Change in Control Severance Plan Sample Clauses

Change in Control Severance Plan. The Executive has been designated by the UIL Board as an individual covered by the UIL Holdings Corporation Change in Control Severance Plan II (the "UIL CIC Plan II"), subject to all of the terms and provisions of the UIL CIC Plan II as it may be amended from time to time. For purposes of this Agreement, "Change in Control" shall have the meaning set forth in the UIL CIC Plan II. Nothing in this subsection, however, shall entitle the Executive to continued participation in such Plan should the UIL Board determine otherwise in accordance with the terms of that Plan.

Change in Control Severance Plan. The Executive shall be designated by the UIL Board as an individual covered by the UIL Holdings Corporation Change in Control Severance Plan II (the “UIL CIC Plan II”), subject to all of the terms and provisions of the UIL CIC Plan II as it may be amended from time to time. For purposes of this Agreement, “Change in Control” shall have the meaning set forth in the UIL CIC Plan II. Nothing in this subsection, however, shall entitle the Executive to continued participation in such Plan should the UIL Board determine otherwise in accordance with the terms of that Plan. In no event shall the Executive be entitled to participate in the UIL CIC Plan II if he is still a participant under the terms of the UIL Change in Control Severance Plan (restated effective October 24, 2003) (“UIL CIC Plan I”), and in no event shall he be entitled to benefits under both plans. By signing this Agreement, the Executive hereby relinquishes any claim he might have under the CIC Plan I now or in the future.

Change in Control Severance Plan. In consideration of the grant of the Award and acknowledging that such agreement constitutes a material inducement for the grant of such Award, the Participant hereby agrees that as of the date hereof, with respect to the Freescale Semiconductor, Inc. Officer Change in Control Severance Plan (the “CIC Plan”), in no event will there be deemed to be a Good Reason with respect to the Participant under the CIC Plan solely by reason of (a) Freescale Semiconductor, Inc. becoming privately held in connection with the consummation of the transactions contemplated by the Merger Agreement (as defined in the Investors Agreement), (b) on account of a lateral change to the Participant’s duties that does not affect the Participant’s reporting relationships or (c) the Participant ceasing to serve as an executive of a publicly held corporation. The Participant further agrees that the last sentence of Section 7.4 of the CIC Plan shall be of no force and effect.

Change in Control Severance Plan. During the Employment Term, the Executive shall be entitled to participate in the Company’s Change in Control Severance Plan for Certain U.S. Officers and Executives in accordance with its terms, as amended from time to time.

Change in Control Severance Plan. During the Initial Term and any Renewal Term, you shall be eligible to participate in the Company’s Change in Control Severance Plan, dated as of December 4, 2018, as may be amended from time to time, or any successor plan thereto and any amounts payable to you thereunder shall be payable in lieu of any amounts payable to you under Section 3.6.

Change in Control Severance Plan. The Parties acknowledge and agree that the transactions contemplated by this Agreement or the Separation Agreement do not constitute a “change in control” under either such plan. Neither the transfer of a SpinCo Employee’s employment to SpinCo nor the transactions contemplated by this Agreement or the Separation Agreement shall constitute an “involuntary termination” under either such plan.

Change in Control Severance Plan. The Employee shall be designated by the Board of Directors of the Company as a person covered by the Change in Control Severance Plan of the Company (the UIL Plan), subject to all of the terms and provisions of the UIL Plan.

Change in Control Severance Plan. In connection with and conditioned upon the Merger, the Company will assume sponsorship of the Allegiance Bancshares, Inc. Change in Control Severance Plan dated January 30, 2020, as amended from time to time (the “CIC Plan”). If Executive is employed by the Bank immediately prior to the Effective Time, the Bank shall cause the Company to take all actions necessary and appropriate (including obtaining any required consents and adopting any required plan amendments) to (A) cause Executive to become a participant in CIC Plan effective as the Effective Time with a “Severance Multiplier” (as defined in the CIC Plan) of no less than 3.0 and severance benefits at least equal to the severance benefits provided to similarly situated senior executive officers of Allegiance who participate in the CIC Plan immediately prior to the Effective Time, and (B) provide that an “Effective Period” (as defined in the CIC Plan) shall apply with respect to Executive for the 18-month period following the Effective Time. During the Term, (x) Executive shall remain eligible to participate in the CIC Plan and (y) the CIC Plan shall not be terminated or otherwise be amended in a manner that is materially adverse to Executive. If the Company is unable for any reason to provide for Executive’s participation in the CIC Plan as contemplated by this Section 3(h), the Company and Executive shall promptly and in good faith negotiate an amendment to this Agreement to provide for severance benefits at least equal to the severance benefits that Executive would have been entitled to receive had Executive been a participant in the CIC Plan on the date of this Agreement with a “Severance Multiplier” of 3.0.

Change in Control Severance Plan. Notwithstanding anything to the contrary in the Change in Control Severance Plan (including, for the avoidance of doubt, Section 9 therein), you shall be entitled to the Retention Award in addition to any payments or benefits to which you may also be entitled under the Change in Control Severance Plan.