Examples of Prior Employment Agreements in a sentence
The parties agree that the Prior Employment Agreements are null and void effective as of the date hereof.
This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment agreement between any predecessor of the Holding Company and Executive (including the Prior Employment Agreements), except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided.
In consideration of Executive’s termination of the Prior Employment Agreements, Xxxxxx and Xxxxxx Bank agree that they will not terminate Executive’s employment without Just Cause during the period of time beginning as of the date hereof and ending at the Effective Time.
In consideration of the payment provided for in Annex A, the parties agree that the Prior Employment Agreements are null and void effective as of the date hereof.
Notwithstanding the foregoing, if the Merger Agreement is terminated pursuant to Article VI of the Merger Agreement, the Prior Employment Agreements shall be deemed to have not been canceled and this Agreement shall be null and void.
Prior Employment Agreements between the Executive and the Company are hereby terminated in their entirety and superceded by this Agreement.
Notwithstanding the foregoing, if the Merger Agreement is terminated in accordance with Article VI of the Merger Agreement, the Prior Employment Agreements shall be deemed to have not been cancelled and this Agreement shall be null and void.
Effective as of 11:59 p.m. on the day immediately prior to the Effective Date, the Prior Employment Agreements shall automatically terminate and be of no further force and effect.
In the event that the Merger Agreement is terminated prior to the Close, (i) the covenants and agreements set forth herein shall be automatically deemed null and void and of no further force and effect without any other necessary actions by the parties, and (ii) any Prior Employment Agreements shall remain in full force and effect without having been amended or otherwise affected by this paragraph or this letter agreement.
To the extent the Executive does not have a Prior Employment Agreement, such provisions will be on the same terms as those for Executives with Prior Employment Agreements and Non-Competition, Non-Solicitation and Confidentiality Agreements.