Examples of CEO Transition Period in a sentence
For the avoidance of doubt, the special rules under this Section 1.6 will not apply if your Termination Date occurs after the expiration of the CEO Transition Period.
Unless earlier terminated by the Company, the Policy shall, without any further action by the Company, terminate effective as of 11:59 PM Eastern Time on the last day of the CEO Transition Period.
In the event that Executive’s employment is terminated for Cause during the CEO Transition Period pursuant to Section II(B)(ii)(2) of this Agreement, Executive will not be entitled to receive the benefits or payments set forth on Addendum A to this Agreement.
If Executive voluntarily terminates his employment with the Company during the CEO Transition Period or the Employee Transition Period for any reason, he will not be entitled, to the extent not already paid, to any of the benefits or payments set forth in Addendum A or the continued payment of the base compensation set forth in II.B.(i)(2).
In the event that Executive’s employment is terminated during the CEO Transition Period pursuant to Section II(B)(ii)(1) of this Agreement or Executive’s death, and Executive has fully complied with all of his obligations in this Agreement, Executive shall be eligible for the benefits and payments set forth on Addendum A to this Agreement.
For the avoidance of doubt, the special rules under this Section 1.4 will not apply if your Termination Date occurs after the expiration of the CEO Transition Period.
Upon the end of the Extended Interim CEO Period, the Executive shall resign all offices at the Company and its affiliates except that, subject to paragraph 3 below, Executive shall retain the position of Chairman of the Board of the Company and perform Transition Services during the CEO Transition Period, as described below.
Effective as of the earlier of (a) June 1, 2024 and (b) the end of the CEO Transition Period, the Executive hereby resigns his position as co-Chief Executive Officer of the Company, and shall serve as the Executive Chairman of the Board of the Company during the Term (as defined in the August 2023 Employment Agreement).
Executive’s annual base salary during the Transition Period while serving as the CEO during the CEO Transition Period shall be the same as Executive’s annual base salary immediately prior to the Transition Period.
Effective immediately upon the expiration of the CEO Transition Period, on the ninety-first (91st) day following the Effective Time (the “CEO Effective Date”), Executive is hereby appointed to serve as the President and Chief Executive Officer of the Company.