Term and Effect Prior to Change in Control Contract Clauses (12)
Grouped Into 1 Collection of Similar Clauses From Business Contracts
This page contains Term and Effect Prior to Change in Control clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Term and Effect Prior to Change in Control. a. Term. Except as otherwise provided for hereunder, this Agreement shall commence on the date hereof and shall remain in effect for a period of three (3) years from the date hereof (the "Initial Term") or until the end of the Contract Period, whichever is later. The Initial Term shall be automatically extended for an additional one year period on the anniversary date hereof (so that the Initial Term is always three (3) years) unless, prior to a Change in Control, the Board notifies the Executiv...e in writing at any time that the Contract is not so extended, in which case the Initial Term shall end upon the later of (i) three (3) years after the date hereof, or (ii) two (2) years after the date of such written notice. b. No Effect Prior to Change in Control. This Agreement shall not affect any rights of the Company to terminate the Executive prior to a Change in Control or any rights of the Executive granted in any other agreement or contract or plan with the Company. The rights, duties and benefits provided hereunder shall only become effective upon and after a Change in Control. If the full-time employment of the Executive by the Company is ended for any reason prior to a Change in Control, this Agreement shall terminate automatically and thereafter be of no further force and effect.View More
Term and Effect Prior to Change in Control. a. Term. a.Term. Except as otherwise provided for hereunder, this Agreement shall commence on the date hereof and shall remain in effect for a period of three (3) years from the date hereof (the "Initial Term") or until the end of the Contract Period, whichever is later. The Initial Term shall be automatically extended for an additional one year period on the anniversary date hereof (so that the Initial Term is always three (3) years) unless, prior to a Change in Control, the Board notifies the ...Executive in writing at any time that the Contract is not so extended, in which case the Initial Term shall end upon the later of (i) three (3) years after the date hereof, or (ii) two (2) years after the date of such written notice. b. No b.No Effect Prior to Change in Control. This Agreement shall not affect any rights of the Company to terminate the Executive prior to a Change in Control or any rights of the Executive granted in any other agreement or contract or plan with the Company. The rights, duties and benefits provided hereunder shall only become effective upon and after a Change in Control. If the full-time employment of the Executive by the Company is ended for any reason prior to a Change in Control, this Agreement shall terminate automatically and thereafter be of no further force and effect. 210 14.Severance Compensation and Benefits Not in Derogation of Other Benefits. Anything to the contrary herein contained notwithstanding, the payment or obligation to pay any monies, or granting of any benefits, rights or privileges to the Executive as provided in this Agreement shall not be in lieu or derogation of the rights and privileges that the Executive now has or will have under any plans or programs of or agreements with the Company, except that if the Executive received any payment hereunder, he shall not be entitled to any payment under the Company's severance policies for officers and employees or under any employment agreement between the Executive and the Company. View More
Term and Effect Prior to Change in Control. a. A. Term. Except as otherwise provided for hereunder, this Agreement shall commence on the date hereof and shall remain in effect for a period of three (3) 3 years from the date hereof (the "Initial Term") or or, if a Change in Control has occurred, until the end of the Contract Period, whichever is later. Period. The Initial Term shall be automatically extended for an additional one year one-year period on the anniversary date hereof (so that the Initial Term is always three (3) 3 years) unle...ss, prior to a Change in Control, unless the Board notifies of Directors of the Executive BANK, by a majority vote of the Directors then in writing at any time that the Contract is office votes not so extended, in which case to extend the Initial Term Term. The Executive shall end upon be promptly notified of the later of (i) three (3) years after the date hereof, or (ii) two (2) years after the date passage of such written notice. b. resolution. B. No Effect Prior to Change in Control. This Agreement shall not affect any rights of the Company to terminate BANK or the Executive prior to a Change in Control or any rights of the Executive granted in any other agreement agreement, plan or contract or plan with the Company. arrangements. The rights, duties and benefits provided hereunder shall only become effective upon and after a Change in Control. If the full-time employment of the Executive by the Company BANK is ended terminated for any reason prior to a Change in Control, this Agreement shall terminate automatically and thereafter be of no further force and effect. View More
