Common use of Termination of Prior Arrangements Clause in Contracts

Termination of Prior Arrangements. The parties hereto --------------------------------- acknowledge and agree that this Agreement supersedes and terminates all existing severance agreements or arrangements between the Company or any of its affiliates and the Executive including without limitation the severance arrangements approved by the Compensation Committee of the Company on August 17, 1994, without any liability thereunder from the Company, the Buyers (as defined in the Stock Purchase Agreement) or the Subsidiaries (as defined in the Stock Purchase Agreement).

Termination of Prior Arrangements. The parties hereto --------------------------------- acknowledge and agree that this Agreement supersedes and terminates all existing severance agreements or arrangements including, without limitation, the severance arrangements between the Company or any of its affiliates and the Executive including without limitation the severance arrangements approved by the Compensation Committee of the Company on August 17, 1994, without any liability thereunder from the Company, the Buyers (as defined in the Stock Purchase Agreement) or the Subsidiaries (as defined in the Stock Purchase Agreement).

Termination of Prior Arrangements. The parties hereto --------------------------------- acknowledge and agree that this Agreement supersedes and terminates all existing severance agreements or arrangements between the Company or any of its affiliates and the Executive including without limitation the severance arrangements approved by the Compensation Committee of the Company on August 17, 1994, without any liability thereunder from the Company, the Buyers (as defined in the Stock Purchase Agreement) or the Subsidiaries (as defined in the Stock Purchase Agreement).