Common use of Change in Control Provision Clause in Contracts

Change in Control Provision. Notwithstanding any Agreement provisions to the contrary, for a period of twelve (12) months following a Change in Control, in the event of a termination of Employee other than for Cause, or if the Employee resigns for “Good Reason” as that term is defined in Section 6(c) above, Employee shall be entitled to receive a sum equal to three times the Employee’s annualized Base Salary for the most recently completed calendar year, payable in a lump sum upon termination. At any point during the thirteenth month following a Change in Control, Employee shall be entitled to terminate the Agreement and receive a sum equal to the amount they would otherwise be entitled to pursuant to termination by PGIC other than for Cause at the time of such election. For the purposes of this Agreement, the following definitions shall apply:

Change in Control Provision. Notwithstanding any Agreement provisions to the contrary, for a period of twelve (12) months following a “Change in Control, ,” in the event of a termination of Employee other than for Cause, Cause or if the Employee resigns for “Good Reason” Reason as that term is defined in Section 6(c) 6.3 above, Employee shall be entitled to receive a sum equal to three two times the Employee’s annualized Base Salary for the most recently completed calendar year, payable in a lump sum upon termination. At any point during the thirteenth month following a Change in Control, Employee shall be entitled to terminate the Agreement and receive a sum equal to the amount they would otherwise be entitled to pursuant to termination by PGIC MIKOHN other than for Cause at the time of such election. For the purposes of this Agreement, the following definitions shall apply:

Change in Control Provision. Notwithstanding any Agreement provisions to the contrary, for a period of twelve (12) months following a Change in Control, in the event of a termination of Employee other than for Cause, or if the Employee resigns for “Good Reason” as that term is defined in Section 6(c) above, Employee shall be entitled to receive a sum equal to three times the Employee’s annualized Base Salary for the most recently completed calendar year, payable in a lump sum upon termination. At any point during the thirteenth month following a Change in Control, Employee shall be entitled to terminate the Agreement and receive a sum equal to the amount they would otherwise be entitled to pursuant to termination by PGIC MIKOHN other than for Cause at the time of such election. For the purposes of this Agreement, the following definitions shall apply:

Change in Control Provision. Notwithstanding any Agreement provisions to the contrary, for a period of twelve (12) months following a Change in Control, in the event of a termination of Employee other than for Cause, or if the Employee resigns for “Good Reason” as that term is defined in Section 6(c) above, Employee shall be entitled to receive a sum equal to three times the Employee’s annualized Base Salary for the most recently completed calendar year, year payable in a lump sum upon termination. At any point during the thirteenth month following a Change in Control, Employee shall be entitled to terminate the Agreement and receive a sum equal to the amount they would otherwise be entitled to pursuant to termination by PGIC MIKOHN other than for Cause at the time of such election. For the purposes of this Agreement, the following definitions shall apply: