Termination of Employment Agreement. In accordance with Treas. Reg. 1.409A-3(j)(ix)(B), the parties hereby agree that the Employment Agreement shall be terminated as of the Effective Time, as defined in the Merger Agreement; provided, however, that Section 18 of the Employment Agreement entitled Confidential Information and Section 19 of the Employment Agreement entitled Covenants Not to Compete or to Solicit shall continue and remain in full effect in accordance with their terms.
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Samples: Merger Agreement (United Fire & Casualty Co), Merger Agreement (Mercer Insurance Group Inc), Agreement to Terminate Employment Agreement (Mercer Insurance Group Inc)
Termination of Employment Agreement. In accordance with Treas. Reg. 1.409A-3(j)(ix)(B), the The parties hereby agree that the Employment Agreement shall be terminated terminate and have no further force and effect as of the Effective TimeDate, except as defined follows: (a) to the extent such Sections are referenced in the Merger Agreement; providedSection 2 hereof, howeverSections 2.3, that Section 18 2.4 and 3.6 of the Employment Agreement entitled Confidential Information shall remain in effect until the Severance Termination Date; and Section 19 (b) Sections 4, 5.1 and 5.4 of the Employment Agreement entitled Covenants Not to Compete or to Solicit shall continue and will remain in full effect in accordance with their termsthe terms thereof and Section 4 of this Agreement.
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