Common use of Business Transaction Clause in Contracts

Business Transaction. If Executive's employment hereunder is terminated (other than on account of Cause as defined in Section 3.3 hereof) in connection with a Business Transaction, then notwithstanding any provision of this Agreement to the contrary, the Company shall pay or provide to Executive (a) the amount described in Section 3.1a hereof, payable not later than three days after his termination of employment, (b) the amounts determined under Sections 3.1b and 3.1d hereof, payable in not more than two equal installments, one-half not later than 30 days after termination and the other one-half six months after such termination, and (c) the benefits described in Sections 3.1e and 3.1f and 4.2e and 4.2f hereof.

Appears in 4 contracts

Samples: Executive Employment Agreement (Cleco Power LLC), Executive Employment Agreement (Cleco Power LLC), Executive Employment Agreement (Cleco Power LLC)

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Business Transaction. If Executive's employment hereunder is terminated (other than on account of Cause as defined in Section 3.3 hereof) in connection with a Business Transaction, then notwithstanding any provision of this Agreement to the contrary, the Company shall pay or provide to Executive (a) the amount described in Section 3.1a hereof, payable not later than three days after his her termination of employment, (b) the amounts determined under Sections 3.1b and 3.1d hereof, payable in not more than two equal installments, one-half not later than 30 days after termination and the other one-half six months after such termination, and (c) the benefits described in Sections 3.1e and 3.1f and 4.2e and 4.2f hereof.

Appears in 3 contracts

Samples: Executive Employment Agreement (Cleco Power LLC), Executive Employment Agreement (Cleco Power LLC), Executive Employment Agreement (Cleco Corp)

Business Transaction. If Executive's ’s employment hereunder is terminated (other than on account of Cause as defined in Section 3.3 hereof) in connection with a Business Transaction, then notwithstanding any provision of this Agreement to the contrary, the Company shall pay or provide to Executive (a) the amount described in Section 3.1a hereof, payable not later than three days after his termination of employment, (b) the amounts determined under Sections 3.1b and 3.1d hereof, payable in not more than two equal installments, one-half not later than 30 days after termination and the other one-half six months after such termination, or, if earlier, on March 15th of the calendar year following the calendar year in which such termination occurs, and (c) the benefits described in Sections 3.1e and 3.1f and 4.2d and 4.2e and 4.2f hereof.

Appears in 2 contracts

Samples: Executive Employment Agreement (Cleco Power LLC), Executive Employment Agreement (Cleco Power LLC)

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Business Transaction. If Executive's ’s employment hereunder is terminated (other than on account of Cause as defined in Section 3.3 hereof) in connection with a Business Transaction, then notwithstanding any provision of this Agreement to the contrary, the Company shall pay or provide to Executive (a) the amount described in Section 3.1a hereof, payable not later than three days after his termination of employment, (b) the amounts determined under Sections 3.1b and 3.1d hereof, payable in not more than two equal installments, one-half not later than 30 days after termination and the other one-half six months after such termination, and (c) the benefits described in Sections 3.1e and 3.1f and 4.2d and 4.2e and 4.2f hereof.

Appears in 1 contract

Samples: Executive Employment Agreement (Cleco Power LLC)

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