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

Termination Pursuant to a Change of Control. If there is a Change of Control, as defined in Section 5(d)(i) below, during the Term, the provisions of this Section 5(d) shall apply and shall continue to apply throughout the remainder of Employment Period. If, within one (1) year following a Change of Control, the Executive’s employment is terminated by the Company or the Executive following the occurrence of any of the events listed in Section 5(d)(ii) below or if the Executive’s employment is terminated without cause (in accordance with Section 5(a) above), the Company shall pay to the Executive (or the Executive’s estate, if applicable) the payments described under Section 5(a) and the Executive shall become vested in any outstanding options, restricted stock, or other equity incentive award; provided that the Company’s obligation to make any payment, or to permit any vesting of outstanding options, restricted stock, or other equity incentive award as described above, shall be conditioned upon the Executive’s execution, and non-revocation, of a written release, substantially in the form attached hereto as Exhibit 1.

Appears in 10 contracts

Samples: Employment Agreement, Employment Agreement, Employment Agreement (PharMerica CORP)

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Termination Pursuant to a Change of Control. If there is a Change of Control, as defined in Section 5(d)(i) below, during the TermEmployment Period, the provisions of this Section 5(d) shall apply and shall continue to apply throughout the remainder of Employment Period. If, within one (1) year following a Change of Control, the Executive’s employment is terminated by the Company or the Executive following the occurrence of any of the events listed in Section 5(d)(ii) below or if the Executive’s employment is terminated without cause (in accordance with Section 5(a) above), the Company shall pay to the Executive (or the Executive’s estate, if applicable) the payments described under Section 5(a) and the Executive shall become vested in any outstanding options, restricted stock, or other equity incentive award; provided that the Company’s obligation to make any payment, or to permit any vesting of outstanding options, restricted stock, or other equity incentive award as described above, shall be conditioned upon the Executive’s execution, and non-revocation, of a written release, substantially in the form attached hereto as Exhibit 1.

Appears in 3 contracts

Samples: Employment Agreement, Employment Agreement (PharMerica CORP), Employment Agreement (PharMerica CORP)

Termination Pursuant to a Change of Control. If there is a Change of Control, as defined in Section 5(d)(i5(e)(i) below, during the Term, the provisions of this Section 5(d5(e) shall apply and shall continue to apply throughout the remainder of Employment Period. If, within one (1) year following a Change of Control, the Executive’s 's employment is terminated by the Company or the Executive following the occurrence of any of the events listed in Section 5(d)(ii5(e)(ii) below or if the Executive’s 's employment is terminated without cause (in accordance with Section 5(a) above), the Company shall pay to the Executive (or the Executive’s 's estate, if applicable) the payments described under Section 5(a) and the Executive shall become vested in any outstanding options, restricted stock, or other equity incentive award; provided that the Company’s 's obligation to make any payment, or to permit any vesting of outstanding options, restricted stock, or other equity incentive award as described above, shall be conditioned upon the Executive’s 's execution, and non-revocation, of a written release, substantially in the form attached hereto as Exhibit 1.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

Termination Pursuant to a Change of Control. If there is a Change of Control, as defined in Section 5(d)(i) below, during the TermEmployment Period, the provisions of this Section 5(d) shall apply and shall continue to apply throughout the remainder of the Employment Period. If, within one (1) year following a Change of Control, the Executive’s 's employment is terminated by the Company or the Executive following the occurrence of any of the events listed in Section 5(d)(ii) below or if the Executive’s 's employment is terminated without cause (in accordance with Section 5(a) above), the Company shall pay to the Executive (or the Executive’s 's estate, if applicable) the payments described under Section 5(a) and the Executive shall become vested in any outstanding options, restricted stock, or other equity incentive award); provided that the Company’s 's obligation to make any payment, or to permit any vesting of outstanding options, restricted stock unit, synthetic stock ( such as phantom stock, ) or other equity based incentive award as described abovepursuant to the terms of the plan and grant documents under which such grant was made, shall be conditioned upon the Executive’s 's execution, and non-revocation, of a written release, substantially in the form attached hereto as Exhibit 1.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

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Termination Pursuant to a Change of Control. If there is a Change of Control, as defined in Section 5(d)(i) below, during the Term, the provisions of this Section 5(d) shall apply and shall continue to apply throughout the remainder of Employment Period. If, within one (( 1) year following fol1owing a Change of Control, the Executive’s 's employment is terminated by the Company or the Executive following the occurrence of any of the events listed in Section 5(d)(ii) below or if the Executive’s employment is terminated without cause (in accordance with Section 5(a) above), the Company shall pay to the Executive (or the Executive’s 's estate, if applicable) the payments described under Section 5(a) and the Executive shall become vested in any outstanding options, restricted stock, performance stock units or other equity incentive award; provided that the Company’s 's obligation to make any payment, or to permit any vesting of outstanding options, restricted stock, performance stock units or other equity incentive award as described above, shall be conditioned upon the Executive’s 's execution, and non-revocation, of a written release, substantially in the form attached hereto as Exhibit 1.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

Termination Pursuant to a Change of Control. If there is a Change of Control, as defined in Section 5(d)(i5(e)(i) below, during the Term, the provisions of this Section 5(d5(e) shall apply and shall continue to apply throughout the remainder of Employment Period. If, within one (1) year following a Change of Control, the Executive’s employment is terminated by the Company or the Executive following the occurrence of any of the events listed in Section 5(d)(ii5(e)(ii) below or if the Executive’s employment is terminated without cause (in accordance with Section 5(a) above), the Company shall pay to the Executive (or the Executive’s estate, if applicable) the payments described under Section 5(a) and the Executive shall become vested in any outstanding options, restricted stock, or other equity incentive award; provided that the Company’s obligation to make any payment, or to permit any vesting of outstanding options, restricted stock, or other equity incentive award as described above, shall be conditioned upon the Executive’s execution, and non-revocation, of a written release, substantially in the form attached hereto as Exhibit 1.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

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