Effective Date; Position Sample Clauses

Effective Date; Position. The Executive and the Company agree that this Agreement is being entered into in contemplation of the consummation of the transaction contemplated by the Merger Agreement and that, without further action on the part of the parties hereto, this Agreement shall become effective upon the consummation of the Merger (the date of the consummation of the Merger, the “Effective Date”); provided that, if the Merger Agreement is terminated in accordance with its terms, then this Agreement shall be null and void and of no force or effect and the Existing Employment Agreement will remain in full force and effect. Subject to the foregoing, the Executive shall be employed by the Company during the Term (defined below) as its