Employment Continuation. Notwithstanding the covenants of Purchasers and their Affiliates set forth in Sections 6.1 and 6.2, nothing contained in this Article VI: (i) shall limit or condition the ability of Purchasers, the Transferred Entities, or any of their respective Affiliates to terminate, either with or without “cause,” the employment of any Transferred Entity Employees at any time; (ii) shall alter or limit the ability of Purchasers, the Transferred Entities, or any of their respective Affiliates to amend, modify or terminate any benefit plan, program, agreement or arrangement at any time assumed, established, sponsored or maintained by any of them; or (iii) is intended to confer upon any current or former employee or any Person any right to employment or continued employment for any period of time by reason of this Agreement, or any right to a particular term or condition of employment.
Employment Continuation. If the Employee has a "Purchase Note" outstanding under the Exercise Agreement or the "Unamortized Premium Payment" under the Split Dollar Agreement is greater than zero, the Employee shall have the right either (i) in lieu of delivering a Notice of Termination in accordance with Section 4.1 or (ii) within thirty (30) days of the Company's delivery of a Notice of Termination in accordance with Section 4.2 (other than in connection with a Termination for Employee's Misconduct), to deliver a Notice of Employment Continuation. If applicable, the Employee may specify in such Notice of Employment Continuation that Good Reason exists. The period for delivery of a Notice of Employment Continuation shall be subject to extension in accordance with Section 4.10. Upon the delivery of a Notice of Employment Continuation, this Agreement shall terminate and be of no further force or effect and Employee's employment with the Company shall be governed instead by a Supplemental Employment Agreement in the form of Exhibit 4.11 hereto that will be executed and delivered by the Company and the Employee immediately upon the delivery of such Notice of Employment Continuation.
Employment Continuation. All individuals employed by, or on authorized leave of absence from, Company or any Company Subsidiary immediately before the Effective Time shall automatically become employees of Purchaser or a Purchaser Subsidiary as of the Effective Time.
Employment Continuation. Provided the Employee (i) complies with all material Company policies, and (ii) executes and delivers this Agreement, including the First Release and Waiver set forth in Section 12 (the “First Release”), to the Company no later than 5:00 pm ET on May 23, 2023 (the “First Release Date”), then the Employee’s employment by the Company shall end, subject to the terms of this Agreement, on May 15, 2025 (the “End Date”). The Employee shall continue receiving his current base salary and benefits through the End Date except his base salary and target bonus percentage for fiscal 2025, which shall be determined by the Company. The Company reserves the right to terminate the Employee’s employment by the Company prior to the End Date if: (i) the Employee enters into new employment; (ii) the Employee breaches any material policy of the Company; or (iii) the Employee breaches any term or condition of this Agreement. With respect to subsections (ii) and (iii), prior to termination the Employee shall be given notice of the claimed breach and, if the breach is capable of being cured, a period of ten (10) days in which to cure it. From May 2, 2024, through May 8, 2024 (the “Transition Date”), the Employee shall continue in his current role and performing his current work duties. From the Transition Date through the End Date, the Employee shall: (a) have the title of Executive Vice President; (b) continue reporting to the President and Chief Executive Officer; and (c) perform duties assigned to him by the President and Chief Executive Officer, including but not limited to transition support, profit improvement initiatives, and special projects. Following the End Date, the Employee shall have no rights to any compensation or other benefits not expressly provided in this Agreement.
Employment Continuation. The Continuing Employees listed on Section 5.2(l) of the Disclosure Schedule shall have accepted Taconic’s offer of employment and executed all employment-related documents requested by Taconic.
Employment Continuation. Effective July 25, 2008, you resigned as an officer of Precision Castparts Corp. (“PCC”) and as a director and officer of the subsidiaries for which you serve as a director or officer. Upon execution of this Agreement, PCC will cause Xxxxx-Xxxxxx Forgings, Inc. (“Xxxxx-Xxxxxx”) to continue your employment from July 25, 2008 through December 31, 2008 (the “Termination Date”), subject to earlier termination pursuant to paragraph 7, below (the “Continuation Period”). You will have no formal duties or authorities during the Continuation Period to PCC and any of its subsidiaries or affiliates (hereafter collectively referred to as the “Company”) except to make yourself available upon request of your successor or Xxxx Xxxxxxx to provide information or assistance as they reasonably determine, and to fulfill such reasonable requests in a professional and workmanlike manner and in compliance with Company policies.
Employment Continuation. Rural/Metro's obligations under this Agreement are expressly conditioned on the continuation of Consultant's employment with Rural/Metro through January 1, 1998 pursuant to the terms and conditions of the Employment Agreement previously entered into between Rural/Metro and Consultant. If the Employment Agreement or Consultant's employment with Rural/Metro is terminated for any reason by either Rural/Metro or Consultant prior to January 1, 1998, this Consulting Agreement will become null and void without any further action of any party.
Employment Continuation. If the Employee has a "Purchase Note" outstanding under the Exercise Agreement or the "Unamortized Premium Payment" under the Split Dollar Agreement is greater than zero, the Employee shall have the right either (i) in lieu of delivering a Notice of Termination in accordance with Section 4.1 or (ii) within thirty (30) days of the Company's delivery of a Notice of Termination in accordance with Section 4.2, to deliver a "Notice of Employment Continuation." Upon the delivery of a Notice of Employment Continuation, this Agreement shall terminate and be of no further force or effect and Employee's employment with the Company shall be governed instead by a Supplemental Employment Agreement in the form of Exhibit 4.5 hereto that will be executed and delivered by the Company and the Employee immediately upon the delivery of such Notice of Employment Continuation.
Employment Continuation. RGA will permit Xxxxxxxx to remain employed with RGA through June 30, 2016. During this period, Xxxxxxxx will make himself available to RGA as it may reasonably require to assist with transition of work, but, otherwise, Xxxxxxxx will generally be relieved of the obligation to provide services to RGA. Should RGA require the assistance of Xxxxxxxx during this period, it will provide Xxxxxxxx reasonable notice of any such request for assistance, and will consider, as appropriate, Xxxxxxxx’x personal circumstances at the time of the request. RGA is willing to provide this continued employment to Xxxxxxxx so that he will attain a service milestone with RGA that will: (i) provide an extra year of pension qualification service; and (ii) entitle Xxxxxxxx to receive retiree medical coverage with 100% of Xxxxxxxx’x premiums and 50% of eligible dependent premiums paid by RGA, subject to the terms and conditions of the RGA medical plan, and any future change or elimination of that benefit.
Employment Continuation. All individuals employed by, or on authorized leave of absence from, CBC or any CBC Subsidiary immediately before the Effective Time will automatically become employees of ChoiceOne or a ChoiceOne Subsidiary as of the Effective Time.
