Date of Change of Control definition

Date of Change of Control means:
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Date of Change of Control means any of the following: (a) the first date on which a single person and/or entity, or group of affiliated persons and/or entities, acquire the beneficial ownership of twenty-five percent (25%) or more of the Company's voting securities; or (b) the date of the transfer of all or substantially all of the Company or Company's assets; or (c) the date on which a merger, consolidation or combination is consummated, as applicable; or (d) the date on which individuals who formerly constituted a majority of the Incumbent Board of Directors of the Bank ceased to be a majority thereof. For these purposes, "Incumbent Board" means the members of the Board of Directors of the Company on the effective date of the Plan, provided that any person becoming a member of the Board of Directors subsequent to such effective date, whose election was approved by a vote of at least three-quarters of the members of the Board of Directors comprising the Incumbent Board, or whose nomination for election by members or stockholders was approved by the same nominating committee serving under an Incumbent Board, shall be considered as though he were a member of the Incumbent Board.
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Date of Change of Control means the date on which a “Change of Control” event occurs under Section 1.1.1. 5. Section 1.1.4 of the Salary Continuation Agreement is hereby amended by deleting the existing definition of “Disability” in its entirety and by adding a new definition of “Disability” as follows:
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Examples of Date of Change of Control in a sentence

  • The Corporation, Bank, or successor to the Corporation or Bank shall have the right to request Executive remain in the employ of the Corporation, Bank, or a successor to the Corporation or Bank for a period of less than six months following the Date of Change of Control.

  • Executive agrees to remain an employee of the Corporation, Bank or successor to the Corporation or Bank pursuant to their request conditioned upon Executive being compensated in the same amount and on the same terms as he was compensated immediately prior to the Date of Change of Control, including participation in all employee benefit plans to which he would otherwise be entitled.

  • For purposes of this Agreement, the "Date of Change of Control" shall be defined as the first date upon which the events delineated in Subsections (a), (b) and (c) of Section 2 are consummated or occur.

  • Provided, however, that termination of the Executive's employment by the Corporation or Bank during the period of time between the execution of an agreement to effect a Change of Control (as defined herein) and the actual Date of Change of Control (as defined herein) shall only be "For Cause." This Section shall not affect the terms of the Executive's employment at will.

  • In addition, notwithstanding the payments to Executive contemplated by this Section 14(c), if Executive is requested by Corporation, Bank or a successor thereto to remain in the employ of Corporation, Bank or such successor following the Date of Change of Control, Executive expressly agrees to remain in the employ of Corporation, Bank or such successor for not less than six months, or such shorter period as Corporation, Bank or such successor may request, following the Date of Change of Control.

  • If the Executive shall terminate his employment for Good Reason, as defined in paragraph 10(d)(iv), constituting a Change of Control, then the Bank shall pay the Executive his full Annual Direct Salary from the Date of Change of Control as defined in paragraph 14 through the last day of the term of this Agreement or an amount equal to his current Annual Direct Salary, whichever is greater.

  • Executive agrees to remain an employee of Corporation, Bank or a successor pursuant to such request conditioned upon Executive being compensated in the same amount and on the same terms as he was compensated immediately prior to the Date of Change of Control, including participation in all employee benefit plans to which he would otherwise be entitled.

  • Following a Date of Change of Control, the Executive shall be entitled to the benefit described in this Section 2.4 in lieu of any other benefit under this Agreement.

  • The Corporation, Bank or successor thereto shall have the right to request the Executive remain in the employ of the Corporation, Bank, or successor for a period of less than six months following the Date of Change of Control.

  • The Executive’s stock options under section 4.3 will be governed by the requirements and provisions of the Company’s stock option plan and the rules of the CSE in effect as of the Date of Change of Control.


More Definitions of Date of Change of Control

Date of Change of Control means the date upon which a Change of Control is completed;
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Date of Change of Control means the earliest date on which any of the occurrences listed in Section 9 of this Plan should occur.
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Related to Date of Change of Control

  • Change of Control Date means the date on which a Change of Control occurs.

  • Change in Control Date means the date on which a Change in Control occurs.

  • Change of Control Put Date shall have the meaning specified in Section 11.1.

  • Company Change of Control means any of the following events:

  • Change of Control Period means the period commencing on the date hereof and ending on the third anniversary of the date hereof; provided, however, that commencing on the date one year after the date hereof, and on each annual anniversary of such date (such date and each annual anniversary thereof shall be hereinafter referred to as the "Renewal Date"), unless previously terminated, the Change of Control Period shall be automatically extended so as to terminate three years from such Renewal Date, unless at least 60 days prior to the Renewal Date the Company shall give notice to the Executive that the Change of Control Period shall not be so extended.