Common use of TERMINATION WITHOUT CHANGE IN CONTROL Clause in Contracts

TERMINATION WITHOUT CHANGE IN CONTROL. Notwithstanding anything herein to the contrary, the Company shall have the right to terminate Employee’s employment at any time during the Employment Period, as defined in Section 3.03 (including any extended term). In the event of any Termination, as defined in Section 2.10, if the Termination does not entitle Employee to payments and benefits under Article IV, the Company shall, within thirty (30) days following such Termination (subject to Section 6.04) and in exchange for a full and complete release of claims against the Company, its affiliates, officers and directors (“Release”), pay or provide to Employee (or his Executor, Administrator or Estate in the event of death, as soon as reasonably practical):

Appears in 2 contracts

Samples: Confidentiality Agreement (Pride International Inc), Option Agreement (Pride International Inc)

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TERMINATION WITHOUT CHANGE IN CONTROL. Notwithstanding anything herein to the contrary, the Company shall have the right to terminate Employee’s employment at any time during the Employment Period, as defined in Section 3.03 Period (including any extended term). In the event of any Termination, as defined in Section 2.10, if the Termination that does not entitle Employee to payments and benefits under Section 3.06, Section 3.07 or Article IV, the Company shall, within thirty sixty (3060) days following such Termination (subject to Termination, or at such other time(s) specified in this Section 6.04) 3.05 or Section 6.02, and in exchange for a full and complete release of claims against the Company, its affiliates, officers and directors (“Release”), pay or provide to Employee (or his Executordesignee or estate, Administrator or Estate as determined under Section 6.09, in the event of death, as soon as reasonably practicaldeath after Termination and prior to satisfaction of the Company’s obligations in this Section 3.05):

Appears in 2 contracts

Samples: Confidentiality Agreement (Pride SpinCo, Inc.), Confidentiality Agreement (Pride International Inc)

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