Common use of Amendment or Termination of Agreement; Continuation of Agreement Clause in Contracts

Amendment or Termination of Agreement; Continuation of Agreement. This Agreement may be changed or terminated only upon the mutual written consent of the Company and Executive. The written consent of the Company to a change or termination of this Agreement must be signed by an executive officer of the Company (other than Executive) after such change or termination has been approved by the Board. Unless so terminated, this Agreement shall continue in effect for as long as Executive continues to be employed by the Company or by any surviving entity following any Change in Control. In other words, if, following a Change in Control, Executive continues to be employed by the surviving entity without a Covered Termination or Covered Termination Following a Change in Control and the surviving entity then undergoes a Change in Control, following which Executive is terminated by the subsequent surviving entity in a Covered Termination or Covered Termination Following a Change in Control, then Executive shall receive the payments and benefits described in Article 2 hereof in accordance with the terms of this Agreement.

Appears in 3 contracts

Samples: Severance Benefits Agreement (Portola Pharmaceuticals Inc), Severance Benefits Agreement (Portola Pharmaceuticals Inc), Severance Benefits Agreement (Portola Pharmaceuticals Inc)

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Amendment or Termination of Agreement; Continuation of Agreement. This Agreement may be changed or terminated only upon the mutual written consent of the Company and ExecutiveEmployee. The written consent of the Company to a change or termination of this Agreement must be signed by an executive officer of the Company (other than ExecutiveEmployee) after such change or termination has been approved by the Board. Unless so terminated, this Agreement shall continue in effect for as long as Executive Employee continues to be employed by the Company or by any surviving entity following any Change in of Control. In other words, if, following a Change in of Control, Executive Employee continues to be employed by the surviving entity without a Covered Termination or Covered Termination Following a Change in Control and the surviving entity then undergoes a Change in of Control, following which Executive Employee is terminated by the subsequent surviving entity in a Covered Termination or Covered Termination Following a Change in ControlTermination, then Executive Employee shall receive the payments and benefits described in Article 2 hereof in accordance with the terms of this Agreementhereof.

Appears in 1 contract

Samples: Severance Benefit Agreement (Sanmina-Sci Corp)

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