Common use of Services Performed Clause in Contracts

Services Performed. If the Executive is a key employee as of an identification date, the Executive is treated as a key employee for the 12-month period beginning on the first day of the fourth month following the identification date. The identification date for this Agreement shall be September 30 of each year, such that if the Executive satisfies the foregoing requirements for key employee status as of September 30 of a year, the Executive shall be treated as a key employee for the following calendar year. If, in the transaction constituting a Change in Control of the Company, the Company is merged with or acquired by another entity, and immediately following the Change in Control of the Company the stock of either the Company or the acquirer or successor in such transaction is publicly traded on an established securities market or otherwise, then for the period between the date of such transaction and the next specified employee effective date of the acquirer or survivor, the acquirer or survivor shall combine the lists of the specified employees of each entity participating in the transaction and re-order the list to identify the top 50 key employees (as well as 1% and 5% owners that are considered key employees) in accordance with Treasury Regulations §1.409A-1(i)(6)(i).