Common use of Eligible Termination Clause in Contracts

Eligible Termination. The Executive will receive the benefits set forth in this Agreement in the event the Executive is either (i) involuntarily terminated by the Company for a reason other than Cause or (ii) resigns for Good Reason (each, a “Termination Event”), in either case during the Change in Control Period and in either case provided that such Termination Event constitutes a “separation from service” within the meaning of Section 409A of the Code (“Separation From Service”).

Appears in 3 contracts

Sources: Key Employee Retention Agreement (Emulex Corp /De/), Key Employee Retention Agreement (Emulex Corp /De/), Key Employee Retention Agreement (Emulex Corp /De/)

Eligible Termination. The Executive will receive the benefits set forth in this the Agreement in the event the Executive is either (i) involuntarily terminated by the Company for a reason other than Cause or (ii) resigns for Good Reason (eachcollectively, a “Termination Event”), in either case during the Change in Control Period and in either case provided that such Termination Event constitutes a “separation from service” within the meaning of Section 409A of the Code (“Separation From Service”)Code.

Appears in 1 contract

Sources: Key Employee Retention Agreement (Emulex Corp /De/)