Common use of TERMINATION OF EMPLOYMENT AFTER A CHANGE IN CONTROL Clause in Contracts

TERMINATION OF EMPLOYMENT AFTER A CHANGE IN CONTROL. If a Change in Control occurs during the term of this Employment Agreement, the Executive shall be entitled to the lump sum payment specified in paragraph (b) below if the Executive’s employment terminates voluntarily or involuntarily but without Cause within 12 months after the Change in Control. If the Executive is removed from office or if his employment terminates before a Change in Control occurs but after discussions with a third party regarding a Change in Control commence, and if those discussions ultimately conclude with a Change in Control, then for purposes of this Employment Agreement the removal of the Executive or termination of his employment shall be deemed to have occurred after the Change in Control.