Common use of Company Automobile Clause in Contracts

Company Automobile. The Executive shall be permitted to use his leased Company automobile for 45 days following the Effective Date of Termination and during such period, shall have the right to purchase such car from the leasing company at the price specified in the lease. In the event the Executive does not comply with the provisions of Section 6(f) of this Agreement, the Executive shall be entitled to his then current Base Salary through the Effective Date of Termination.

Appears in 5 contracts

Samples: Employment Agreement (Aqua Chem Inc), Employment Agreement (Aqua Chem Inc), Employment Agreement (Aqua Chem Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!