Common use of Operation and Term of Agreement Clause in Contracts

Operation and Term of Agreement. This Agreement shall amend and restate the Prior Agreement effective immediately upon its execution. This Agreement may be terminated by the Company upon 24 months' advance written notice to the Executive; provided, however, that after a Change in Control of the Company during the term of this Agreement, this Agreement shall remain in effect until all of the obligations of the parties under the Agreement are satisfied and the Protection Period (as defined below) has expired. Prior to a Change in Control this Agreement shall immediately terminate upon termination of the Executive's employment or upon the Executive's ceasing to be an elected officer of the Company, except in the case of such termination under circumstances set forth in Section 2(g), 3, 4, or 5 below.

Appears in 2 contracts

Samples: Severance and Change (Eastgroup Properties Inc), Severance and Change in Control Agreement (Eastgroup Properties Inc)

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Operation and Term of Agreement. This Agreement shall amend and restate the Prior Agreement be effective immediately upon its execution. This Agreement may be terminated by the Company upon 24 twenty-four (24) months' advance written notice to the Executive; providedPROVIDED, howeverHOWEVER, that after a Change in Control of the Company during the term of this Agreement, this Agreement shall remain in effect until all of the obligations of the parties under the Agreement hereunder are satisfied and the Protection Period (as defined below) has expired. Prior to a Change in Control this Agreement shall immediately terminate upon termination of the Executive's employment or upon the Executive's ceasing to be an elected officer of the Company, except in the case of such termination under circumstances set forth in Section 2(g), 3, 4, or 5 2(e) below.

Appears in 2 contracts

Samples: Control Agreement (American Precision Industries Inc), Change in Control Agreement (American Precision Industries Inc)

Operation and Term of Agreement. This Agreement shall amend and restate the Prior Agreement effective immediately upon its executionJanuary 1, 2009. This Agreement may be terminated by the Company upon 24 months' advance written notice to the Executive; provided, however, that after a Change in Control of the Company during the term of this Agreement, this Agreement shall remain in effect until all of the obligations of the parties under the Agreement are satisfied and the Protection Period (as defined below) has expired. Prior to a Change in Control this Agreement shall immediately terminate upon termination Termination of the Executive's employment or upon the Executive's ceasing to be an elected officer of the Company, except in the case of such termination Termination under circumstances set forth in Section 2(g), 3, 4, or 5 4 below.

Appears in 2 contracts

Samples: Severance and Change in Control Agreement (Eastgroup Properties Inc), Control Agreement (Eastgroup Properties Inc)

Operation and Term of Agreement. This Agreement shall amend and restate the Prior Agreement be effective immediately upon its execution. This Agreement may be terminated by the Company upon 24 months' advance written notice to the Executive; providedPROVIDED, howeverHOWEVER, that after a Change in Control of the Company during the term of this Agreement, this Agreement shall remain in effect until all of the obligations of the parties under the Agreement are satisfied and the Protection Period (as defined below) has expired. Prior to a Change in Control this Agreement shall immediately terminate upon termination of the Executive's employment or upon the Executive's ceasing to be an elected officer of the Company, except in the case of such termination under circumstances set forth in Section 2(g), 3, 4, or 5 2(e) below.

Appears in 1 contract

Samples: Change In (Eastgroup Properties)

Operation and Term of Agreement. This Agreement shall amend and restate the Prior Agreement be ------------------------------- effective immediately upon its execution. This Agreement may be terminated by the Company upon 24 twenty-four (24) months' advance written notice to the Executive; provided, -------- however, that after a Change in Control of the Company during the term of this ------- Agreement, this Agreement shall remain in effect until all of the obligations of the parties under the Agreement hereunder are satisfied and the Protection Period (as defined below) has expired. Prior to a Change in Control this Agreement shall immediately terminate upon termination of the Executive's employment or upon the Executive's ceasing to be an elected officer of the Company, except in the case of such termination under circumstances set forth in Section 2(g), 3, 4, or 5 2(e) below.

Appears in 1 contract

Samples: Change in Control Agreement (American Precision Industries Inc)

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Operation and Term of Agreement. This Agreement shall amend commence on the date set forth above and restate the Prior shall terminate on December 31, 2009 unless this Agreement effective immediately upon its execution. This Agreement may be is terminated by the Company upon 24 months' advance written notice to the Executiveearlier, as set forth below; provided, however, that after in the event of a Change in Control of the Company and a termination of the Executive’s employment by the Company not for Cause or a termination by the Executive for Good Reason during the term of this Agreement, this Agreement shall remain in effect until all of the obligations of the parties under hereunder are satisfied. Notwithstanding the Agreement are satisfied and the Protection Period (as defined below) has expired. Prior foregoing, prior to a Change in Control this Agreement shall immediately terminate upon termination of the Executive's employment or upon the Executive's ceasing to be an elected officer of the Company’s employment, except in the case of such termination under circumstances set forth in the last paragraph of Section 2(g), 3, 4, or 5 4 below.

Appears in 1 contract

Samples: Change in Control Agreement (Gentiva Health Services Inc)

Operation and Term of Agreement. This Agreement shall amend and restate the Prior Agreement be effective immediately upon its execution. This Agreement may be terminated by the Company upon 24 six (6) months' advance written notice to the Executive; provided, however, that after a Change in Control of the Company during the term of this Agreement, this Agreement shall remain in effect until all of the obligations of the parties under the Agreement are satisfied and the Protection Period (as defined below) has expired. Prior to a Change in Control this Agreement shall immediately terminate upon termination of the Executive's employment or upon the Executive's ceasing to be an elected officer of the Company, except in the case of such termination under circumstances set forth in Section 2(g), 3, 4, or 5 2(e) below.

Appears in 1 contract

Samples: Change in Control Agreement (Eastgroup Properties Inc)

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