Corp), Employment Agreement (First Franklin Corp)

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Termination Without CHANGE OF CONTROL. In the event the EMPLOYER terminates the employment of the EMPLOYEE for any reason other than JUST CAUSE, and the termination is not in connection with a CHANGE OF CONTROL pursuant to Section 4(a) of this AGREEMENT, the EMPLOYER shall be obligated to continue to (i) pay on a monthly basis to the EMPLOYEE, his designated beneficiaries or his estate, his annual salary provided pursuant to Section 3(a) of this AGREEMENT as of the date of termination for a period of 12 months; and (ii) provide to the EMPLOYEE, his eligible dependents and beneficiariesbenficiaries, at the EMPLOYER's ’s current percentage of total expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE at the date of termination of his employment, to the extent permitted under the terms of such plans, until the earliest to occur of (A) the first anniversary of the effective date of the EMPLOYEE's ’s termination, or (B) the date the EMPLOYEE is included in another employer's ’s plans providing comparable benefits and coverage.

Appears in 1 contract

Samples: Employment Agreement (First Franklin Corp)

Termination Without CHANGE OF CONTROL. (i) In the event that the EMPLOYER terminates the employment of the EMPLOYEE for any reason other than JUST CAUSE, and the termination is not in connection with a CHANGE OF CONTROL pursuant to Section 4(a) of this AGREEMENT, the EMPLOYER shall be obligated to continue to to: (iA) pay on a monthly basis to the EMPLOYEE, his designated beneficiaries or his estate, his annual salary provided pursuant to Section 3(a) of this AGREEMENT as of the date of termination for a period until the end of 12 monthsthe EMPLOYMENT TERM; and (iiB) provide to the EMPLOYEE, his eligible dependents and beneficiaries, at the EMPLOYER's ’s expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE at the date of termination of his employment, to the extent permitted under the terms of such plans, until the earliest to occur of (A1) the first anniversary of the effective date of the EMPLOYEE's ’s termination, or (B2) the date the EMPLOYEE EMPLOYER is included in another employer's ’s plans providing comparable benefits and coverage.

Appears in 1 contract

Samples: Employment Agreement (First Franklin Corp)

Termination Without CHANGE OF CONTROL. In the event the EMPLOYER terminates the employment of the EMPLOYEE for any reason other than JUST CAUSE, and the termination is not in connection with a CHANGE OF CONTROL pursuant to Section 4(a) of this AGREEMENT, the EMPLOYER shall be obligated to continue to (i) pay on a monthly basis to the EMPLOYEE, his designated beneficiaries or his estate, his annual salary provided pursuant to Section 3(a) of this AGREEMENT as of the date of termination for a period of 12 months; and (ii) provide to the EMPLOYEE, his eligible dependents and beneficiaries, at the EMPLOYER's current percentage of total expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE at the date of termination of his employment, to the extent permitted under the terms of such plans, until the earliest to occur of (A) the first anniversary of the effective date of the EMPLOYEE's termination, or (B) the date the EMPLOYEE is included in another employer's plans providing comparable benefits and coverage.

Appears in 1 contract

Samples: Employment Agreement (First Franklin Corp)

Termination Without CHANGE OF CONTROL. In the event that the EMPLOYER Employer terminates the employment of the EMPLOYEE Employee for any reason other than JUST CAUSEJust Cause, and the termination is not in connection with a CHANGE OF CONTROL Change of Control pursuant to Section 4(a) of this AGREEMENTAgreement, the EMPLOYER Employer shall be obligated to continue to (i) pay on a monthly basis to the EMPLOYEEEmployee, his designated beneficiaries or his estate, his annual salary provided pursuant to Section 3(a) of this AGREEMENT Agreement as of the date of termination for a period of 12 monthstwelve (12) months beginning on the date of the Employee’s termination; and (ii) provide to the EMPLOYEEEmployee, his eligible dependents and beneficiaries, at the EMPLOYER's Employer’s expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE Employee at the date of termination of his employment, to the extent permitted under the terms of such plans, until the earliest to occur of of: (A) the first anniversary of the effective date of the EMPLOYEE's Employee’s termination, or (B) the date the EMPLOYEE Employee is included in another employer's ’s plans providing comparable benefits and coverage.

