Effectiveness/Prior Agreements. This Agreement shall be binding on Employee and Employer as of the date hereof. If the Effective Time does not occur, this Agreement shall be of no force and effect. As of the Effective Time, the Prior Agreement shall terminate and no payments shall thereafter be made thereunder. Under no circumstances shall the Closing or the Acquisition or any shareholder approval thereof or any event relating thereto be deemed a "Change of Control" for any purposes under the Prior Agreement. This Agreement will constitute the entire agreement between Employer and Employee and will supersede all prior negotiations and written or oral agreements with respect to the full time employment of Employee by Employer, including the Prior Agreement and all other prior employment agreements between Employee and Employer or any of its predecessors, except as explicitly provided herein. No changes, alterations or modifications may be made to this Agreement, except by a writing signed by each of the parties hereto.
Effectiveness/Prior Agreements. (a) This Agreement shall become effective as of the Closing. At the Closing, this Agreement shall supersede all prior employment agreements and arrangements between the parties ("Prior Agreements"), including without limitation the Prior Contract, and both the Employee and PharMerica shall cease to have any obligations thereunder. Notwithstanding any other provision of this Agreement, all provisions of this Employment Agreement other than this Section 1 shall terminate and be null and void ab initio after any termination of the Merger Agreement without consummation of the Merger; in such event, the Prior Contract shall be reinstated in such form as the Prior Contract existed immediately prior to the execution of the Merger Agreement.
Effectiveness/Prior Agreements. This Agreement shall be binding on all parties as of the date hereof. If the Effective Time does not occur, this Agreement shall be of no force and effect. As of the Effective Time, the Prior Agreement shall terminate and no payments shall thereafter be made thereunder. Under no circumstances shall the consummation of the Transactions, shareholder approval thereof or any other event relating thereto be deemed a "Change of Control" for any purposes under the Prior Agreement. This Agreement will constitute the entire agreement between Employer and Employee and will supersede all prior negotiations and written or oral agreements with respect to the full time employment of Employee by Employer, including the Prior Agreement and all other prior employment agreements between Employee and Employer, excluding the Amended and Restated Agreement between Employee and Employer dated June 1, 2001 except as explicitly provided herein. No changes, alterations or modifications may be made to this Agreement, except by a writing signed by each of the parties hereto, provided that no changes, alterations or modifications may be made to this Agreement prior to the Effective Time without the consent of K Holdings and, for such purposes, K Holdings shall be a third party beneficiary to this Section 16.
