Common use of CHANGE IN CONTROL OF THE CORPORATION Clause in Contracts

CHANGE IN CONTROL OF THE CORPORATION. In the event of a "Change in Control" (as defined below) of the Corporation during the Term, Executive may terminate this Agreement as provided herein. Upon termination of this Agreement for any reason provided above, Executive shall be entitled to receive all compensation earned and all benefits and reimbursements due through the effective date of termination. Additional compensation subsequent to termination, if any, will be due and payable to Executive only to the extent and in the manner expressly provided above or in paragraph 5 hereof. If termination of Executive's employment arises out of the Corporation's failure to pay Executive on a timely basis the amounts to which he is entitled under this Agreement or as a result of any other breach of this Agreement by the Corporation, the Corporation shall pay all amounts and damages to which Executive may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expenses and other costs incurred by Executive to enforce his rights hereunder. Further, none of the provisions of paragraph 11 hereof shall apply in the event this Agreement is terminated as a result of a breach by the Corporation.

Appears in 2 contracts

Samples: Employment Agreement (American Marine Recreation Inc), Employment Agreement (Urban Cool Network Inc)

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CHANGE IN CONTROL OF THE CORPORATION. In the event of a "Change in Control" (as defined below) of the Corporation during the Term, Executive may terminate this Agreement as provided herein. Upon termination of this Agreement for any reason provided above, Executive shall be entitled to receive all compensation earned and all benefits and reimbursements due through the effective date of termination. Additional compensation subsequent to termination, if any, will be due and payable to Executive only to the extent and in the manner expressly provided above or in paragraph 5 13 hereof. If termination of Executive's employment arises out of the Corporation's failure to pay Executive on a timely basis the amounts to which he is entitled under this Agreement or as a result of any other breach of this Agreement by the Corporation, the Corporation shall pay all amounts and damages to which Executive may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expenses and other costs incurred by Executive to enforce his rights hereunder. Further, none of the provisions of paragraph 11 hereof shall apply in the event this Agreement is terminated as a result of a breach by the Corporation.

Appears in 1 contract

Samples: Employment Agreement (American Marine Recreation Inc)

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CHANGE IN CONTROL OF THE CORPORATION. In the event of a "Change in Control" (as defined below) of the Corporation during the Term, Executive may terminate this Agreement as provided herein. Upon termination of this Agreement for any reason provided above, Executive shall be entitled to receive all compensation earned and all benefits and reimbursements due through the effective date of termination. Additional compensation subsequent to termination, if any, will be due and payable to Executive only to the extent and in the manner expressly provided above or in paragraph 5 13 hereof. If termination of Executive's employment arises out of the Corporation's failure to pay Executive on a timely basis the amounts to which he is entitled under this Agreement or as a result of any other breach of this Agreement by the Corporation, the Corporation shall pay all amounts and damages to which Executive may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expenses and other costs incurred by Executive to enforce his rights hereunder. Further, none of the provisions of paragraph 11 hereof shall apply in the event this Agreement is terminated as a result of a breach by the Corporation.enforce

Appears in 1 contract

Samples: Employment Agreement (American Marine Recreation Inc)

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