Common use of Company's Covenants Summarized Clause in Contracts

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company following a Change in Control. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 12 contracts

Samples: Change in Control Agreement (KAMAN Corp), Kaman Corporation (Kaman Corp), Kaman Corporation (Kaman Corp)

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Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section Sections 5.1 and 8.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company following a Change in Control. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 8 contracts

Samples: Change in Control Agreement (Kaman Corp), Change in Control Agreement (Kaman Corp), Change in Control Agreement (Kaman Corp)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment, the Company agrees, under the terms and conditions described hereinhereof, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company following a Change in Control. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 6 contracts

Samples: Severance Agreement (STR Holdings, Inc.), Severance Agreement (STR Holdings, Inc.), Severance Agreement (STR Holdings, Inc.)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employmentcovenants in Section 4, the Company agreesCompany, under the conditions described herein, to shall pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement9.1, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company Terminating Event following a Change in ControlControl (or during a Potential Change in Control Period) and during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 4 contracts

Samples: Change in Control Severance Agreement (Mercury Computer Systems Inc), Employment Agreement (Mercury Computer Systems Inc), Change in Control Severance Agreement (Mercury Computer Systems Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment's covenants set forth in Section 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the CIC Severance Payments, the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement, no Neither CIC Severance Payments (as defined in Section 5) nor Severance Payments shall be payable under this Agreement unless there shall have been a termination of the Executive’s 's employment with the Company following a Change in Controlduring the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 4 contracts

Samples: Severance Agreement (Compuware Corp), Severance Agreement (Compuware Corp), Severance Agreement (Covisint Corp)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employmentCompany, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement8.1 hereof, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s 's employment with the Company following a Change in ControlControl and during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 3 contracts

Samples: Form of Severance Agreement (Healthsource Inc), Form of Severance Agreement (Healthsource Inc), Form of Severance Agreement (Healthsource Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employmentcovenants set forth in Section 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement10.1 hereof, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company following a Change in ControlControl and during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 3 contracts

Samples: Management Severance Agreement, Management Severance Agreement (Donaldson Co Inc), Management Severance Agreement (Donaldson Co Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment's covenants set forth in Sections 4 and 7 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company following a Change in ControlPayments. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 3 contracts

Samples: Retention and Severance Agreement (Adesa Inc), Retention and Severance Agreement (Adesa Inc), Retention and Severance Agreement (Adesa Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment's covenants set forth in Section 4 hereof, the Company agrees, under under, and subject to, the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement, no No Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company following a Change in ControlQualifying Termination. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed to in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 2 contracts

Samples: Change in Control Severance Protection Agreement (LG&E & KU Energy LLC), Change in Control Severance Protection Agreement (LG&E & KU Energy LLC)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employmentCompany, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company following a Change in Control4 hereof. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 2 contracts

Samples: Agreement (Toms Foods Inc), Agreement (Toms Foods Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employmentcovenants in Section 4, the Company agreesCompany, under the conditions described herein, to shall pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement9.1, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company Terminating Event following a Change in ControlControl (or during a Potential Change in Control Change in Control Severance Agreement Period) and during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 2 contracts

Samples: Change in Control Severance Agreement, Change in Control Severance Agreement (Mercury Computer Systems Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s 's continued employment, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s 's employment with the Company following a Change in Control. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 2 contracts

Samples: Kaman Corporation (Kaman Corp), Kaman Corporation (Kaman Corp)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s 's continued employment, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s 's employment with the Company upon or following a Change in Control. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 1 contract

Samples: Kaman Corporation (KAMAN Corp)

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Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s 's continued employment, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s 's employment with the Company following a during the Change in ControlControl Period. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 1 contract

Samples: Change in Control Agreement (Matthews International Corp)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment's covenants set forth in Section 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the CIC Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement, no CIC Severance Payments (as defined in Section 5) shall not be payable under this Agreement unless there shall have been a termination of the Executive’s 's employment with the Company following a Change in Controlduring the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 1 contract

Samples: Severance Agreement (Compuware Corp)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment's covenants set forth in Section 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement9.1 hereof, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s 's employment with the Company following a Change in Controlduring the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 1 contract

Samples: Severance Agreement (Harvard Industries Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment's covenants set forth in Section 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement9.1 hereof, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s 's employment with the Company following a Change in ControlControl and during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 1 contract

Samples: Severance Agreement (Barnes Group Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employmentcovenants set forth in Section 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement9.1 hereof, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been the Executive has a termination of the Executive’s employment with the Company Separation from Service following a Change in ControlControl and during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 1 contract

Samples: Severance Agreement (Barnes Group Inc)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employment, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company upon or following a Change in Control. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 1 contract

Samples: Change in Control Agreement (KAMAN Corp)

Company's Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s continued employmentcovenants in Section 4, the Company agreesCompany, under the conditions described herein, to shall pay the Executive the Severance Payments and the other payments and benefits described in this Agreementherein. Except as provided in Section 5.1 of this Agreement9.1, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company Terminating Event following a Change in ControlControl (or during a Potential Change in Control Period) and during the Term. This Agreement shall not be construed as creating an express or Change in Control Severance Agreement implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Mercury Computer Systems Inc)

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