Common use of Purpose of Addendum Clause in Contracts

Purpose of Addendum. This Addendum shall supplement that certain Employment Agreement entered between Employer and Employee dated the 1st day of February, 1999 (the "Employment Agreement") and where inconsistent with said Employment Agreement, this Addendum shall control. In the event Employee's employment with Employer is terminated subsequent to a "change in control of Employer" (as defined in Section 2 below) under the circumstances described below, Employer agrees that, in addition to all compensation and benefits payable to Employee pursuant to the Employment Agreement, Employee shall receive the additional severance benefits set forth in this Addendum.

Appears in 2 contracts

Samples: Employment Agreement (Onlinetradinginc Com Corp), Employment Agreement (Onlinetradinginc Com Corp)

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Purpose of Addendum. This Addendum shall supplement that certain Employment Agreement employment agreement entered between Employer employer and Employee employee dated the 1st day of February, 1999 (the "Employment Agreementemployment agreement") and where inconsistent with said Employment Agreementemployment agreement, this Addendum shall control. In the event Employeeemployee's employment with Employer employer is terminated subsequent to a "change in control of Employeremployer" (as defined in Section 2 below) under the circumstances described below, Employer employer agrees that, in addition to all compensation and benefits payable to Employee employee pursuant to the Employment Agreementemployment agreement, Employee employee shall receive the additional severance benefits set forth in this Addendum.

Appears in 1 contract

Samples: Addendum (Onlinetradinginc Com Corp)

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Purpose of Addendum. This Addendum shall supplement that certain Employment Agreement employment agreement entered between Employer and Employee dated the 1st day of February, 1999 (the "Employment Agreement") and where inconsistent with said Employment Agreement, this Addendum shall control. In the event Employee's employment with Employer is terminated subsequent to a "change in control of Employer" (as defined in Section 2 below) under the circumstances described below, Employer agrees that, in addition to all compensation and benefits payable to Employee pursuant to the Employment Agreement, Employee shall receive the additional severance benefits set forth in this Addendum.

Appears in 1 contract

Samples: Addendum (Onlinetradinginc Com Corp)

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