Common use of Termination of Existing Contracts Clause in Contracts

Termination of Existing Contracts. The Executive agrees that all agreements and contracts, whether written or oral, relating to the employment of the Executive by the Company, or any of its subsidiaries or affiliates, shall be superseded effective as of the commencement of the Employment Term. However, nothing in this Section 1.4 shall (i) affect accrued vacation, holiday or sick pay accruals, (ii) require the Company to cease to make available to the Executive, and, subject to his meeting all applicable eligibility requirements, the Executive shall be entitled to continue to be covered under all group health, medical and dental insurance policies, plans and programs maintained by the Company for its executive level employees generally, in each case until replacement coverage is provided by the Company, or (iii) impair or adversely affect any indemnification rights that the Executive may have under statutes empowering corporations in the Company’s or any of its subsidiaries’ states of incorporation to indemnify their officers and directors, or under the Company’s or any of its affiliates’ bylaws or any written indemnification agreement between the Executive and the Company or any of its affiliates implementing such statutory indemnification rights, but only with respect to third-party claims or proceedings that relate to actions taken by the Executive as an officer or director of the Company or any of its affiliates prior to the date hereof.

Termination of Existing Contracts. The Executive agrees that all agreements and contracts, whether written or oral, relating to the employment of the Executive by the Company, or any of its subsidiaries or affiliates, shall be superseded superceded effective as of the commencement of the Employment Term. However, nothing in this Section 1.4 shall (i) affect accrued vacation, holiday or sick pay accruals, (ii) require the Company to cease to make available to the Executive, and, subject to his meeting all applicable eligibility requirements, the Executive shall be entitled to continue to be covered under under, all group health, medical and dental insurance policies, plans and programs maintained by the Company for its executive level employees generally, in each case until replacement coverage is provided by the Company, or (iii) impair or adversely affect any indemnification rights that the Executive may have under statutes empowering corporations in the Company’s or any of its subsidiaries’ states of incorporation to indemnify their officers and directors, or under the Company’s or any of its affiliates’ bylaws or any written indemnification agreement between the Executive and the Company or any of its affiliates implementing such statutory indemnification rights, but only with respect to third-party claims or proceedings that relate to actions taken by the Executive as an officer or director of the Company or any of its affiliates prior to the date hereof.

Termination of Existing Contracts. The Executive agrees that all agreements and contracts, whether written or oral, relating to the employment of the Executive by the Company, or any of its subsidiaries or affiliates, shall be superseded effective as of the commencement of the Employment Term. However, nothing in this Section 1.4 shall (i) affect accrued vacation, holiday or sick pay accruals, (ii) require the Company to cease to make available to the Executive, and, subject to his meeting all applicable eligibility requirements, the Executive shall be entitled to continue to be covered under all group health, medical and dental insurance policies, plans and programs maintained by the Company for its executive level employees generally, in each case until replacement coverage is provided by the Company, or (iii) impair or adversely affect any indemnification rights that the Executive may have under statutes empowering corporations in the Company’s or any of its subsidiaries’ states of incorporation to indemnify their officers and directors, or under the Company’s or any of its affiliates’ bylaws or any written indemnification agreement between the Executive and the Company or any of its affiliates implementing such statutory indemnification rights, but only with respect to third-party third‑party claims or proceedings that relate to actions taken by the Executive as an officer or director of the Company or any of its affiliates prior to the date hereof.

Termination of Existing Contracts. The Executive agrees that all agreements and contracts, whether written or oral, relating to the employment of the Executive by the Company, or any of its subsidiaries or affiliates, shall be superseded effective as of the commencement of the Employment Term. However, nothing in this Section 1.4 shall (i) affect accrued vacation, holiday or sick pay accruals, (ii) require the Company to cease to make available to the Executive, and, subject to his meeting all applicable eligibility requirements, the Executive shall be entitled to continue to be covered under all group health, medical and dental insurance policies, plans and programs maintained by the Company for its executive level employees generally, in each case until replacement coverage is provided by the Company, or (iii) impair or adversely affect any indemnification rights that the Executive may have under statutes empowering corporations in the Company’s 's or any of its subsidiaries’ ' states of incorporation to indemnify their officers and directors, or under the Company’s 's or any of its affiliates’ ' bylaws or any written indemnification agreement between the Executive and the Company or any of its affiliates implementing such statutory indemnification rights, but only with respect to third-party claims or proceedings that relate to actions taken by the Executive as an officer or director of the Company or any of its affiliates prior to the date hereof.