Common use of Duration of Employment Clause in Contracts

Duration of Employment. This Agreement and the employment relationship hereunder will continue in effect for three (3) years from the Closing Date through the third anniversary date thereof. It may be extended by mutual, written agreement at any time. Notwithstanding the foregoing, in the event that a "Change in Control" (as herein defined) occurs during the original or any extended term of this Agreement, this Agreement shall automatically be extended to a date which is the second anniversary of such Change in Control. In addition, the provisions of Section 7 relating to a Change in Control will, notwithstanding the expiration of this Agreement, continue until the Board of Directors terminates said provision. In the event of the Executive's termination of employment during the term of this Agreement, the Company's obligation to continue to pay all base salary, bonus and other benefits then accrued shall terminate except as may be provided for in Sections 6.1, 6.2, 6.3, 6.4, and 7 of this Agreement.

Appears in 6 contracts

Samples: Employment Agreement (Universal Compression Holdings Inc), Employment Agreement (Universal Compression Holdings Inc), Employment Agreement (Universal Compression Inc)

AutoNDA by SimpleDocs

Duration of Employment. This Agreement and the employment relationship hereunder will continue in effect for three (3) years from the Closing Date through the third anniversary date thereof. It may be extended by mutual, written agreement at any time. Notwithstanding the foregoing, in the event that a "Change in Control" (as herein defined) occurs during the original or any extended term of this Agreement, this Agreement shall automatically be extended to a date which is the second anniversary of such Change in Control. In addition, the provisions of Section 7 9 relating to a Change in Control will, notwithstanding the expiration of this Agreement, continue until the Board of Directors terminates said provision. In the event of the Executive's termination of employment during the term of this Agreement, the Company's obligation to continue to pay all base salary, bonus and other benefits then accrued shall terminate except as may be provided for in Sections 6.1, 6.2, 6.3, 6.4, and 7 of this AgreementAgreement .

Appears in 2 contracts

Samples: Employment Agreement (Universal Compression Holdings Inc), Employment Agreement (Universal Compression Inc)

Duration of Employment. This Agreement and the employment relationship hereunder will continue in effect for three (3) years from the Closing Date through the third anniversary date thereof. It may be extended by mutual, written agreement at any time. Notwithstanding the foregoing, in the event that a "Change in Control" (as herein defined) occurs during the original or any extended term of this Agreement, this Agreement shall automatically be extended to a date which is the second anniversary of such Change in Control. In addition, the provisions of Section 7 relating to a Change in Control will, notwithstanding the expiration of this Agreement, continue until the Board of Directors terminates said provision. In the event of the Executive's termination of employment during the term of this Agreement, the Company's obligation to continue to pay all base salary, bonus and other benefits then accrued shall terminate except as may be provided for in Sections 6.1, 6.2, 6.3, 6.4, and 7 of this AgreementAgreement .

Appears in 2 contracts

Samples: Employment Agreement (Universal Compression Holdings Inc), Employment Agreement (Universal Compression Inc)

AutoNDA by SimpleDocs

Duration of Employment. This Agreement and the employment relationship hereunder will continue in effect for three (3) years from the Closing Date April 12, 1999 through the third anniversary date thereof. It may be extended by mutual, written agreement at any time. Notwithstanding the foregoing, in the event that a "Change in Control" (as herein defined) occurs during the original or any extended term of this Agreement, this Agreement shall automatically be extended to a date which is the second anniversary of such Change in Control. In addition, the provisions of Section 7 relating to a Change in Control will, notwithstanding the expiration of this Agreement, continue until the Board of Directors terminates said provision. In the event of the Executive's termination of employment during the term of this Agreement, the Company's obligation to continue to pay all base salary, bonus and other benefits then accrued shall terminate except as may be provided for in Sections 6.1, 6.2, 6.3, 6.4, and 7 of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Universal Compression Inc)

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