Executive not Offered Employment Sample Clauses

Executive not Offered Employment. If a Change in Control shall occur during the Term of Agreement, and the Executive is not offered full-time employment with the Corporation or the surviving entity, as applicable, following the Change in Control for the period of at least two (2) years following the Change in Control in the same position or in a position of equal pay and substantially equal status as his position with the Corporation immediately preceding the Change in Control, as determined by the Corporation in its discretion, the ISO, to the extent not otherwise vested and exercisable, shall become fully vested and exercisable with respect to 45,000 shares of the common stock of the Corporation on the effective date of the Change in Control; provided, however, that the Executive shall be entitled to benefits under this Section 9.5 only if he agrees to be available to consult with the entity that survives the Change in Control for a reasonable amount of time during the period of two (2) years following the effective date of the Change in Control given reasonable notice and reasonable consulting fees.
Sample 1
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Executive not Offered Employment. If the Executive does not receive an offer of full-time employment following the Change in Control with the Corporation or the surviving entity, as applicable, in the same position or in a position of equal pay and substantially equal status as his position with the Corporation immediately preceding the Change in Control, as determined by the Corporation in its discretion, the Executive shall be entitled to (i) the severance benefits described in Section 8 above on account of his termination of employment without Cause, and (ii) the payments described in Section 10.2 above on account of the Change in Control; provided, however, that the Executive shall be entitled to benefits under this Section 10.4 only if he agrees to be available to consult with the entity that survives the Change in Control for a reasonable amount of time during the period of two (2) years following the effective date of the Change in Control given reasonable notice and reasonable consulting fees.
Sample 1

Related to Executive not Offered Employment

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION PCA Article B.3 does not apply in School District No. 34 (Abbotsford).

  • Outside Employment Employees may engage in other employment outside of their State working hours so long as the outside employment does not involve a conflict of interest with their State employment. Whenever it appears that any such outside employment might constitute a conflict of interest, the employee is expected to consult with his/her appointing authority or other appropriate agency representative prior to engaging in such outside employment. Employees of agencies where there are established procedures concerning outside employment for the purpose of insuring compliance with specific statutory restrictions on outside employment are expected to comply with such procedures.

  • Alternative Employment An employer, in a particular redundancy case, may make application to the Commission to have the general severance pay prescription varied if the employer obtains acceptable alternative employment for an employee.

  • Employment Option If the State determines that it would be in the State’s best interest to hire an employee of the Contractor, the Contractor will release the selected employee from any non-competition agreements that may be in effect. This release will be at no cost to the State or the employee.

  • Subsequent Employment Those teachers whose employment commences after the start of the school year shall pay a pro-rated amount equal to the percentage of the remaining school year.

  • Termination of Employment Following a Change in Control Notwithstanding the provisions of Section 6.3 hereof to the contrary, if the Employee’s employment by the Company is terminated by the Company in accordance with the terms of Section 4 of the Termination Agreement and the Employee is entitled to benefits provided in Section 5 of the Termination Agreement, the Company shall pay to the Employee, in a lump sum in cash within 30 days after the Date of Termination, the aggregate of the Employee’s Base Salary (as in effect on the Date of Termination) through the Date of Termination, if not theretofore paid, and, in the case of compensation previously deferred by the Employee, all amounts of such compensation previously deferred shall be paid in accordance with the plan documents governing such deferral. Except with respect to the obligations set for forth in the Termination Agreement, notwithstanding any provisions herein to the contrary, all other obligations of the Company and rights of the Employee hereunder shall terminate effective as of the Date of Termination.

  • Employment Status This Agreement does not constitute a contract of employment or impose upon Executive any obligation to remain as an employee, or impose on the Company any obligation (i) to retain Executive as an employee, (ii) to change the status of Executive as an at-will employee or (iii) to change the Company’s policies regarding termination of employment.

  • Types of Employment 11.1 Employment categories Employees under this agreement will be employed in one of the following categories:

  • Exercise After Termination of Employment (A) Except as otherwise provided in this Agreement, the OPTION shall be exercisable only while the OPTIONEE is in the employment of the COMPANY and then only if the OPTION has become exercisable by its terms, and if not exercisable by its terms at the time the OPTIONEE ceases to be in the employment of the COMPANY, shall immediately expire on the date of termination of employment.

  • Location of Employment The Executive's principal place of business shall continue to be at the Company's headquarters to be located within thirty (30) miles of Doylestown, Pennsylvania; provided, that the Executive acknowledges and agrees that the performance by the Executive of his duties shall require frequent travel including, without limitation, overseas travel from time to time.

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