Rights Following a Change in Control Sample Clauses

Rights Following a Change in Control. In the event of a Change in Control, the Executive shall be entitled to act with respect to this Employment Agreement as provided in section 13.5, and to all payments and benefits provided in Section 13.3, provided that such payments, together with the additional consideration described in this section, shall be paid in a lump sum and without any discount or reduction, or in the case of non-monetary consideration, delivered to the Executive before or contemporaneously with the consummation of the Change in Control. In addition, the Employer shall (i) promptly upon a Change in Control, assign to the Executive clean title to the chauffeur-driven limousine then being furnished by the Employer to the Executive in connection with his employment by the Company, (ii) contribute as salary and expenses the first $25,000 of the costs associated with the driver of such limousine, in accordance with past practice, for the first year following the date of the Change in Control, and (iii) promptly upon a Change in Control, make all lease payments remaining due on the 2000 Mercedes 500 S currently being leased, or on such other vehicle as is then being leased, by the Employer for the Executive's use, in a lump sum, together with any required vehicle acquisition fee, and assign all right, title and interest in the purchase option to such vehicle to the Executive. In addition: (a) any application of Section 13.1.3(d) of this Employment Agreement by the Employer or the Company shall be suspended from the Employer's or the Company's entry into any agreement contemplating a Change in Control, and deemed stricken from this Employment Agreement and rescinded upon the consummation of any Change in Control; and (b) Section 16 of this Employment Agreement immediately, and without additional action, shall be deemed and rendered null, void, and without any effect as against the Executive upon the consummation of the Change in Control. The Executive shall forfeit any rights granted pursuant to this Section 13.4 if the Executive, in his sole and absolute discretion and without any obligation whatsoever to do so, determines that he will accept a written offer to remain with the surviving company in an executive position with equivalent duties, authority and responsibility as the Executive currently holds (other than as a non-employee director).
Sample 1
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Rights Following a Change in Control. In the event of a Change in Control, the Executive shall be entitled to act with respect to this Employment Agreement as provided in section 13.5, and to all payments and benefits provided in section 13.3, provided that such payments, together with the additional consideration described in this section, shall be paid in a lump sum and without any discount or reduction, or in the case of non-monetary consideration, delivered to the Executive before or contemporaneously with the consummation of the Change in Control. In addition, all previously granted but unvested options to purchase Company stock granted to the Executive immediately shall vest fully in the Executive and remain exercisable for the full period of the initial option grant or ten years, whichever is greater. In addition: (a) any application of Section 13.1.3(d) of this Employment Agreement by the Employer or the Company shall be suspended from the Employer's or the Company's entry into any agreement contemplating a Change in Control, and deemed stricken from this Employment Agreement and rescinded upon the consummation of any Change in Control; and (b) Section 16 of this Employment Agreement immediately, and without additional action, shall be deemed and rendered null, void, and without any effect as against the Executive upon the consummation of
Sample 1
Rights Following a Change in Control. In the event of a Change in Control, the Executive shall be entitled to act with respect to this Employment Agreement as provided in section 13.5, and to all payments and benefits provided in section 13.3, provided that such payments, together with the additional consideration described in this section, shall be paid in a lump sum and without any discount or reduction, or in the case of non-monetary consideration, delivered to the Executive before or contemporaneously with the consummation of the Change in Control. In addition, all previously granted but unvested options to purchase Company stock immediately shall vest fully in the Executive and remain exercisable for the full period of the initial option grant or ten years, whichever is greater. In addition: (a) any application of Section 13.1.3(d) of this Employment Agreement by the Employer or the Company shall be suspended from the Employer's or the Company's entry into any agreement contemplating a Change in Control, and deemed stricken from this Employment Agreement and rescinded upon the consummation of any Change in Control; and (b) Section 16 of this Employment Agreement immediately, and without additional action, shall be deemed and rendered null, void, and without any effect as against the Executive upon the consummation of the Change in Control. The Executive shall forfeit any rights granted pursuant to this Section 13.4 if the Executive, in his sole and absolute discretion and without any obligation whatsoever to do so, determines that he will accept a written offer to remain with the surviving company in an executive position with equivalent duties, authority and responsibility as the Executive currently holds (other than as a non-employee director).
Sample 1

Related to Rights Following a Change in Control

  • Termination Following a Change in Control (a) In the event of the occurrence of a Change in Control, the Executive's employment may be terminated by the Company or a Subsidiary during the Severance Period and the Executive shall be entitled to the benefits provided by Section 4 unless such termination is the result of the occurrence of one or more of the following events:

