Common use of Termination Prior to a Change in Control Clause in Contracts

Termination Prior to a Change in Control. Notwithstanding anything in this Agreement to the contrary, if a Change in Control occurs and the Executive’s employment with the Company or an Affiliate was terminated by the Company or an Affiliate prior to the Change in Control Date other than for Cause or Disability, and if it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change in Control, or (ii) otherwise arose in connection with or in anticipation of a Change in Control, then for all purposes of this Agreement the Executive’s termination of employment be treated as an involuntary termination of the Executive’s employment occurring immediately after the Change in Control Date, and the Executive shall be entitled to receive the amounts described in Section 5.1 of this Agreement.

Appears in 6 contracts

Samples: Executive Employment Continuity Agreement (Roanoke Electric Steel Corp), Executive Employment Continuity Agreement (Roanoke Electric Steel Corp), Executive Employment Continuity Agreement (Roanoke Electric Steel Corp)

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