Common use of Termination Following a Change of Control and Compensation Reduction Clause in Contracts

Termination Following a Change of Control and Compensation Reduction. (i) In the event that a “Change in Control,” as hereinafter defined, of the Company shall occur at any time during the Term or Renewal Term hereof, the Executive shall have the right to terminate the Executive’s employment under this Agreement upon thirty (30) days written notice given at any time within one (1) year after the occurrence of such event and such termination of the Executive’s employment with the Company pursuant to this Section 4(g)(i), then, in any such event such termination shall be deemed to be a Termination by the Company Other than for Cause and the Executive shall be entitled to such Compensation and Benefits as set forth in Subsection 4(d) of this Agreement.

Appears in 4 contracts

Samples: Executive Employment Agreement (Elandia, Inc.), Executive Employment Agreement (Elandia, Inc.), Executive Employment Agreement (Elandia, Inc.)

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Termination Following a Change of Control and Compensation Reduction. (i) In the event that a “Change in Control,” as hereinafter defined, of the Company shall occur at any time during the Term or Renewal Term hereof, the Executive shall have the right to terminate the Executive’s employment under this Agreement upon thirty (30) days written notice given at any time within one (1) year after the occurrence of such event and such termination of the Executive’s employment with the Company pursuant to this Section 4(g)(i4.f.(i), then, in any such event such termination shall be deemed to be a Termination by the Company Other than for Cause and the Executive shall be entitled to such Compensation and Benefits as set forth in Subsection 4(d) 4.d. of this Agreement.

Appears in 2 contracts

Samples: Executive Employment Agreement (Elandia, Inc.), Executive Employment Agreement (Elandia, Inc.)

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