Common use of Effect of a Trigger Event Clause in Contracts

Effect of a Trigger Event. (a) It is the belief of the parties that any transfer of ownership control of the Company after the date hereof shall be reflective of Employee's contributions to the performance of the Company, and that Employee should be compensated accordingly. Therefore, the parties agree that Employee shall receive the additional payment set forth in Section 10(c) below in the event that after the date of this Agreement, and during the Term(s) hereof, a Trigger Event, as defined in Section 19(b) below, occurs.