Oklahoma Executive Change in Control Agreement for The First National Bank of Litchfield

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9378
• Format: Word; Rich Text

Description

Executive Change in Control Agreement between the First National Bank of Litchfield, First Litchfield Financial Corporation and Jerome J. Whalen as President of First National Bank of Litchfield and First Litchfield Financial Corporation (Not to be The Oklahoma Executive Change in Control Agreement is a legal contract that pertains to executives employed at The First National Bank of Litchfield and outlines the terms and conditions that apply in the event of a change in control within the organization. This agreement aims to provide protection and certain benefits to executives who may be affected by such changes, ensuring their continued commitment and loyalty to the bank. Keywords: Oklahoma Executive Change in Control Agreement, The First National Bank of Litchfield, executives, legal contract, terms and conditions, change in control, protection, benefits, commitment, loyalty. Types of Oklahoma Executive Change in Control Agreement for The First National Bank of Litchfield: 1. Standard Oklahoma Executive Change in Control Agreement: This agreement serves as the baseline document that outlines the general terms and conditions applicable to executives at The First National Bank of Litchfield in the event of a change in control. 2. Senior Executive Oklahoma Executive Change in Control Agreement: This specific agreement is tailored to provide additional protections and benefits for senior level executives within the bank. It may include higher severance packages, longer notice periods, enhanced stock options, or other perks in comparison to the standard agreement. 3. Specific Position Oklahoma Executive Change in Control Agreement: This agreement is designed for executives holding specific positions within the bank, such as the Chief Executive Officer (CEO), Chief Financial Officer (CFO), or Chief Operating Officer (COO). It takes into account their unique roles and responsibilities, providing tailored protections and benefits accordingly. 4. Tiered Oklahoma Executive Change in Control Agreement: This type of agreement is structured based on the executive's hierarchical level within the bank. It may include different severance packages or benefits based on their seniority and status within the organization. 5. Customized Oklahoma Executive Change in Control Agreement: In some cases, executives may negotiate individualized change in control agreements that deviate from the standard templates. These custom agreements are drafted to address the specific needs and concerns of the executive while adhering to relevant legal requirements.

The Oklahoma Executive Change in Control Agreement is a legal contract that pertains to executives employed at The First National Bank of Litchfield and outlines the terms and conditions that apply in the event of a change in control within the organization. This agreement aims to provide protection and certain benefits to executives who may be affected by such changes, ensuring their continued commitment and loyalty to the bank. Keywords: Oklahoma Executive Change in Control Agreement, The First National Bank of Litchfield, executives, legal contract, terms and conditions, change in control, protection, benefits, commitment, loyalty. Types of Oklahoma Executive Change in Control Agreement for The First National Bank of Litchfield: 1. Standard Oklahoma Executive Change in Control Agreement: This agreement serves as the baseline document that outlines the general terms and conditions applicable to executives at The First National Bank of Litchfield in the event of a change in control. 2. Senior Executive Oklahoma Executive Change in Control Agreement: This specific agreement is tailored to provide additional protections and benefits for senior level executives within the bank. It may include higher severance packages, longer notice periods, enhanced stock options, or other perks in comparison to the standard agreement. 3. Specific Position Oklahoma Executive Change in Control Agreement: This agreement is designed for executives holding specific positions within the bank, such as the Chief Executive Officer (CEO), Chief Financial Officer (CFO), or Chief Operating Officer (COO). It takes into account their unique roles and responsibilities, providing tailored protections and benefits accordingly. 4. Tiered Oklahoma Executive Change in Control Agreement: This type of agreement is structured based on the executive's hierarchical level within the bank. It may include different severance packages or benefits based on their seniority and status within the organization. 5. Customized Oklahoma Executive Change in Control Agreement: In some cases, executives may negotiate individualized change in control agreements that deviate from the standard templates. These custom agreements are drafted to address the specific needs and concerns of the executive while adhering to relevant legal requirements.