Purpose Clause Example with 21 Variations from Business Contracts

Purpose. The Company Pliant Therapeutics, 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 Pliant Therapeutics, 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 Okta, 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 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 Okta, 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 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. 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 Twilio Inc. Senior 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 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. 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 Twilio Inc. 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 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. 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 Twilio Inc. 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 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 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. View More

Purpose. The Company Essex Property Trust, 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 a Change in Control (as defined in Section 2 hereof) exists and that 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 Essex Property Trust, 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 Employee to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. For purposes of this Plan, "Covered Employee" shall mean the officers and members of senior management of the Company who were eligible to receive benefits under the Plan as of the date the amendment and restatement of the Plan became effective (as set forth above) and such other officer or member of senior management of the Company that the Board, in its sole discretion, selects to participate in the Plan. 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 Covered Employee and the Company or any of its subsidiaries or affiliates (together with the Company, the "Employers"), the Covered Employee shall not have any right to be retained in the employ of the Company. Employers. View More

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, that 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, management may result in the departure or distraction o...f key management personnel to the detriment of the Company and its stockholders. Company. 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 Employers' key management, including the Employee, Executive, 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

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 Employers' key management, including the Employee, Executive, to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. This Agreement is intended to be the exclusive source of severance payments to the Executive and to replace the Executive's offer letter dated [insert date] (the "Offer Letter") in its entirety. Therefore, in consideration of this Agreement, the Executive agrees that the Offer Letter is hereby terminated and of no further force and effect from and after the date hereof. 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 Executive and the Company, Employers, the Employee Executive shall not have any right to be retained in the employ of the Company. Employers. View More

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. Control and to provide certain benefits to the Employee following a Qualifying Termination in connection with a Change in Control (often described as ‘double trigger'). 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