Common use of Discontinuance of Compensation Plan Participation Clause in Contracts

Discontinuance of Compensation Plan Participation. The Company fails to continue, or continue your participation in, any compensation plan in which you participated immediately before the Change in Control (or, with respect to Section 3(b), the Potential Change in Control) that is material to your total compensation, unless an equitable substitute arrangement has been adopted or made available on a basis not materially less favorable to you than the plan in effect immediately before the Change in Control (or the Potential Change in Control, if applicable), both as to the benefits you receive and your level of participation relative to other participants.

Appears in 18 contracts

Samples: Control Severance Agreement (Versar Inc), Employment Agreement (Versar Inc), Control Severance Agreement (Versar Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.