Purpose Clause Example with 21 Variations from Business Contracts
This page contains Purpose clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Purpose. The Company considers it essential to the best interests of its stockholders to promote and preserve the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes that, as is the case with many corporations, the possibility of 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 key management... personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. Nothing in this Agreement shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Employee and the Company, the Employee shall not have any right to be retained in the employ of the Company.View More
Variations of a "Purpose" Clause from Business Contracts
Purpose. The Company Insulet Corporation (the "Company") considers it essential to the best interests of its stockholders to promote and preserve foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many publicly held corporations, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 hereof) hereof), exists and t...hat such possibility, and the uncertainty and questions that which it may raise among management, may result in the departure or distraction of key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps the Insulet Corporation Amended and Restated Executive Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including officers with the Employee, title of Vice President or higher (each, a "Covered Executive" and collectively, the "Covered Executives") to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Employee Covered Executive and the Company, the Employee Covered Executive shall not have any right to be retained in the employ of the Company. The Plan is not intended to be an "employee pension benefit plan" or "pension plan" within the meaning of Section 3(2) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). Rather the Plan is intended to be a "welfare benefit plan" within the meaning of Section 3(1) of ERISA and to meet the requirements of a "severance pay plan" within the meaning of regulations published by the Secretary of Labor at Title 29, Code of Federal Regulations, Section 2510.3-2(b). Accordingly, no employee shall have a vested right to benefits paid by the Plan. View More
Purpose. The Company AbCellera Biologics Inc., a company incorporated under the Business Corporations Act (British Columbia) (the "Company"), considers it essential to the best interests of its stockholders shareholders to promote and preserve foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many publicly-held corporations, the possibility of an involuntary termination of employment,... either before or after a Change in Control (as defined in Section 2 hereof) 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 key management personnel to the detriment of the Company and its stockholders. shareholders. Therefore, the Board has determined that appropriate steps the AbCellera Biologics Inc. Executive Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, Covered Executives (as defined in Section 2 hereof) to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and "at will" nature of the Covered Executives' employment with the Company, the Employee shall not have any right to be retained in the employ of the Company. as applicable. View More
Purpose. The Company Poshmark, Inc. (the "Company") considers it essential to the best interests of its stockholders to promote and preserve foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many corporations, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 hereof) hereof), exists and that such possibilit...y, and the uncertainty and questions that it may raise among management, may result in the departure or distraction of key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps the Poshmark, Inc. Executive Severance Plan for the Chief Executive Officer and Senior Executive Officers (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, Covered Executives (as defined in Section 2 hereof) to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and the Company, the Employee shall not have any right to be retained in the employ "at will" nature of the Covered Executives' employment with the Company. View More
Purpose. The Company Twilio Inc. (the "Company") considers it essential to the best interests of its stockholders to promote and preserve foster the continuous employment of key management personnel. personnel, especially the Company's Chief Executive Officer ("CEO"). The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many publicly held corporations, the possibility of an involuntary termination of employment, either before or after a Change in C...ontrol (as defined in Section 2 hereof) hereof), exists and that such possibility, and the uncertainty and questions that it may raise among management, especially the CEO, may result in the departure or distraction of key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps the Twilio Inc. Chief Executive Officer Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, CEO to their his or her assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and the Company, the Employee shall not have any right to be retained in the employ "at will" nature of the CEO's employment with the Company. View More
Purpose. The Company Twilio Inc. (the "Company") considers it essential to the best interests of its stockholders to promote and preserve foster the continuous employment of key management personnel. personnel, especially the Company's Chief Executive Officer ("CEO"). The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many publicly held corporations, the possibility of an involuntary termination of employment, either before or after a Change in C...ontrol (as defined in Section 2 hereof) hereof), exists and that such possibility, and the uncertainty and questions that it may raise among management, especially the CEO, may result in the departure or distraction of key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps the Twilio Inc. Amended Chief Executive Officer Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, CEO to their his or her assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and the Company, the Employee shall not have any right to be retained in the employ "at will" nature of the CEO's employment with the Company. View More
Purpose. The Company Rocket Lab USA, Inc., a Delaware corporation (the "Company") considers it essential to the best interests of its stockholders to promote and preserve foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many publicly-held corporations, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 here...of) 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 key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps the Rocket Lab USA, Inc. Executive Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, Covered Executives (as defined in Section 2 hereof) to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and the Company, the Employee shall not have any right to be retained in the employ "at will" nature of the Covered Executives' employment with the Company. View More
Purpose. The Company Graphite Bio, Inc., a Delaware corporation (the "Company") considers it essential to the best interests of its stockholders to promote and preserve foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many publicly-held corporations, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 hereof...) 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 key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps the Graphite Bio, Inc. Executive Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, Covered Executives (as defined in Section 2 hereof) to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and the Company, the Employee shall not have any right to be retained in the employ "at will" nature of the Covered Executives' employment with the Company. View More
Purpose. The Company Pardes Biosciences Inc. (the "Company") considers it essential to the best interests of its stockholders to promote and preserve foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many publicly-held corporations, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 hereof) hereof), exists a...nd that such possibility, and the uncertainty and questions that it may raise among management, may result in the departure or distraction of key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps the Pardes Biosciences Inc. Executive Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, Covered Executives (as defined in Section 2 hereof) to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and the Company, the Employee shall not have any right to be retained in the employ "at will" nature of the Covered Executives' employment with the Company. View More
Purpose. The Company Marqeta, Inc., (the "Company") considers it essential to the best interests of its stockholders to promote and preserve foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many corporations, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 hereof) hereof), exists and that such possibilit...y, and the uncertainty and questions that it may raise among management, may result in the departure or distraction of key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps the Marqeta, Inc. Executive Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, Covered Executives to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and the Company, the Employee shall not have any right to be retained in the employ "at will" nature of the Covered Executives' employment with the Company. View More
Purpose. The Company AquaVenture Holdings Limited (the "Company") considers it essential to the best interests of its stockholders shareholders to promote and preserve foster the continuous employment of key management personnel. The Board of Directors of the Company (the "Board") recognizes recognizes, however, that, as is the case with many corporations, publicly held companies, the possibility of an involuntary termination of employment, either before or after a Change in Control (as defined in Sectio...n 2 hereof) 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 key management personnel to the detriment of the Company and its stockholders. shareholders. Therefore, the Board has determined that appropriate steps this Key Executive Severance Plan (the "Plan") should be taken adopted to reinforce and encourage the continued attention and dedication of members of the Company's key management, including the Employee, Covered Executives to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. distraction. Nothing in this Agreement Plan shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between and nothing shall alter the Employee and the Company, the Employee shall not have any right to be retained in the employ "at will" nature of the Company. Covered Executives' employment with the Company or any of its direct or indirect subsidiaries (the "Company Group"). View More
