Severance Provisions definition
Examples of Severance Provisions in a sentence
If a Change of Control occurs during the Effective Period, the Severance Provisions become effective on the date of the Change of Control (the “Change of Control Date”).
Severance Provisions (if these ever apply); in accordance with Clause 24.11 of the Hospital Scientific Officers Collective Agreement, the provisions of Clause 27.4 of the Allied Health Professionals Employment Contract, which expired on the 30th of June 1994, shall apply in lieu of Clause 24.8 of the Scientific Officers Collective Agreement.
These non-competition obligations shall be pursuant to the Termination and Severance Provisions of Exhibit A.
Employee further acknowledges and agrees that it is not the intent of the parties that termination of Employee's employment with the Company will entitle Employee to payments and/or benefits pursuant to both this Agreement and the severance provisions of the KERP (as described on pages 10-12 of the KERP, the "KERP Severance Provisions").
Upon the occurrence of a Change in Control at any time during the term of this Agreement, without further action, the Severance Provisions shall become immediately operative.
The term of Executive’s employment under this Agreement shall commence on the date of execution of this Agreement (“Effective Date”) and shall continue unless and until terminated earlier in accordance with the Severance Provisions (See 4.3 et seq.) in this Agreement.
The parties may only exercise the Severance Provisions of this Section 3.12 if the Investor Shareholders have a substantial disagreement regarding the management or future direction of Newco.
Sub shall cause the Company to, and the Company shall, honor the provisions (including the Severance Provisions and related protections) of the Change of Control Agreement, as modified hereby.
Sub and the Company acknowledge that, upon the consummation of the transactions contemplated by the Merger Agreement, a Change of Control will occur during the Effective Period, and the Severance Provisions will become effective on the Change of Control Date.
Parent and Merger Sub acknowledge and agree that the Company and its Subsidiaries, from and after the Effective Time, shall honor all obligations and rights under the Severance Provisions in accordance with their terms, including, at the Effective Time, paying any amounts due under the Severance Provisions with respect to the occurrence of the Transactions.