Common use of Termination of Existing Agreement Clause in Contracts

Termination of Existing Agreement. The Existing Agreement is hereby terminated, effective as of the date of this Agreement; provided, however, that such termination shall neither affect any right of either Employer or Employee that arose prior to (including but not limited to any right based on facts or circumstances occurring prior to but becoming known to the party with such right only after) such termination of the Existing Agreement nor relieve either Employer or Employee of responsibility for satisfying or the consequences of having failed to satisfy any obligation under the Existing Agreement that under the Existing Agreement it or he was to satisfy prior to such termination of the Existing Agreement.

Appears in 7 contracts

Samples: Executive Employment Agreement (North Pittsburgh Systems Inc), Executive Employment Agreement (North Pittsburgh Systems Inc), Executive Employment Agreement (North Pittsburgh Systems Inc)

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