Common use of Benefits Upon Termination without Cause or for Good Reason in Connection with a Change in Control Clause in Contracts

Benefits Upon Termination without Cause or for Good Reason in Connection with a Change in Control. If (a) a Change in Control occurs during the Employment Period and within two (2) years after the Change in Control Date (i) the Company shall terminate the Executive's employment without Cause, or (ii) the Executive shall terminate employment with the Company for Good Reason, OR, alternatively, (b) if one of the above-described terminations of employment occurs within the six-month period prior to the earlier of (i) a Change in Control Date or (ii) the execution of a definitive agreement or contract that eventually results in a Change in Control, then the Executive shall become entitled to the payment of the benefits as provided below as of either (y) the Date of Termination, in the case where the sequence of the requisite events is as set forth in subsection (a) above or (z) the Change in Control Date, in the case where the sequence of the requisite events occurred as set forth in subsection (b) above (the relevant date for purposes of entitlement to the benefits as set forth in this Section 4.2 is hereinafter referred to as the "Entitlement Date"):

Appears in 3 contracts

Samples: Employment Agreement (Angelica Corp /New/), Employment Agreement (Angelica Corp /New/), Employment Agreement (Angelica Corp /New/)

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Benefits Upon Termination without Cause or for Good Reason in Connection with a Change in Control. If (a) a Change in Control occurs during the Employment Period and within two (2) years after the Change in Control Date (i) the Company shall terminate the ExecutiveEmployee's employment without Cause, or (ii) the Executive Employee shall terminate employment with the Company for Good Reason, ORor, alternatively, (b) if one of the above-described terminations of employment occurs within the six-month period prior to the earlier of (i) a Change in Control Date or (ii) the execution of a definitive agreement or contract that eventually results in a Change in Control, then the Executive Employee shall become entitled to the payment of the benefits as provided below as of either (y) the Date of Termination, in the case where the sequence of the requisite events is as set forth in subsection (a) above or (z) the Change in Control Date, in the case where the sequence of the requisite events occurred as set forth in subsection (b) above (the relevant date for purposes of entitlement to the benefits as set forth in this Section 4.2 is hereinafter referred to as the "β€œEntitlement Date"”):

Appears in 3 contracts

Samples: Angelica Corporation (Angelica Corp /New/), Angelica Corporation (Angelica Corp /New/), Employment Agreement (Angelica Corp /New/)

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Benefits Upon Termination without Cause or for Good Reason in Connection with a Change in Control. If (a) a Change in Control occurs during the Employment Period and within two one (21) years after the Change in Control Date (i) the Company shall terminate the Executive's employment without Cause, or (ii) the Executive shall terminate employment with the Company for Good Reason, OR, alternatively, (b) if one of the above-described terminations of employment occurs within the six-month period prior to the earlier of (i) a Change in Control Date or (ii) the execution of a definitive agreement or contract that eventually results in a Change in Control, then the Executive shall become entitled to the payment of the benefits as provided below as of either (y) the Date of Termination, in the case where the sequence of the requisite events is as set forth in subsection (a) above or (z) the Change in Control Date, in the case where the sequence of the requisite events occurred as set forth in subsection (b) above (the relevant date for purposes of entitlement to the benefits as set forth in this Section 4.2 is hereinafter referred to as the "Entitlement Date"):

Appears in 1 contract

Samples: Employment Agreement (Angelica Corp /New/)

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