Termination Without Cause After a Change in Control Clause Samples
The 'Termination Without Cause After a Change in Control' clause allows an employee or party to be terminated without specific fault or misconduct following a significant change in the ownership or control of the company, such as a merger or acquisition. Typically, this clause outlines the conditions under which such a termination can occur and may specify severance payments or other benefits owed to the affected party. Its core function is to protect employees or stakeholders from abrupt or unfair dismissal due to organizational changes, ensuring they receive compensation or support if their employment is ended for reasons unrelated to their performance.
Termination Without Cause After a Change in Control. After a Change in Control, the Company and Executive shall continue to have the right to terminate Executive's employment without Cause and for any or no reason, and nothing in this Agreement shall be construed as limiting the Company's or Executive's right to terminate Executive's employment at any time without Cause and for any or no reason.
Termination Without Cause After a Change in Control. If, within two years following a Change in Control, the Holder’s employment with the Company or any Subsidiary terminates without Cause, the Option shall become immediately and automatically vested and exercisable, and then the Option may thereafter be exercised by the Holder at any time after the date of such termination of
Termination Without Cause After a Change in Control. Unless otherwise determined by the Committee or as provided for in the Participant’s Individual Agreement, if any, if, within two years following a Change in Control, the Participant’s employment with the
Termination Without Cause After a Change in Control. If, within two years following a Change in Control, the Holder’s employment with the Company or any Subsidiary terminates without Cause, all Restricted Shares shall vest and any restriction shall lapse. For purposes of this Section 4(c), “Cause” is used as defined in the Holder’s Individual Agreement, if any, or if there is no Holder’s Individual Agreement or if it does not define Cause: (i) conviction of the Holder for committing a felony under federal law or in the law of the state in which such action occurred; (ii) dishonesty in the course of fulfilling the Holder’s employment duties; (iii) willful and deliberate failure on the part of the Holder to perform the Holder’s employment duties in any material respect; or (iv) prior to a Change in Control, such other events as shall be determined by the Committee. The Committee shall, unless otherwise provided in the Holder’s Individual Agreement, have the sole discretion to determine whether Cause exists, and its determination shall be final.