Coordination with Employment Contract Clause Samples
The Coordination with Employment Contract clause ensures that the terms of the current agreement are aligned with, and do not conflict with, the provisions of an employee's existing employment contract. In practice, this clause may specify that if there is any inconsistency between the two documents, the employment contract will take precedence, or it may require the parties to resolve discrepancies in a specified manner. Its core function is to prevent legal disputes and confusion by clarifying which agreement governs in the event of overlapping or conflicting obligations.
Coordination with Employment Contract. Payments to the Executive under article III of this Agreement shall be in lieu of any payments for breach of any employment contract between the Executive and the Company to which the Executive may be entitled by reason of a Qualifying Termination, and, before making the payments to the Executive provided under article III hereof, the Company may require the Executive to execute a waiver of any rights that he may have to recover payments in respect of a breach of such contract as a result of a Qualifying Termination. If the Executive has a Good Reason to resign and does so by providing the notice specified in the last sentence of section l.4 of this Agreement, he shall be deemed to have satisfied any notice requirement for resignation, and any service requirement following such notice, under any employment contract between the Executive and the Company.
Coordination with Employment Contract. The payments and benefits required by Article 2 hereof shall be in lieu of (and not in addition to) any payments under an Other Arrangement to which the Executive might have a claim by reason of a Qualifying Termination (for example, severance payments), whether such Other Arrangement is executed before or after the date hereof, unless expressly provided otherwise in such Other Arrangement; provided that if Other Arrangements provide for a payment (or payments) by reason of a Qualifying Termination that is (or are) larger in the aggregate (determined without regard to the time value of money) than the severance payment prescribed by Section 2.1 hereof, the Company shall pay the Executive the larger amount (in lieu of the amount prescribed by Section 2.1, and without any adjustment for interest) in a lump sum (without any discount to reflect the time value of money) at the time prescribed by Section 2.1 (or such later date as required by Section 2.5 hereof). If the Executive resigns for Good Reason, he shall be deemed to have satisfied any notice requirement for resignation, and any service requirement following such notice, under any employment contract between the Executive and Interpublic or a Subsidiary.
Coordination with Employment Contract. Payments to the Executive under article III of this Agreement shall be in lieu of any payments for breach of any employment contract between the Executive and the Company to which the Executive may be entitled by reason of a Qualifying Termination, and, before making the payments to the Executive provided under article III hereof, the Company may require the Executive to execute a waiver of any rights that he may have to recover payments in respect of a breach of such contract as a result of a Qualifying Termination, (except for the amount due under Sections 7.01(iv) and (v), 7.06 and 7.09 of Executive' s Employment Agreement. If the Executive has a Good Reason to resign and does so by providing the notice specified in the last sentence of section l.4 of this Agreement, he shall be deemed to have satisfied any notice requirement for resignation, and any service requirement following such notice, under any employment contract between the Executive and the Company.
Coordination with Employment Contract. This Agreement is the Confidentiality and Restrictive Covenants Agreement described in Section 12 of the Employment Contract. To the extent of any inconsistency between this Agreement and the Employment Contract, the applicable provision in the Employment Contract shall control.
Coordination with Employment Contract. Payments to the Executive under article III of this Agreement shall be in lieu of any payments for breach of any employment contract between the Executive and the Company to which the Executive may be entitled by reason of a Qualifying Termination, and, before making the payments to the Executive provided under article III hereof, the Company may require the Executive to execute a waiver of any rights that she may have to recover payments in respect of a breach of such contract as a result of a Qualifying Termination. If the Executive has a Good Reason to resign and does so by providing the notice specified in the last sentence of section l.4 of this Agreement, she shall be deemed to have satisfied any notice requirement for resignation, and any service requirement following such notice, under any employment contract between the Executive and the Company.
Coordination with Employment Contract. This Agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the employment of Executive by the Company and the compensation payable therefor; PROVIDED, that that certain employment agreement between Executive and the Company dated as of May 9, 1995, as extended (the "Employment Agreement"), shall be superseded only with respect to those matters that are addressed herein, including but not limited to (i) the right of Executive to receive grants of options, restricted stock or other equity based compensation with respect to his employment with the Company, (ii) the definition of "Cause" and the circumstances under which Executive may be terminated therefor and (iii) the method by which disputes regarding Executive's employment with the Company may be resolved. In the event of any other conflicts between the terms of the Employment Agreement and this Agreement, the terms of this Agreement shall prevail. In all other respects, the Employment Agreement shall remain in effect in accordance with its terms as in effect on the date hereof.