Appears in 1 contract

Samples: Employment Agreement (First Franklin Corp)

Termination Without CHANGE OF CONTROL. In the event the EMPLOYER terminates the employment of the EMPLOYEE for any reason other than JUST CAUSE, and the termination is not in connection with a CHANGE OF CONTROL pursuant to Section 4(a) of this AGREEMENT, the EMPLOYER shall be obligated to continue to (i) pay on a monthly basis to the EMPLOYEE, his designated beneficiaries or his estate, his annual salary provided pursuant to Section 3(a) of this AGREEMENT as of the date of termination for a period until the end of 12 monthsthe EMPLOYMENT TERM; and (ii) provide to the EMPLOYEE, his eligible dependents and beneficiaries, at the EMPLOYER's expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE at the date of termination of his employment, to the extent permitted under the terms of such plans, until the earliest to occur of (A) the first anniversary of the effective date of the EMPLOYEE's termination, or (B) the date the EMPLOYEE is included in another employer's plans providing comparable benefits and coverage.

Appears in 1 contract

Samples: Employment Agreement (First Franklin Corp)

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Termination Without CHANGE OF CONTROL. In Subject to the provisions Section 4(c), in the event the EMPLOYER Employer terminates the employment of the EMPLOYEE Employee for any reason other than JUST CAUSEJust Cause, and the termination is not in connection with a CHANGE OF CONTROL Change of Control pursuant to Section 4(a) of this AGREEMENTAgreement, the EMPLOYER Employer shall be obligated to continue to (i) pay on no less than a monthly basis to the EMPLOYEE, his designated beneficiaries or his estate, Employee his annual salary provided pursuant to Section 3(a) of this AGREEMENT Agreement as of the date of termination for a period until the end of 12 monthsthe Employment Term; and (ii) provide to the EMPLOYEEEmployee, and his eligible dependents and beneficiariesdependents, at the EMPLOYER's Employer’s expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE Employee at the date of termination of his employment, to the extent permitted under the terms of such plans, until the earliest to occur of (A) the first anniversary of the effective date of the EMPLOYEE's Employee’s termination, or (B) the date the EMPLOYEE Employee is included in another employer's ’s plans providing comparable benefits and coverage.

Appears in 1 contract

Samples: Employment Agreement (CF Bancorp)

Termination Without CHANGE OF CONTROL. In the event the EMPLOYER terminates the employment of the EMPLOYEE for any reason other than JUST CAUSE, and the termination is not in connection with a CHANGE OF CONTROL pursuant to Section 4(a) of this AGREEMENT, the EMPLOYER shall be obligated to continue to (i) pay on a monthly basis to the EMPLOYEE, his her designated beneficiaries or his her estate, his her annual salary provided pursuant to Section 3(a) of this AGREEMENT as of the date of termination for a period of 12 months; and (ii) provide to the EMPLOYEE, his eligible dependents and beneficiariesbenficiaries, at the EMPLOYER's ’s current percentage of total expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE at the date of termination of his her employment, to the extent permitted under the terms of such plans, until the earliest to occur of (A) the first anniversary of the effective date of the EMPLOYEE's ’s termination, or (B) the date the EMPLOYEE is included in another employer's ’s plans providing comparable benefits and coverage.

Appears in 1 contract

Samples: Employment Agreement (First Franklin Corp)

Termination Without CHANGE OF CONTROL. In the event the EMPLOYER terminates the employment of the EMPLOYEE for any reason other than JUST CAUSE, and the termination is not in connection with a CHANGE OF CONTROL pursuant to Section 4(a) of this AGREEMENT, the EMPLOYER shall be obligated to continue to (i) pay on a monthly basis to the EMPLOYEE, his her designated beneficiaries or his her estate, his her annual salary provided pursuant to Section 3(a) of this AGREEMENT as of the date of termination for a period of 12 months; and (ii) provide to the EMPLOYEE, his her eligible dependents and beneficiaries, at the EMPLOYER's expense, group health benefits, hospitalization and disability benefits substantially equal to those being provided to the EMPLOYEE at the date of termination of his her employment, to the extent permitted under the terms of such plans, until the earliest to occur of (A) the first anniversary of the effective date of the EMPLOYEE's termination, or (B) the date the EMPLOYEE is included in another employer's plans providing comparable benefits and coverage.

Appears in 1 contract

Samples: Employment Agreement (First Franklin Corp)

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