Definition of Term. The Term of this Agreement shall commence on the date hereof and shall continue throughout the term of Stockholder's employment with the Company under the Employment Agreement of even date herewith among Buyer, the Company and Stockholder (the "Employment Agreement") and for a period following the termination of Stockholder's employment under the Employment Agreement equal to either (A) 18 months, in the event that Stockholder's employment under the Employment Agreement terminates for any reason at any time prior to the second anniversary of the date hereof or (B) 12 months, in the event that Stockholder's employment under the Employment Agreement terminates for any reason (including termination of the Employment Agreement in accordance with its terms) at any time from or after the second anniversary of the date hereof (the "Term"); provided, however, that (i) under no circumstances shall the Term of this Agreement extend beyond the fifth anniversary of the date hereof and (ii) in the event of a Change of Control (as defined in the Employment Agreement) of Buyer, if Stockholder's employment under the Employment Agreement is terminated without Cause or pursuant to a Constructive Termination (each as defined in the Employment Agreement) following such Change of Control, then the Term of this Agreement shall terminate immediately.
Appears in 4 contracts
Samples: Agreement and Plan of Reorganization (Etoys Inc), Agreement and Plan of Reorganization (Etoys Inc), Etoys Inc
