Common use of Hostile Take-Over Clause in Contracts

Hostile Take-Over. Notwithstanding any other provision of this Agreement, any termination by the Employee of his employment with the Company, for any reason or no reason, during the 30-day period immediately following the 180th day after the completion of the Hostile Take-Over (as defined in the Company’s 1999 Stock Incentive Plan, as amended through July 1, 2002) shall be treated for purposes of this Agreement as a termination for Good Reason.

Appears in 6 contracts

Samples: Employment Agreement (Ecollege Com), Employment Agreement (Ecollege Com), Employment Agreement (Ecollege Com)

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Hostile Take-Over. Notwithstanding any other provision of this Agreement, any termination by the Employee of his her employment with the Company, for any reason or no reason, during the 30-day period immediately following the 180th day after the completion of the Hostile Take-Over (as defined in the Company’s 1999 Stock Incentive Plan, as amended through July 1, 2002) shall be treated for purposes of this Agreement as a termination for Good Reason.

Appears in 2 contracts

Samples: Employment Agreement (Ecollege Com), Employment Agreement (Ecollege Com)

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