Term and Operation of Agreement. This Agreement shall commence on the effective date hereof and shall continue in effect through December 31, 2013; provided, however, that commencing on January 1, 2013 and each January 1 thereafter, the term of this Agreement shall automatically be extended for one additional year unless not later than December 1 of the preceding year, the Company shall have given notice that it does not wish to extend this Agreement; and provided, further, that notwithstanding any such notice by the Company not to extend, this Agreement shall continue in effect for a period of twenty-four (24) months beyond the term provided herein if a “change in control of the Company” (as defined in Section 2(a) hereof) shall have occurred during such term.
Term and Operation of Agreement. (a) This Agreement shall be effective and binding as of the date of its execution as first noted above (the “Effective Date”) and this Agreement shall continue in effect until December 31, 2015 (the “Term”). Thereafter, this Agreement will automatically renew on January 1st of each year for successive one-year terms unless not later than October 31st preceding the upcoming renewal date, either HHC or Executive gives the other written notice terminating this Agreement at the end of the current term. Notwithstanding the preceding, this Agreement shall earlier terminate, automatically, upon Executive’s termination of employment with the Company prior to the end of the Term of this Agreement or any renewal thereof. In such event, all obligations of either party under this Agreement shall terminate except as otherwise specifically provided herein.
(b) Although this Agreement shall become effective and binding as of the Effective Date noted in Section 1(a) above, this Agreement shall not be effective and binding as an Employment Agreement and the provisions of Sections 2, 3, and 4 of this Agreement shall not be operative unless and until there shall have occurred a Change in Control (as hereinafter defined) during the Term as defined in Section 1(a) or any renewal thereof.
(c) HHC and Executive acknowledge and agree that Executive’s employment by the Company is at will and that Executive may resign from employment with the Company at any time, whether before or after this Agreement becomes effective as an Employment Agreement and whether before or after the occurrence of a Change in Control. Executive further acknowledges and agrees that Executive’s employment is at the pleasure of the Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer) of HHC or the Subsidiary by which Executive is employed and that Executive may be removed at any time by such Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer).
Term and Operation of Agreement. This Agreement shall be effective for a term (the "Term") commencing as of January 1, 1999 and ending on the earlier of (i) December 31, 2001 (subject to extension as provided below) and (ii) the termination of Employee's employment prior to a Change in Control (as hereinafter defined) of the Company; provided, however, that (x) prior to a Change in Control, the December 31, 2001 expiration date set forth in clause (i) above shall be automatically extended on each December 31 during the Term, commencing on December 31, 2001, until the next December 31 unless the Company shall have given the Employee not less than 30 days' written notice prior to the then current December 31 expiration date that there shall be no extension (in which event the expiration date set forth in such clause (i), as theretofore extended, shall not thereafter be further extended) and (y) notwithstanding the foregoing, if there is a Change in Control subsequent to December 31, 1998, but prior to the termination of this Agreement in accordance with the foregoing, then the Term shall be automatically be fixed as a two-year term commencing on the date such Change in Control shall have occurred and ending on the second anniversary of the date of such Change in Control. For purposes of this Agreement, Employee's employment by the Company shall be deemed to be continuing (i) for any period during which, in accordance with any contract between him and the Company ("Employment Agreement"), provision shall be made for Employee to perform services as an employee of the Company and Employee shall be entitled to compensation from the Company for same, or (ii) if there is no Employment Agreement, for any period during which Employee is in fact performing services as an employee of the Company and receiving compensation from the Company for same. Anything in this Agreement to the contrary notwithstanding, except as expressly set forth herein, neither this Agreement nor any provision hereof shall be operative until a Change in Control has occurred, at which time this Agreement and all of its provisions shall become operative immediately.
Term and Operation of Agreement. (a) This Agreement shall be effective and binding as of the date of its execution as first noted above (the “Effective Date”) and this Agreement shall continue in effect until December 31, 2017 (the “Term”). Thereafter, this Agreement will automatically renew for successive three-year terms beginning on January 1st of the year immediately following the end of each term unless, not later than October 31st preceding the upcoming renewal date, either HHC or Executive gives the other written notice terminating this Agreement at the end of the then-current term. Notwithstanding the preceding, this Agreement shall earlier terminate, automatically, upon Executive’s termination of employment with the Company prior to the end {JX109880.1} of the Term of this Agreement or any renewal thereof. In such event, all obligations of either party under this Agreement shall terminate except as otherwise specifically provided herein.
(b) Although this Agreement shall become effective and binding as of the Effective Date noted in Section 1(a) above, this Agreement shall not be effective and binding as an Employment Agreement and the provisions of Sections 2, 3, and 4 of this Agreement shall not be operative unless and until there shall have occurred a Change in Control (as hereinafter defined) during the Term as defined in Section 1(a) or any renewal thereof.
