Common Contracts
2 similar Control Agreement contracts by Harleysville Group Inc
Michael L. Browne Harleysville Insurance Tel (215) 256-5013 Chief Executive Officer 355 Maple Avenue Fax (215) 256-5008 Harleysville, PA 19438-2297 mbrowne@harleysvillegroup.comControl Agreement • November 7th, 2011 • Harleysville Group Inc • Fire, marine & casualty insurance
Harleysville Group Inc. (“Employer”) considers the establishment and maintenance of a sound and vital management team essential to protecting and enhancing the best interests of it and its stockholders and those of its parent company, Harleysville Mutual Insurance Company (“Parent”) and the Parent’s policyholders. In this connection, the Employer recognizes that, as is the case with many publicly held corporations, the possibility of a change in control of the Employer exists and that such possibility and the uncertainty and questions which it may raise among management personnel as to the effect of such change in control on the Employer, may result in the departure or distraction of such personnel to the detriment of the Employer, the Parent, the Employer’s stockholders and the Parent’s policyholders. Accordingly, the Board of Directors of the Employer (“Board”) has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of t
FORM OF CHANGE IN CONTROL AGREEMENTControl Agreement • March 14th, 2005 • Harleysville Group Inc • Fire, marine & casualty insurance • Pennsylvania
The agreement contained below has the same form as separate agreements between the Company and certain of its officers except the following differences apply to the contract between the Company and (A) the Chief Executive Officer, in which: (1) the factor in Section 4(c)(ii)(b) is 2.999 instead of 2.000; and (2) the period in (i) the last proviso to Section 1, (ii) the lead-in paragraph to Section 3, (iii) the lead-in paragraph to Section 3(c), and (iv) Section 4 (c) (vii), is thirty-six (36) months instead of twenty-four months, (3) the Initial Expiration Date is December 31, 2009, instead of December 31, 2007, and (4) in Section 1, the date January 1, 2008 is January 1, 2010.; and (B) its Senior Vice Presidents for Field Operations and for Personal Lines, in which: (1) the factor in Section 4(c)(ii)(b) is 1.000 instead of 2.000; and (2) the period in (i) the last proviso to Section 1, (ii) the lead-in paragraph to Section 3, (iii) the lead-in paragraph to Section 3(c), and (iv) Secti
