LIMITATIONS UPON OBLIGATION TO MAKE PAYMENT. The Employer shall not be required to make payment under paragraph 6.1(c) or 6.2(b), above, if: (a) the Employee dies while employed by the Employer; or (b) the Employee's employment is terminated or the Employee is transferred as a result of or in connection with a corporate reorganization, the sale of a subsidiary, a sale of assets, a transfer of a division, reincorporation, or any similar event, if as part of such event the Employee is employed or is offered employment by any successor entity in the same position with no Change in Duties or Compensation as defined by paragraph 7.3, and either such successor has assumed, or the Employer agrees to remain liable under, this Agreement.
Appears in 8 contracts
Samples: Employment Agreement (First Security Corp /Ut/), Employment Agreement (First Security Corp /Ut/), Employment Agreement (First Security Corp /Ut/)
