Common use of Termination of Employment Connected with a Change In Control Clause in Contracts

Termination of Employment Connected with a Change In Control. a. Upon Executive’s Separation from Service during the Change In Control Protection Period, Executive shall receive the Change In Control Payment if and only if the following conditions occur: (i) The Change In Control is consummated; (ii) Executive is employed in the Executive Incumbent Position or some substantially equivalent or higher position for the Company as of the commencement of the Change In Control Protection Period; (iii) Executive’s employment is terminated either by the Company without Cause or by the Executive with Good Reason such that a Separation from Service occurs; (iv) Within fifty (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), or at the expiration of twenty-one (21) days following the presentation of the release, Executive executes a release of all claims, known or unknown, against the Company, its Affiliates, and their respective agents in a form satisfactory to the Company similar to that attached hereto as Exhibit A and does not timely revoke such release before the expiration of seven days following his or her execution of the release; and (v) Within fifty (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), Executive reaffirms in writing in a manner satisfactory to the Company his or her obligations under Sections 7 and 8 of this Agreement.

Appears in 4 contracts

Samples: Change in Control Agreement (Celanese CORP), Change in Control Agreement (Celanese CORP), Change in Control Agreement (Celanese CORP)

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Termination of Employment Connected with a Change In Control. a. Upon Executive’s Separation from Service during the Change In Control Protection Period, Executive shall receive the Change In Control Payment if and only if the following conditions occur: (i) The Change In Control is consummated; (ii) Executive is employed in the Executive Incumbent Position or some substantially equivalent or higher position for the Company as of the commencement of the Change In Control Protection Period; (iii) Executive’s employment is terminated either by the Company without Cause or by the Executive with Good Reason such that a Separation from Service occurs; (iv) Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), or at the expiration of twenty-one (21) days following the presentation of the release, Executive executes a release of all claims, known or unknown, against the Company, its Affiliates, and their respective agents in a form satisfactory to the Company similar to that attached hereto as Exhibit A and does not timely revoke such release before the expiration of seven days following his or her execution of the release; and (v) Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), Executive reaffirms in writing in a manner satisfactory to the Company his or her obligations under Sections 7 and 8 of this Agreement.

Appears in 3 contracts

Samples: Change in Control Agreement (Celanese Corp), Change in Control Agreement (Celanese Corp), Change in Control Agreement (Celanese Corp)

Termination of Employment Connected with a Change In Control. a. Upon Executive’s 's Separation from Service during the Change In Control Protection Period, Executive shall receive the Change In Control Payment if and only if the following conditions occur: (i) The Change In Control is consummated; (ii) Executive is employed in the Executive Incumbent Position or some substantially equivalent or higher position for the Company as of the commencement of the Change In Control Protection Period; (iii) Executive’s 's employment is terminated either by the Company without Cause or by the Executive with Good Reason such that a Separation from Service occurs; (iv) Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), or at the expiration of twenty-one (21) days following the presentation of the release, Executive executes a release of all claims, known or unknown, against the Company, its Affiliates, and their respective agents in a form satisfactory to the Company similar to that attached hereto as Exhibit A and does not timely revoke such release before the expiration of seven days following his or her execution of the release; and (v) Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), Executive reaffirms in writing in a manner satisfactory to the Company his or her obligations under Sections 7 and 8 of this Agreement.

Appears in 2 contracts

Samples: Change in Control Agreement (Celanese Corp), Change in Control Agreement (Celanese Corp)

Termination of Employment Connected with a Change In Control. a. Upon Executive’s Separation from Service during the Change In Control Protection Period, Executive shall receive the Change In Control Payment if and only if the following conditions occur: (i) The Change In Control is consummated; (ii) Executive is employed in the Executive Incumbent Position or some substantially equivalent or higher position for the Company as of the commencement of the Change In Control Protection Period; (iii) Executive’s employment is terminated either by the Company without Cause or by the Executive with Good Reason such that a Separation from Service occurs; (iv) Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), or at the expiration of twenty-one (21) days following the presentation of the release, Executive executes a release of all claims, known or unknown, against the Company, its Affiliates, and their respective agents in a form satisfactory to the Company similar to that attached hereto as Exhibit A and does not timely revoke such release before the expiration of seven (7) days following his or her execution of the release; and (v) Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), Executive reaffirms in writing in a manner satisfactory to the Company his or her obligations under Sections 7 and 8 of this Agreement.

Appears in 1 contract

Samples: Change in Control Agreement (Celanese CORP)

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Termination of Employment Connected with a Change In Control. a. Upon Executive’s Separation from Service during the Change In Control Protection Period, Executive shall receive the Change In Control Payment if and only if the following conditions occur: (i) i. The Change In Control is consummated; (ii) . Executive is employed in the Executive Incumbent Position or some substantially equivalent or higher position for the Company as of the commencement of the Change In Control Protection Period; (iii) . Executive’s employment is terminated either by the Company without Cause or by the Executive with Good Reason such that a Separation from Service occurs; (iv) . Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), or at the expiration of twenty-one (21) days following the presentation of the release, Executive executes a release of all claims, known or unknown, against the Company, its Affiliates, and their respective agents in a form satisfactory to the Company similar to that attached hereto as Exhibit A and does not timely revoke such release before the expiration of seven days following his or her execution of the release; and (v) v. Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), Executive reaffirms in writing in a manner satisfactory to the Company his or her obligations under Sections 7 and 8 of this Agreement.

Appears in 1 contract

Samples: Change in Control Agreement (Celanese Corp)

Termination of Employment Connected with a Change In Control. a. Upon Executive’s Separation from Service during the Change In Control Protection Period, Executive shall receive the Change In Control Payment if and only if the following conditions occur: (i) The Change In Control is consummated; (ii) Executive is employed in the Executive Incumbent Position or some substantially equivalent or higher position for the Company as of the commencement of the Change In Control Protection Period;; 5 (iii) Executive’s employment is terminated either by the Company without Cause or by the Executive with Good Reason such that a Separation from Service occurs; (iv) Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), or at the expiration of twenty-one (21) days following the presentation of the release, Executive executes a release of all claims, known or unknown, against the Company, its Affiliates, and their respective agents in a form satisfactory to the Company similar to that attached hereto as Exhibit A and does not timely revoke such release before the expiration of seven days following his or her execution of the release; and (v) Within fifty fifty-three (53) days after both conditions in Sections 5(a)(i) and 5(a)(iii), Executive reaffirms in writing in a manner satisfactory to the Company his or her obligations under Sections 7 and 8 of this Agreement.

Appears in 1 contract

Samples: Change in Control Agreement (Celanese CORP)

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