Common use of Change in Control and Plan Term Clause in Contracts

Change in Control and Plan Term. Notwithstanding Section 1.2, in the event of a Change in Control during the term of the Plan, the Company may not terminate the Plan or any individual Executive’s participation in the Plan during the period beginning on the date of the Change in Control through the second anniversary of the Change in Control, whereupon the provisions of the Plan pertaining to Change in Control Severance Benefits shall automatically terminate; provided, however, that such automatic termination shall not apply to the payment of any Change in Control Severance Benefits commenced prior to such automatic termination. The Company shall cause any successor entity in a Change in Control to expressly assume the Plan, as further provided in Article 8.

Change in Control and Plan Term. Notwithstanding Section 1.2, in the event of a Change in Control during the term of the Plan, the Company may not terminate the Plan or any individual Executive’s participation in the Plan during the period beginning on the date of the Change in Control through the second anniversary of the Change in Control, whereupon the provisions of the Plan pertaining to Change in Control Severance Benefits shall automatically terminate; provided, however, that such automatic termination shall not apply to the payment of any Change in Control Severance Benefits commenced prior to such automatic termination. The Company shall cause any successor entity in a Change in Control to expressly assume the Plan, as further provided in Article 87.