Common use of Contingent on Transaction Clause in Contracts

Contingent on Transaction. The effective date (“Effective Date”) of the employment terms in this Agreement shall be contingent upon and concurrent with the “Closing Date” as defined in that certain Agreement and Plan of Merger, dated October 6, 2021, by and among the Company, Supernova Partners Acquisition Company II, Ltd., Supernova Merger Sub, Inc. and Supernova Romeo Merger Sub, LLC (the “Merger Agreement”) and, contingent on occurrence of the Closing Date, the terms of this Agreement shall supersede and replace the prior offer letter in effect between Company and Executive as of the Effective Date. If the transactions contemplated by the Merger Agreement do not close, this Agreement shall have no effect and shall terminate as of the termination of the Merger Agreement, and neither the Company nor the Executive shall have obligations hereunder. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Merger Agreement.

Appears in 7 contracts

Samples: Executive Employment Agreement (Rigetti Computing, Inc.), Executive Employment Agreement (Supernova Partners Acquisition Co II, Ltd.), Executive Employment Agreement (Supernova Partners Acquisition Co II, Ltd.)

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Contingent on Transaction. The effective date (“Effective Date”) of the employment terms in this Agreement shall be contingent upon and concurrent with the “Closing Date” as defined in that certain Agreement and Plan of Merger, dated October 6, 2021, by and among the Company, Supernova Partners Acquisition Company II, Ltd., Supernova Merger Sub, Inc. and Supernova Romeo Merger Sub, LLC (the “Merger Agreement”) and, contingent on occurrence of the Closing Date, the terms of this Agreement shall supersede and replace the prior offer letter in effect between Company and Executive Employee as of the Effective Date. If the transactions contemplated by the Merger Agreement do not close, this Agreement shall have no effect and shall terminate as of the termination of the Merger Agreement, and neither the Company nor the Executive Employee shall have obligations hereunder. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Merger Agreement.

Appears in 3 contracts

Samples: Executive Employment Agreement (Supernova Partners Acquisition Co II, Ltd.), Executive Employment Agreement (Supernova Partners Acquisition Co II, Ltd.), Executive Employment Agreement (Supernova Partners Acquisition Co II, Ltd.)

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