Common use of Trigger Event Clause in Contracts

Trigger Event. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events: (a) the failure by the Company or the Bank to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date; (b) a material modification by the Company or the Bank of the title, duties, functions or responsibilities of the Executive without his written consent; (c) the failure of the Company or the Bank to permit the Executive to exercise such responsibilities as are consistent with the Executive's position and of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as ▇▇▇▇▇▇▇; (d) the Company or the Bank requires the Executive to relocate his employment more than fifty (50) miles from his place of employment, without the written consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time; (e) any decrease, without the Executive’s written consent, in the Executive’s (i) annual base salary, (ii) target or maximum annual cash incentive award opportunity or (iii) target annual equity incentive award opportunity; (f) the Company or the Bank shall fail to make a payment when due to the Executive; or (g) a breach by ▇▇▇▇▇▇▇ of the obligations set forth in Article 15 of this Agreement.

Trigger Event. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events: (a) the failure by the Company or the Bank to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date; (b) a material modification by the Company or the Bank of the title, duties, functions or responsibilities of the Executive without his written consent; (c) the failure of the Company or the Bank to permit the Executive to exercise such responsibilities as are consistent with the Executive's position and of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as ▇▇▇▇▇▇▇Simmons; (d) the Company or the Bank requires the Executive to relocate his employment more than fifty (50) miles from his place of employment, without the written consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time; (e) any decrease, without the Executive’s written consent, in the Executive’s (i) annual base salary, (ii) target or maximum annual cash incentive award opportunity or (iii) target annual equity incentive award opportunity; (f) the Company or the Bank shall fail to make a payment when due to the Executive; or (g) a breach by ▇▇▇▇▇▇▇ Simmons of the obligations set forth in Article 15 of this Agreement.

Trigger Event. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events: (a) the failure by the Company or the Bank to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date; (b) a material modification by the Company or the Bank of the title, duties, functions or responsibilities of the Executive without his written consent; (c) the failure of the Company or the Bank to permit the Executive to exercise such responsibilities as are consistent with the Executive's ’s position and of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as ▇▇▇▇▇▇▇; (d) the Company or the Bank requires the Executive to relocate his employment more than fifty (50) miles from his place of employment, without the written consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time; (e) any decrease, without the Executive’s written consent, in the Executive’s (i) annual base salary, (ii) target or maximum annual cash incentive award opportunity or (iii) target annual equity incentive award opportunity; (f) the Company or the Bank shall fail to make a payment when due to the Executive; or (g) a breach by ▇▇▇▇▇▇▇ of the obligations set forth in Article 15 of this Agreement.

Trigger Event. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events: (a) the failure by the Company or the Bank to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date; (b) a material modification by the Company or the Bank of the title, duties, functions or responsibilities of the Executive without his her written consent; (c) the failure of the Company or the Bank to permit the Executive to exercise such responsibilities as are consistent with the Executive's position and of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as ▇▇▇▇▇▇▇; (d) the Company or the Bank requires the Executive to relocate his her employment more than fifty (50) miles from his her place of employment, without the written consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time; (e) any decrease, without the Executive’s written consent, in the Executive’s (i) annual base salary, (ii) target or maximum annual cash incentive award opportunity or (iii) target annual equity incentive award opportunity; (f) the Company or the Bank shall fail to make a payment when due to the Executive; or (g) a breach by ▇▇▇▇▇▇▇ of the obligations set forth in Article 15 of this Agreement.

Trigger Event. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events: (a) the failure by the Company or the Bank to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date; (b) a material modification by the Company or the Bank of the title, duties, functions or responsibilities of the Executive without his her written consent; (c) the failure of the Company or the Bank to permit the Executive to exercise such responsibilities as are consistent with the Executive's position and of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as ▇▇▇▇▇▇▇; (d) the Company or the Bank requires the Executive to relocate his her employment more than fifty (50) miles from his place of employment, without the written consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time; (e) any decrease, without the Executive’s written consent, in the Executive’s (i) annual base salary, (ii) target or maximum annual cash incentive award opportunity or (iii) target annual equity incentive award opportunity; (f) the Company or the Bank shall fail to make a payment when due to the Executive; or (g) a breach by ▇▇▇▇▇▇▇ of the obligations set forth in Article 15 of this Agreement.