Examples of Chairman Termination Date in a sentence
Except as otherwise provided in this Agreement, this Agreement shall terminate (a) as to Liberty, at such time that Liberty Beneficially Owns Equity Securities representing less than 5% of the Total Equity Securities and (b) as to Xx. Xxxxxx, at such time that the Chairman Termination Date has occurred or at such time as he becomes Disabled.
In addition, at such time as the Chairman Termination Date has occurred or Xxxxxx has become Disabled, neither the Xxxxxx Stockholder Group nor the Liberty Stockholder Group shall have any obligation under this Agreement with respect to the matters covered under Section 3.3, Section 4.1 and Section 4.3.
In recognition of the Executive's contributions to the success of the Company, no later than five business days following the Chairman Termination Date, the Company shall pay the Executive (or if applicable, his estate or legal representative) a special retirement payment of $2,750,000, in a lump sum in cash.
During the period that the Executive serves as Chairman of the Board (the date such service terminates for any reason, the "Chairman Termination Date"), the Company shall provide the Executive with periodic cash compensation at the rate of $350,000 per year and the Company shall continue to provide the Executive (and his spouse and dependants, if applicable) with medical and dental benefits substantially equivalent to the benefits he was entitled to receive immediately prior to the Retirement Date.
TripAdvisor and Liberty acknowledge that the Chairman Termination Date occurred on December 11, 2012, and, as a result, Xx. Xxxxxx’x rights under the Governance Agreement were terminated as of December 11, 2012.
The Company shall give the Executive the right to purchase (such right to remain open until the Chairman Termination Date) at current book value, the Company vehicles which were customarily provided to the Executive immediately prior to the Retirement Date.
Except as otherwise provided in this Agreement, this Agreement shall terminate (a) as to Liberty, at such time that Liberty Beneficially Owns Equity Securities representing less than 5% of the Total Equity Securities and (b) as to Mr. Diller, at such time that the Chairman Termination Date has occuxxxx xx xx such time as he becomes Disabled.
Except as otherwise provided in this Agreement, this Agreement shall terminate (a) as to Liberty, at such time that Liberty Beneficially Owns Equity Securities representing less than 5% of the Total Equity Securities and (b) as to Mr. Diller, at such time that the Chairman Termination Date has occurrex xx xx xxch time as he becomes Disabled.
Notwithstanding anything contained in this Agreement to the contrary, the portion of the Option that has not vested prior to the Chairman Termination Date shall cease to vest, be immediately forfeited to the Company, and be cancelled if the Chairman Termination Date occurs for any reason other than the reasons specified in Section 2(b) (i), (ii) or (iii) above.
Executive acknowledges that as a condition of the Company's payment of its portion of the COBRA premium, Executive will pay by check made payable to the Company (or in such other manner acceptable to the Company) the amount equal to Executive's portion of the COBRA premiums during the eighteen (18) months following the Chairman Termination Date.