  • Following a Change in Control If, within thirty-six (36) months following a Change in Control, the Executive (i) is terminated without Cause, or (ii) resigns for Good Reason (as defined and qualified in Section 9(f) above), then the Executive will be entitled to receive (i) all Base Salary and benefits to be paid or provided to the Executive under this Agreement through the Date of Termination, (ii) the amount of any cash bonus related to any year ending before the Date of Termination that has been earned but remains unpaid, (iii) an amount equal to two hundred ninety-nine percent (299%) of the Adjusted Bonus Amount, (iv) an amount equal to two hundred ninety-nine percent (299%) of the Executive’s Base Salary, (v) notwithstanding anything to the contrary in any equity incentive plan or agreement, all equity incentive awards which are then outstanding, to the extent not then vested, shall vest, (vi) health insurance benefits substantially commensurate with the Company’s standard health insurance benefits for the Executive and the Executive’s spouse and dependents through the third anniversary of the Date of Termination; provided, however, that such continued benefits shall terminate on the date or dates Executive receives substantially similar coverage and benefits, without waiting period or pre-existing condition limitations, under the plans and programs of a subsequent employer (such coverage and benefits to be determined on a coverage-by-coverage or benefit-by-benefit basis); provided further, that any continued health insurance benefits which are provided under this Agreement (including benefits under Section 9(m)) shall run concurrently with any continuation coverage that the Executive or the Executive’s spouse and dependents are entitled to under COBRA and any rights (including the length of coverage) that the Executive and the Executive’s spouse and dependents may be entitled to under COBRA shall not be increased (or extended) due to any continued health insurance benefits which may be provided to the Executive and the Executive’s spouse or dependents pursuant to this Agreement, and (vii) any other unpaid benefits to which the Executive is otherwise entitled under any plan, policy or program of the Company applicable to the Executive as of the Date of Termination (such benefits shall be paid in accordance with the provisions of the applicable arrangements). The amounts referred to in clauses (i) through (iv) above will collectively be referred to as the “Change in Control Severance Amount.” The Change in Control Severance Amount will be paid to the Executive in a lump sum no later than sixty (60) days following the Date of Termination, with the date of such payment determined by the Company in its sole discretion. The Executive agrees to execute, deliver and not revoke a general release in the form attached as Exhibit A. Payments pursuant to this Section 9(h) will be made in lieu of, and not in addition to, any payment pursuant to any other paragraph of this Section 9.

  • Termination Following a Change of Control If the Employee's employment terminates at any time within eighteen (18) months following a Change of Control, then, subject to Section 5, the Employee shall be entitled to receive the following severance benefits:

  • Termination Upon or Following a Change of Control (a) A Change of Control of the Company ("Change of Control") shall be deemed to have occurred upon the happening of any of the following events:

  • Upon a Change in Control If a Change in Control shall have occurred at any time during the period in which this Agreement is effective, this Agreement shall continue in effect for (i) the remainder of the month in which the Change in Control occurred and (ii) a term of 12 months beyond the month in which such Change in Control occurred (such entire period hereinafter referred to as the "Protected Period"). Note that in certain circumstances defined and set forth below, provisions of this Agreement shall survive for longer than the period described above.

  • Termination of Employment Following a Change in Control Notwithstanding the provisions of Section 6.3 hereof to the contrary, if the Employee’s employment by the Company is terminated by the Company in accordance with the terms of Section 4 of the Termination Agreement and the Employee is entitled to benefits provided in Section 5 of the Termination Agreement, the Company shall pay to the Employee, in a lump sum in cash within 30 days after the Date of Termination, the aggregate of the Employee’s Base Salary (as in effect on the Date of Termination) through the Date of Termination, if not theretofore paid, and, in the case of compensation previously deferred by the Employee, all amounts of such compensation previously deferred shall be paid in accordance with the plan documents governing such deferral. Except with respect to the obligations set for forth in the Termination Agreement, notwithstanding any provisions herein to the contrary, all other obligations of the Company and rights of the Employee hereunder shall terminate effective as of the Date of Termination.

  • Termination Following Change in Control If a Change in Control shall have occurred during the term of this Agreement, the Executive shall be entitled to the benefits provided in subsection 4(d) unless such termination is (A) because of the Executive's death or Retirement, (B) by the Company for Cause or Disability, or (C) by the Executive other than for Good Reason.

  • Prior to a Change in Control If the Final Measurement Date occurs prior to a Change in Control, the Award will be settled in shares of Tyson Class A common stock no later than sixty (60) days after the Final Measurement Date; provided, however, that if the 60-day period for execution and non-revocation of a Release pursuant to Section 3.3 above will span two (2) calendar years, then the settlement of the Award will occur as soon as practicable after, but no earlier than, the first (1st) day of the second (2nd) calendar year.

  • Termination Following Change of Control Should Employee at any time within two years of a change of control cease to be an employee of the Company (or its successor), by reason of (i) involuntary termination by the Company (or its successor) other than for "cause" (following a change of control), "

  • After a Change in Control (i) From and after the date of a Change in Control (as defined in section 3(a) hereof) during the term of this Agreement, the Company shall not terminate the Employee from employment with the Company except as provided in this section 2(b), or as a result of the Employee's Disability (as defined in section 3(d) hereof) or his death.

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