COC Agreement definition
Examples of COC Agreement in a sentence
Executive is party to that certain Weyerhaeuser Company Executive Change of Control Agreement dated as of [●] (the “COC Agreement”) and is eligible for COC Benefits under the COC Agreement on condition that Executive executes and does not revoke a non-competition and release agreement pursuant to the terms and conditions of the COC Agreement.
Upon expiration of the Revocation Period, defined below, without exercise of the right to revoke, Executive shall receive or be entitled to receive the COC Benefits and other payments to the extent set forth in the COC Agreement.
This Agreement shall completely supersede and replace any and all portions of any contracts, plans, provisions, or practices pertaining to severance entitlements owing to the Executive from the Company (including the Executive Severance Agreement that is scheduled to terminate on December 31, 2025) other than the COC Agreement, and is in lieu of any notice requirement, policy, or practice.
Consistent with Section 4.7 of the COC Agreement, Executive hereby agrees that Executive has also resigned any and all other positions with the Company or any of its Affiliates, whether as an officer, director, employee, or agent, in each case effective on the Termination Date.
As such, the Severance Benefits described herein shall serve as the Executive’s sole recourse with respect to termination of employment by the Company other than a termination that entitles the Executive to severance benefits under the terms of the COC Agreement.