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Common use of Change of Control Agreement Clause in Contracts

Change of Control Agreement. In the event that the --------------------------- Company's Board of Directors authorizes the Company to enter into "change of control" severance agreements with one or more of its officers, the Executive will be offered the opportunity to enter into such an agreement on terms and conditions no less favorable in any material respect than those offered to any other of the Company's officers serving at that time at the same level as the Executive.

Appears in 2 contracts

Samples: Employment Agreement (Trans World Airlines Inc /New/), Employment Agreement (Trans World Airlines Inc /New/)

Change of Control Agreement. In the event that the --------------------------- Company's Board of Directors authorizes the Company to enter into "change of control" severance agreements with one or more of its officers, the Executive will be offered the opportunity to enter into such an agreement on terms and conditions no less favorable in any material respect than those offered to any other of the Company's officers serving at that time at the same level as the Executiveofficers.

Appears in 2 contracts

Samples: Employment Agreement (Trans World Airlines Inc /New/), Employment Agreement (Trans World Airlines Inc /New/)

Change of Control Agreement. In the event that the --------------------------- Company's --------------------------- Board of Directors authorizes the Company to enter into "change of control" severance agreements with one or more of its officers, the Executive will be offered the opportunity to enter into such an agreement on terms and conditions no less favorable in any material respect than those offered to any other of the Company's officers serving at that time at time. The Company hereby represents that as of the same level as date hereof no such agreements are currently in effect with respect to any officer nor does the ExecutiveCompany's Board of Directors or any of its committees have before it in active consideration any such agreement.

Appears in 1 contract

Samples: Employment Agreement (Trans World Airlines Inc /New/)