Common use of IN CONTROL Clause in Contracts

IN CONTROL. If a Change in Control occurs during the term of this Agreement, the Executive shall be entitled to the lump sum cash payment specified in paragraph (b) and the benefits provided in (c) below if the Executive's employment is involuntarily terminated by the Bank without Cause at any time after the Change in Control or if the Executive voluntarily resigns from employment for any reason at any time after the Change in Control.

Appears in 2 contracts

Sources: Employment Agreement (Citizens South Banking Corp), Employment Agreement (Citizens South Banking Corp)