Transition Period/Status of Amended Employment Agreement Sample Clauses

Transition Period/Status of Amended Employment Agreement. The Amended Employment Agreement shall remain in effect according to its terms except to the extent inconsistent with this Agreement. In partial consideration of the provisions and benefits of this Agreement, Xxxxxx’x duties from the date of this Agreement until the Separation Time (the “Transition Period”) shall consist of completing such transitional matters as may be assigned to Xxxxxx by the Company’s Board of Directors (the “Board”) from time to time. The Board may assign to Xxxxxx any and all duties and responsibilities that the Board may determine, in its discretion, are necessary to facilitate a smooth transition in connection with Xxxxxx’x resignation and the engagement of a new chief executive officer, or may relieve Xxxxxx of any or all duties during the Transition Period. Unless otherwise authorized in writing by the Board, during the Transition Period Xxxxxx will continue to devote substantially all of his business time and energy to the performance of his duties hereunder and shall not accept other employment with or engage in or render service to any other business or enterprise. The Company acknowledges that Xxxxxx may investigate other employment opportunities during January 2005 so long as such activities do not materially interfere with Xxxxxx’x duties to the Company under this Agreement. It is presently contemplated that Xxxxxx will not be Chief Executive Officer of the Company during the entire Transition Period, that a new chief executive officer of the Company will be appointed during the Transition Period, and that Xxxxxx will continue on as executive Chairman of the Company throughout the Transition Period following the appointment of a new chief executive officer. In the event that Xxxxxx’x employment terminates prior to the Separation Time by reason of Xxxxxx’x earlier resignation or abandonment of his duties or a termination by the Company for Cause (as defined in the Amended Employment Agreement), the obligations of the parties under this Agreement shall cease as of the effective date of such termination and the parties’ obligations shall be determined by the Amended Employment Agreement. The existence of any dispute respecting the interpretation of this Agreement or the Releases (as defined below), the alleged breach of this Agreement or the Releases, or the rescission by Xxxxxx of any of the Releases will not nullify or otherwise affect the parties’ obligations under the Amended Employment Agreement.
Sample 1
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Related to Transition Period/Status of Amended Employment Agreement

  • Duration Termination of Trust Amendment Mergers Etc 11.1 Duration 17 11.2 Termination 17 11.3 Amendment Procedure 18 11.4 Merger, Consolidation and Sale of Assets 19 11.5 Subsidiaries 19 11.6 Conversion 19 11.7 Certain Transactions 19

  • Termination of Consulting Agreement As of the Effective Date, the Consulting Agreement is hereby terminated and is of no further force or effect.

  • Effective Period, Termination and Amendment This Agreement shall become effective as of the date of its execution, shall continue in full force and effect until terminated as hereinafter provided, may be amended at any time by mutual agreement of the parties hereto, and may be terminated by either party by an instrument in writing delivered or mailed, postage prepaid to the other party, such termination to take effect not sooner than thirty (30) days after the date of such delivery or mailing in the case of a termination by the Fund, and not sooner than one hundred eighty (180) days after the date of such delivery or mailing in the case of termination by the Custodian; provided, however that the Custodian shall not act under Section 2.9 hereof in the absence of receipt of an initial certificate of a Fund’s secretary, or an assistant secretary thereof, that the Board has approved the initial use of a particular U.S. Securities System, as required by the 1940 Act or any applicable Rule thereunder, and that the Custodian shall not act under Section 2.10 hereof in the absence of receipt of an initial certificate of a Fund’s secretary, or an assistant secretary thereof, that the Board has approved the initial use of the Direct Paper System; provided further, however, that the Fund shall not amend or terminate this Agreement in contravention of any applicable federal or state regulations, or any provision of the Fund’s articles of incorporation, agreement of trust, by-laws and/or registration statement (as applicable, the "Governing Documents"); and further provided that the Fund may at any time by action of its Board (i) substitute another bank or trust company for the Custodian by giving notice as described above to the Custodian, or (ii) immediately terminate this Agreement in the event of the appointment of a conservator or receiver for the Custodian by the United States Comptroller of the Currency or upon the happening of a like event at the direction of an appropriate regulatory agency or court of competent jurisdiction. Upon termination of the Agreement, the Fund shall pay to the Custodian such compensation as may be due as of the date of such termination and shall likewise reimburse the Custodian for its reasonable costs, expenses and disbursements, provided that the Custodian shall not incur any costs, expenses or disbursements specifically in connection with such termination unless it has received prior approval from the Fund, such approval not to be unreasonably withheld.

  • Effect of Employment Agreement Notwithstanding any provision herein to the contrary, in the event of any inconsistency between this Section 6 and any employment agreement entered into by and between you and the Company, the terms of the employment agreement shall control.

  • Amendment of Employment Agreement The Employment Agreement is hereby amended as follows:

  • Termination of Employment Agreement (a) Effective as of the Effective Date and immediately prior to the Effective Time, the Employment Agreement is hereby terminated and shall be of no further force or effect whatsoever; provided, however, that, and notwithstanding anything in this Agreement to the contrary, such termination shall be contingent on the closing of the Merger.

  • Termination of Consulting Period Notwithstanding any other provision hereof, the Consulting Period and Consultant’s services as a consultant hereunder shall terminate, and, except as otherwise specifically provided herein, this Agreement shall terminate:

  • Effect on Employment Agreement Except as specifically amended in the manner and to the extent provided in Section 1 above, the Employment Agreement shall remain unchanged and the Employment Agreement shall continue, as and to the extent amended by this Amendment, in full force and effect.

  • EFFECTIVE PERIOD; TERMINATION AND AMENDMENT OF THIS AGREEMENT (a) This Agreement shall become effective as of the date first written above, and shall remain in full force and effect continuously thereafter (unless terminated automatically as set forth in Section 4) until terminated as set forth below. This Agreement shall automatically terminate in the event of its assignment or in the event of termination of the Investment Management Agreement.

  • Termination of Employment Agreements Any and all Employment Agreements entered into between the Company or any of its Subsidiaries and the Executive prior to the date of this Agreement are hereby terminated.

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