Change in Employer Status. Notwithstanding anything above, Employee may terminate the Period of Employment (in which case all of Employer's obligations under this Agreement shall cease after payment of all compensation due and owing) upon any formal action of Employer's management to terminate Employer's existence or otherwise wind up its affairs, to sell all or substantially all of its assets, or to merge with or into another entity. In the event Employee terminates the Period of Employment under this subsection, Employer shall pay Employee all compensation due and owing through the last day actually worked plus a Severance Payment as described in subsection 4(e) below, which payment shall be in lieu of any damages under this Agreement for any alleged breach. Employee shall be entitled to compensation under this subsection 4(d) only if, within ninety (90) days after the change in employer status becomes effective, Employee gives Employer, or its successor or assigns, sixty (60) day's notice of Employee's intent to terminate the Period of Employment. Upon receiving this notice, Employer shall have the option, in its complete discretion, to make Employee's termination effective at any time prior to the end of the notice period, provided that Employer pays Employee all compensation due and owing through the balance of the notice period (not to exceed sixty (60) days), in addition to all other compensation due and owing, including without limitation, the Severance Payment.
Change in Employer Status. In the event of a change in employer status, members of Local 1 will retain all of their rights under the Collective Agreement.”
Change in Employer Status. To the extent permitted by law, Employer, in its sole discretion may terminate the Period of Employment (in which case all of Employer's obligations under this Agreement shall cease after payment of all compensation due and owing, including payment for accrued unused vacation, expense reimbursement and other amounts he may be entitled to), upon the Employer’s Board of Directors adopting a resolution to terminate Employer's existence or otherwise wind up its affairs.
Change in Employer Status. To the extent permitted by law, SpaceDev, in its sole discretion, may terminate this Agreement (in which case all of SpaceDev's obligations under this Agreement shall cease after payment of all compensation due and owing) upon any formal action of SpaceDev's management to terminate SpaceDev's existence or otherwise wind up its affairs, to sell all or substantially all of its assets, or to merge with or into another entity.
Change in Employer Status. To the extent permitted by law, Employer, in its sole discretion, may terminate the Period of Employment (in which case all of Employer's obligations under this Agreement shall cease after payment of all compensation due and owing) upon any formal action of Employer's management to terminate Employer's existence or otherwise wind up its affairs, to sell all or substantially all of its assets, or to merge with or into another entity.
Change in Employer Status. To the extent permitted by law, Western, in its sole discretion, may terminate the Period of Employment (in which case all of Western's obligations under this Agreement shall cease after payment of all compensation due and owing, such as accrued vacation, earned but unpaid salary, and expense reimbursements, if any) upon any formal action of Western's Board of Directors to terminate Western's existence or otherwise wind up its affairs, to sell all or substantially all of its assets, or to merge with or into another entity.
Change in Employer Status. To the extent permitted by law, Company, in its sole discretion, may terminate this Agreement (in which case all of Company's obligations under this Agreement shall cease after payment of all compensation due and owing) upon any formal action of Company's management to terminate Company's existence or otherwise wind up its affairs, to sell all or substantially all of its assets, or to merge with or into another entity.
Change in Employer Status. To the extent permitted by law, SPDV, in its sole discretion, may terminate the Period of Employment (in which case all of SPDV's obligations under this Agreement shall cease after payment of all compensation due and owing) upon any formal action of SPDV's management to terminate SPDV's existence or otherwise wind up its affairs, to sell all or substantially all of its assets, or to merge with or into another entity.
