Common use of Termination in Anticipation of a Change of Control Clause in Contracts

Termination in Anticipation of a Change of Control. If a Change of Control occurs, and if Executive's employment with the Company is terminated by the Executive for Good Reason or by the Company (or any parent or subsidiary of the Company) for other than Cause within six (6) months prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or in anticipation of a Change of Control, then for purposes of this Section 3, such termination of employment shall be deemed to have occurred immediately following the Change of Control and Executive shall be entitled to the benefits described in Section 3(a).

Appears in 3 contracts

Samples: Change of Control Severance Agreement (Indus International Inc), Change of Control Severance Agreement (Indus International Inc), Change of Control Severance Agreement (Indus International Inc)

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Termination in Anticipation of a Change of Control. If a Change of Control occurs, and if Executive's employment with the Company is terminated by the Executive for Good Reason or by the Company (or any parent or subsidiary of the Company) for other than Cause within six (6) months prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or in anticipation of a Change of Control, then for purposes of this Section 3, such termination of employment shall be deemed to have occurred immediately following the Change of Control and Executive shall be entitled to the benefits described in Section 3(a)."

Appears in 1 contract

Samples: Change of Control Severance Agreement (Indus International Inc)

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Termination in Anticipation of a Change of Control. If a Change of Control occurs, and if Executive's ’s employment with the Company is terminated by the Executive for Good Reason or by the Company (or any parent or subsidiary of the Company) for other than Cause within six (6) months prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or in anticipation of a Change of Control, then for purposes of this Section 3, such termination of employment shall be deemed to have occurred immediately following the Change of Control and Executive shall be entitled to the benefits described in Section 3(a).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Indus International Inc)

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