Change of Ownership/Control. In the event of a change of ownership/control (40% or more), the Employee or Employer may terminate this Agreement for “good reason” and provide a lump sum payment of an amount equal one (1) year, all options granted and not vested will immediately vest, plus all vested benefits. Further, Employee will be entitled to all benefits that are provided under law as well as the Employers plan (COBRA, continuing life insurance, etc.).
Change of Ownership/Control a. In the event of a change of ownership control of the Bank, this Employee shall no longer remain an at-will employee and this Agreement shall become an employment agreement for a term of twenty four months on the effective date of such change of ownership control. Employee's salary shall not be reduced for any reason during the twenty four month term of employment, except as provided under Paragraph 5(b), below.
Change of Ownership/Control. In the event of change of ownership/control of Carrier as identified in Section 15., above, Shipper shall have the right to terminate this Contract upon thirty (30) days written notice to Carrier, which right may be exercised at any time from receipt of the notice required pursuant to Section 15., above, and for one (1) year thereafter.
Change of Ownership/Control. 1. Provider must notify Regence immediately, but no later than 30 days, following a change of ownership or control, whether direct or indirect, of or by the Provider.
Change of Ownership/Control. In the event an unrelated third party acquires ownership in the aggregate of forty-nine percent (49%) or more of the voting securities of Tenant, it shall be deemed a "Change of Ownership Control." Upon a Change of Ownership Control, Landlord shall have the right to terminate the Lease and require the Tenant to exercise the Purchase Option pursuant to Section 20.1 of the Lease. Tenant shall give Landlord written notice of such Change of Ownership within thirty (30) days of such change. After Landlord receives written notice of such Change in Ownership Control Landlord shall notify Tenant within ninety (90) days of Landlord's receipt of such notice, in writing of its intent to terminate the Lease upon such a Change of Ownership Control. Landlord's failure to notify Tenant of such termination within the ninety (90) days will be deemed a waiver of Landlord's right to terminate the Lease based on a Change of Ownership Control.
Change of Ownership/Control. If a Change of Ownership Control occurs during your tenure as Chief Marketing Officer, followed within six months by either (i) the termination of your employment by the successor to Tumbleweed for any reason other than Cause or (ii) Constructive Termination, then immediately prior to such termination or Constructive Termination, subject to your delivery of a signed release of claims in a form reasonably satisfactory to such successor, the vesting of one hundred percent of your then-outstanding stock options shall occur.
Change of Ownership/Control. If a Change of Ownership Control occurs and your employment is terminated without Cause or you resign your employment for Good Reason, as those terms are defined herein, within six months following the Change of Ownership Control, upon such termination, twenty-five percent (25%) of the shares subject to the Option shall vest and become immediately exercisable. For purposes of this agreement, “Change of Ownership Control” means (i) any sale of all or substantially all of the Company’s assets, or (ii) any merger, consolidation, or stock sales any of which results in the holders of the Company’s capital stock immediately prior to such transaction owning less than 50% of the voting power of the Company’s capital stock immediately after such transaction. Proprietary Information. As a condition of employment, you will be required to sign the Company’s Proprietary Information and Inventions Agreement, a copy of which is being provided to you with this agreement. Please read and sign it and return it to Bxxxxxx X. Xxxxxxx, the Company’s General Counsel.
Change of Ownership/Control. If Borrower effects a change of ownership or control of Borrower’s personal, corporate or partnership entity or business without the prior written consent of the Lender.