(c) HHC and Executive acknowledge and agree that Executive’s employment by the Company is at will and that Executive may resign from employment with the Company at any time, whether before or after this Agreement becomes effective as an Employment Agreement and whether before or after the occurrence of a Change in Control. Executive further acknowledges and agrees that Executive’s employment is at the pleasure of the Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer) of HHC or the Subsidiary by which Executive is employed and that Executive may be removed at any time by such Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer).
Term and Operation of Agreement.
1.3.1 When does the Agreement come into operation?
1.3.2 What is the nominal expiry date of the Agreement?
Term and Operation of Agreement. This Agreement shall be effective for a ------------------------------- term (the "Term") commencing as of the date hereof and ending on the earlier of December 31, 1998 or the termination of Employee's employment prior to a Change in Control of the Company (as hereafter defined); provided, however, that if there is a Change in Control subsequent to the date hereof but prior to the termination of this Agreement in accordance with the foregoing, then the Term shall be automatically extended for a period ending on the second anniversary of the date of such Change in Control. For purposes of this Agreement, Employee's employment by the Company shall be deemed to be continuing (i) for any period during which, in accordance with any contract between him and the Company ("Employment Agreement"), provision shall be made for Employee to perform services as an employee of the Company and Employee shall be entitled to compensation from the Company for same, or (ii) if there is no Employment Agreement, for any period during which Employee is in fact performing services as an employee of the Company and receiving compensation from the Company for same. Anything in this Agreement to the contrary notwithstanding, neither this Agreement nor any provision hereof shall be operative until a Change in Control has occurred, at which time this Agreement and all of its provisions shall become operative immediately.
Term and Operation of Agreement. Subject to the provisions for termination as hereinafter provided, the term of this Agreement shall commence on the date hereof and shall continue in effect through July 2, 1998; PROVIDED, HOWEVER, that commencing on July 3, 1998 and each July 1 thereafter, the term of this Agreement shall automatically be extended for one additional year unless not later than March 30 of the preceding year, either party shall have given written notice that it does not wish to extend this Agreement; and PROVIDED, FURTHER, that notwithstanding any such notice by Employer not to extend, this Agreement shall continue in effect for a period of thirty (30) months beyond the term provided herein if a "Change in Control" of the Company (as hereinafter defined) shall have occurred during such term.
Term and Operation of Agreement. This Agreement will be effective from 7 days after its approval by the Fair Work Commission (FWC) or such later date as the FWC specifies. The nominal expiry of this Agreement will be 30 June 2021. This agreement is read in conjunction with the National Employment Standards and if a term of this agreement is detrimental to an employee when compared to a standard, the standard prevails over the term of this agreement. This Agreement supersedes and replaces in its entirety any previous Agreement covering employment with the University. This Agreement operates to the exclusion of and wholly replaces any award (existing or future) and any industrial agreement which may otherwise, but for this clause, apply to those staff whose employment falls within the scope of this Agreement - except for trainee rates of pay which are as prescribed in the Higher Education Industry – General Staff – Award 2010 (or successor). During the period of operation of this Agreement, the parties to this Agreement agree that: • this Agreement shall constitute full and final settlement of all matters and • there shall be no further claims made.
Term and Operation of Agreement. (a) This Agreement shall be effective only with respect to a Change in Control which is consummated on or prior to June 30, 2002. Unless the term hereof is extended in a writing signed by the parties hereto, this Agreement shall have no effect and Executive shall have no rights hereunder with respect to the termination of Executive's employment following a Change in Control which is consummated on or after July 1, 2002. Nothing in this Agreement shall be construed to restrict in any way the Company's right or Executive's right to terminate Executive's employment with the Company either with or without Cause prior to a Change in Control or after a Change in Control; provided, however, if there currently exists an employment agreement between the Company and Executive or if the Company and the Executive hereafter enter into an employment agreement, then the terms and conditions of such employment agreement shall to the extent inconsistent herewith prevail over the terms of this Agreement. If any such employment agreement has no Change in Control provisions, then the Change in Control provisions set forth herein, including the limitations set forth in Section 2(e) hereof, shall prevail.
(b) If Executive's Employment with the Company is terminated:
(i) without Cause by the Company or its successor within two (2) years after the occurrence of a Change in Control;
(ii) without Cause by the Company or its successor after the execution of a Change in Control Agreement but prior to a Change in Control and a Change in Control occurs (whether with the entity or entities party to such Change in Control Agreement or with other entities) within six (6) months after the execution of such Change in Control Agreement; or
(iii) with Good Reason by the Executive within two (2) years after the occurrence of a Change in Control, then, in any of such events, Executive shall be (i) entitled to his normal salary, bonuses, awards, perquisites and benefits, including, without limitation, benefits and awards under the stock option plans of the Company, the Company's bonus plan and the Company's retirement plans and programs, through the date the Executive's employment with the Company terminated and, in addition thereto, (ii) shall be paid in a lump-sum, on the Termination Date, an amount of cash computed as a percentage of Adjusted W-2 Income based upon the time (measured in months) elapsed from the actual date of the Change in Control, to the Termination date as set forth in the f...
Term and Operation of Agreement
