Examples of CIC Agreement in a sentence
Capitalized terms not defined herein shall have the meanings assigned to them in the applicable Licensed Product Agreement between Customer and CIC ("Agreement").
Upon execution of this Agreement and, except as provided in Section 2 of this Agreement, in full and complete satisfaction of the Company’s obligations to Xxxxxxxxx arising under Sections 1 and 2 of the CIC Agreement as a result of the Transaction, the Company will, within five days of the date of this Agreement, pay Xxxxxxxxx $686,000 (the “CIC Payment”).
Except for the Company’s obligations to Xxxxxx under Sections 3 and 5 of the CIC Agreement, which, shall remain in full force and effect following the payment to Xxxxxxxxx under Section 1, the Company (nor any successor or assignee) shall have no further obligation to Xxxxxxxxx under the CIC Agreement.
From and after the Effective Date, the Executive shall not be entitled to any rights or benefits under the Prior CIC Agreement.
The CIC Agreements have an initial term ending on April 30, 2019, subject to automatic successive one-year renewals after the initial term unless a party to CIC Agreement provides written notice of non-renewal to the other party as specified in the CIC Agreement.