Amount of Change in Control Payment. The Change in Control Payment shall be a lump sum payment equal to 2.99 times the Employee’s annual salary as of the effective date of the Change in Control.
Appears in 2 contracts
Sources: Change of Control Agreement (Exchange Bancshares Inc), Change of Control Agreement (Exchange Bancshares Inc)
Amount of Change in Control Payment. The Change in Control Payment shall be a lump sum payment equal to 2.99 times the greater of (i) the Employee’s 's annual salary as of the effective date of the Change in ControlControl or (ii) $120,000.
Appears in 1 contract
Sources: Change in Control Agreement (Exchange Bancshares Inc)
Amount of Change in Control Payment. The Change in Control Payment shall be a lump sum payment equal to 2.99 times the Employee’s 's annual salary as of the effective date of the Change in Control.
Appears in 1 contract
Sources: Change in Control Agreement (Exchange Bancshares Inc)