Common use of Term and Employment Period Clause in Contracts

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced on the Effective Date will end on the date of Employee’s Termination. The term of this Agreement shall commence on the Effective Date and end on the first anniversary of the Effective Date. On the first anniversary of the Effective Date, and each anniversary thereafter, the Employment Period will be automatically extended for one (1) year such that the Employment Period on the date of each such extension shall be one (1) year; provided, however , that the Company or Employee may give written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than ninety (90) days after the date that the notice of non-renewal was given. Notwithstanding the above, the Employment Period will expire upon Employee’s Termination for any reason including Covered Termination, Constructive Termination, Disability, death, Cause or Voluntary Resignation. Employee agrees to provide thirty (30) days written notice of any Voluntary Resignation. Immediately upon Termination, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 2 contracts

Samples: Confidentiality Agreement (Seahawk Drilling, Inc.), Confidentiality Agreement (Seahawk Drilling, Inc.)

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Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced on the Effective Date will end on the date of Employee’s Termination. The term of this Agreement shall commence on the Effective Date and end on the first second anniversary of the Effective Date. On the first second anniversary of the Effective Date, and each anniversary thereafter, the Employment Period will be automatically extended for one (1) year such that the Employment Period on the date of each such extension shall be one (1) year; provided, however , that the Company or Employee may give written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than ninety (90) days after the date that the notice of non-renewal was given. Notwithstanding the above, the Employment Period will expire upon Employee’s Termination for any reason including Covered Termination, Constructive Termination, Disability, death, Cause or Voluntary Resignation. Employee agrees to provide thirty (30) days written notice of any Voluntary Resignation. Immediately upon Termination, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 2 contracts

Samples: Confidentiality Agreement, Confidentiality Agreement (Seahawk Drilling, Inc.)

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced on in accordance with the Effective Date terms of the Prior Agreement will end on the date of Employee’s Termination. The term of this Agreement shall commence on the Effective Date and end on the first second anniversary of the Effective Date. On the first second anniversary of the Effective Date, and each anniversary thereafter, the Employment Period will be automatically extended for one (1) year such that the Employment Period on the date of each such extension shall be one (1) year; provided, however however, that the Company or Employee may give written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than ninety one (901) days year after the date that the notice of non-renewal was given. Notwithstanding the above, the Employment Period will expire upon Employee’s Termination for any reason including Covered Termination, Constructive Termination, Disability, death, Cause or Voluntary Resignation. Employee agrees to provide thirty (30) days written notice of any Voluntary Resignation. Immediately upon Termination, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Confidentiality Agreement (Seahawk Drilling, Inc.)

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced on in accordance with the Effective Date terms of the Prior Agreement will end on the date of Employee’s Termination. The term of this Agreement shall commence on the Effective Date and end on the first anniversary of the Effective DateAugust 25, 2012. On the first anniversary of the Effective DateAugust 25, 2012, and each anniversary August 25th thereafter, the Employment Period will be automatically extended for one (1) year such that the Employment Period on the date of each such extension shall be one (1) year; provided, however , that the Company or Employee may give written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than ninety (90) days after the date that the notice of non-renewal was given. Notwithstanding the above, the Employment Period will expire upon Employee’s Termination for any reason reason, including Covered Termination, Constructive Termination, Disability, death, Cause or Voluntary Resignation. Employee agrees to provide thirty (30) days written notice of any Voluntary Resignation. Immediately upon Termination, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Seahawk Drilling, Inc.

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Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced on in accordance with the Effective Date terms of the Prior Agreement will end on the date of Employee’s Termination. The term of this Agreement shall commence on the Effective Date and end on the first second anniversary of the Effective Date. On the first second anniversary of the Effective Date, and each anniversary date thereafter, the Employment Period will be automatically extended for one (1) year such that the Employment Period on the date of each such extension shall be one (1) year; provided, however however, that the Company or Employee may give written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than ninety (90) days after the date that the notice of non-renewal was given. Notwithstanding the above, the Employment Period will expire upon Employee’s Termination for any reason including Covered Termination, Constructive Termination, Disability, death, Cause or Voluntary Resignation. Employee agrees to provide thirty (30) days written notice of any Voluntary Resignation. Immediately upon Termination, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Confidentiality Agreement (Seahawk Drilling, Inc.)

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced on in accordance with the Effective Date terms of the Prior Agreement will end on the date of Employee’s Termination. The term of this Agreement shall commence on the Effective Date and end on the first third anniversary of the Effective Date. On the first third anniversary of the Effective Employment Date, and each anniversary thereafter, the Employment Period will be automatically extended for one (1) year such that the Employment Period on the date of each such extension shall be one (1) year; provided, however however, that the Company or Employee may give written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than ninety (90) days after the date that the notice of non-renewal was given. Notwithstanding the above, the Employment Period will expire upon Employee’s Termination for any reason reason, including Covered Termination, Constructive Termination, Disability, death, Cause or Voluntary Resignation. Employee agrees to provide thirty (30) days written notice of any Voluntary Resignation. Immediately upon Termination, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Confidentiality Agreement (Seahawk Drilling, Inc.)

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