Effectiveness Contract Clauses (4,634)

Effectiveness. This Plan shall be effective as of [ __ ], 2021. 10 PARTICIPATION AGREEMENT EXHIBIT 11 EX-10.6 11 d66583dex106.htm EX-10.6 EX-10.6 Exhibit 10.6 FINAL POSHMARK, INC. EXECUTIVE SEVERANCE PLAN FOR THE CHIEF EXECUTIVE OFFICER AND SENIOR EXECUTIVE OFFICERS 1. Purpose. Poshmark, Inc. (the "Company") considers it essential to the best interests of its stockholders to foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes, however,... that, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 hereof), exists and that such possibility, and the uncertainty and questions that it may raise among management, may result in the departure or distraction of management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that the Poshmark, Inc. Executive Severance Plan for the Chief Executive Officer and Senior Executive Officers (the "Plan") should be adopted to reinforce and encourage the continued attention and dedication of the Company's Covered Executives (as defined in Section 2 hereof) to their assigned duties without distraction. Nothing in this Plan shall be construed as creating an express or implied contract of employment and nothing shall alter the "at will" nature of the Covered Executives' employment with the Company. View More

Effectiveness. This Plan shall be effective as of [ __ ], 2021. 10 PARTICIPATION AGREEMENT EXHIBIT 11 EX-10.6 11 d66583dex106.htm EX-10.6 EX-10.6 Exhibit 10.6 FINAL POSHMARK, INC. EXECUTIVE SEVERANCE PLAN FOR THE CHIEF EXECUTIVE OFFICER AND SENIOR EXECUTIVE OFFICERS 1. Purpose. Poshmark, Inc. (the "Company") considers it essential to the best interests of its stockholders to foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes, however,... that, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 hereof), exists and that such possibility, and the uncertainty and questions that it may raise among management, may result in the departure or distraction of management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that the Poshmark, Inc. Executive Severance Plan for the Chief Executive Officer and Senior Executive Officers (the "Plan") should be adopted to reinforce and encourage the continued attention and dedication of the Company's Covered Executives (as defined in Section 2 hereof) to their assigned duties without distraction. Nothing in this Plan shall be construed as creating an express or implied contract of employment and nothing shall alter the "at will" nature of the Covered Executives' employment with the Company. View More

Effectiveness. Notwithstanding anything to the contrary contained herein, this Agreement shall be subject to consummation of the Merger in accordance with the terms of the Merger Agreement, as the same may be amended by the parties thereto in accordance with its terms. In the event the Merger Agreement is terminated for any reason or the Merger does not occur, this Agreement shall be deemed null and void.

Effectiveness. Notwithstanding anything to the contrary contained herein, this Agreement shall be subject to consummation of the Merger in accordance with the terms of the Merger Agreement, as the same may be amended by the parties thereto in accordance with its terms. In the event the Merger Agreement is terminated for any reason or the Merger does not occur, this Agreement shall be deemed null and void.

Effectiveness. This Amendment shall become effective as of the date first written above; provided that Bank and Buyer shall have executed a counterpart of this Amendment.

Effectiveness. This Amendment shall become effective as of the date first written above; provided that Bank and Buyer shall have executed a counterpart of this Amendment.

Effectiveness. This Amendment shall become effective as of the date first written above (the "Amendment Effective Date").

Effectiveness. This Amendment shall become effective as of the date first written above (the "Amendment Effective Date").

Effectiveness. This Amendment shall be deemed effective upon the due execution and delivery to Collateral Agent and Lenders of the following: (i) this Amendment, duly executed by each party hereto; (ii) a Corporate Borrowing Certificate from each Borrower; 4 (iii) duly filed UCC Financing Statements, identifying New Borrower as a Debtor, consistent with Exhibit A hereto; (iv) Amended and Restated Secured Promissory Note, duly executed by each Borrower, substantially in the form of Exhibit D attached hereto,... and Collateral Agent shall have returned to Existing Borrower the originals of the Secured Promissory Note currently held by Lenders; (v) good standing certificates for New Borrower certified by the Secretary of State (or equivalent agency) of such New Borrower's jurisdiction of organization and each jurisdiction in which such New Borrower is qualified to conduct business, each as of a date no earlier than thirty (30) days prior to the date of this Amendment; (vi) certified copies of financing statement searches, as Collateral Agent shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been terminated or released, each as of a date no earlier than thirty (30) days prior to the date of this Amendment; and (vii) Borrower's payment of all Lenders' Expenses incurred through the date of this Amendment. View More

Effectiveness. This Amendment shall be deemed effective upon the due execution and delivery to Collateral Agent and Lenders of the following: (i) this Amendment, duly executed by each party hereto; (ii) a Corporate Borrowing Certificate from each Borrower; 4 (iii) duly filed UCC Financing Statements, identifying New Borrower as a Debtor, consistent with Exhibit A hereto; (iv) Amended and Restated Secured Promissory Note, duly executed by each Borrower, substantially in the form of Exhibit D attached hereto,... and Collateral Agent shall have returned to Existing Borrower the originals of the Secured Promissory Note currently held by Lenders; (v) good standing certificates for New Borrower certified by the Secretary of State (or equivalent agency) of such New Borrower's jurisdiction of organization and each jurisdiction in which such New Borrower is qualified to conduct business, each as of a date no earlier than thirty (30) days prior to the date of this Amendment; (vi) certified copies of financing statement searches, as Collateral Agent shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been terminated or released, each as of a date no earlier than thirty (30) days prior to the date of this Amendment; and (vii) Borrower's payment of all Lenders' Expenses incurred through the date of this Amendment. View More