Divestiture, etc Clause Samples
The "Divestiture, etc" clause outlines the requirements and procedures for a party to sell, transfer, or otherwise dispose of certain assets, businesses, or interests, often as a condition to regulatory approval or to resolve antitrust concerns. In practice, this clause may specify which assets must be divested, set timelines for the divestiture process, and detail the standards for acceptable buyers. Its core function is to ensure compliance with legal or regulatory mandates, thereby facilitating the completion of a transaction while addressing competition or ownership issues.
Divestiture, etc. If the Employee’s employment is terminated due to a reduction in force, divestiture or discontinuance of certain of the Corporation’s operations after the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Cash Units. If the Employee’s termination of employment under this subsection occurs during the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Cash Units prorated in accordance with Section 3(b) above.
Divestiture, etc. If the Optionee’s employment is terminated due to a Corporation approved reduction in force program or divestiture or discontinuance of certain of the Corporation’s operations, an Option may continue to vest and be exercised for three (3) years after termination of employment or until the Final Expiration Date if sooner.
Divestiture, etc. If the Employee’s employment is terminated due to a reduction in force, divestiture or discontinuance of certain of the Corporation’s operations after the First Service Period, then the second service based vesting requirement shall be satisfied with respect to the “earned” Incentive Stock Rights. If the Employee’s termination of employment under this subsection occurs during the First Service Period, then the service based vesting requirements shall be satisfied with respect to the number of Incentive Stock Rights prorated in accordance with Section 3(b) above.
Divestiture, etc. Subject to the provisions of subsection (g) below, if the Employee’s employment is terminated due to a reduction in force or divestiture or discontinuance of certain of the Corporation’s operations after the Performance Period, the possibility of forfeiture shall lapse. If Employee’s termination of employment under this subsection occurs during the Performance Period, such lapse shall not occur until the actual number of shares earned (prorated in accordance with Section 3 above) is approved by the Committee.
Divestiture, etc. If the Employee's employment is terminated due to a reduction in force, divestiture or discontinuance of certain of the Corporation's, then the second service based vesting requirement shall be satisfied with respect to the "earned" Incentive Stock Rights as calculated in Section 3(b) above.
Divestiture, etc. If the Employee's employment is terminated due to a reduction in force or divestiture or discontinuance of certain of the Company's operations, the portion of the Option which had vested prior to such termination may be exercised for one year after such termination of employment, and shall terminate thereafter.