Common use of Without Cause by Executive During Window Period Clause in Contracts

Without Cause by Executive During Window Period. If a Change of Control (as defined in Section 3.4.1 hereof) occurs, and the Executive continues employment for six (6) months after the date of the Change of Control (as defined in Section 3.4.1 hereof) (the “Stay Period”), the Executive may terminate the Employment Term (the “Resignation”) during the ninety (90) days following the Stay Period (the “Window Period”). The Executive must provide the Resignation in a Notice of Termination to the Employer during the Window Period. Upon the Resignation, the provisions of Sections 3.3.2 and 3.3.6 shall apply as if the Resignation were a termination of the Employment Term without Cause by the Employer under Section 3.2.5.

Appears in 5 contracts

Samples: Employment Agreement (Par Pharmaceutical Companies, Inc.), Employment Agreement (Par Pharmaceutical Companies, Inc.), Employment Agreement (Par Pharmaceutical Companies, Inc.)

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Without Cause by Executive During Window Period. If a Change of Control (as defined in Section 3.4.1 hereof) occurs, and the Executive continues employment for of six (6) months after the date of the Change of Control (as defined in Section 3.4.1 hereof) (the “Stay Period”), the Executive may terminate the Employment Term (the “Resignation”) during the ninety (90) days following the Stay Period (the “Window Period”). The Executive must provide the Resignation in a Notice of Termination to the Employer during the Window Period. Upon the Resignation, the provisions of Sections 3.3.2 and 3.3.6 shall apply as if the Resignation were a termination of the Employment Term without Cause by the Employer under Section 3.2.5.

Appears in 1 contract

Samples: Employment Agreement (Par Pharmaceutical Companies, Inc.)

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Without Cause by Executive During Window Period. If a Change of Control (as defined in Section 3.4.1 3.3.7(d) hereof) occurs, and the Executive continues employment for six (6) months after the date of the Change of Control (as defined in Section 3.4.1 3.3.7(d) hereof) (the “Stay Period”), the Executive may terminate the Employment Term (the “Resignation”) during the ninety (90) days following the Stay Period (the “Window Period”). The Executive must provide the Resignation in a Notice notice of Termination termination to the Employer during the Window Period. Upon the Resignation, the provisions of Sections 3.3.2 and 3.3.6 shall apply as if the Resignation were a termination of the Employment Term without Cause by the Employer under Section 3.2.5.

Appears in 1 contract

Samples: Employment Agreement (Par Pharmaceutical Companies, Inc.)

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