Key Man Clause Sample Clauses
POPULAR SAMPLE Copied 3 times
Key Man Clause. In the event ▇▇▇▇ ▇▇▇▇▇▇ ("▇▇▇▇▇▇") shall at any time during the Term cease to be employed as the [senior executive in charge of sales and distribution] for Agent, Agent shall immediately notify Producer in writing. Producer then may (but shall have no obligation, to) terminate this Agreement by providing written notice thereof to Agent. In the event of such termination, Agent shall continue to distribute any Picture with respect to which it has (i) received all materials set forth in the delivery schedule for such Picture; and (ii) commenced marketing and distribution efforts (such a Picture is referred to herein as a "Delivered Picture"), and all obligations of Agent to Producer hereunder shall continue with respect to all Delivered Pictures. Producer shall have no obligation to deliver (or to complete delivery) to Agent of any Picture which is not a Delivered Picture at the time ▇▇▇▇▇▇'▇ services are terminated. Agent shall immediately return to Producer all materials in its possession with respect to any Picture which is not a Delivered Picture. If the foregoing correctly reflects your understanding, please sign at the place provided below whereupon this letter will constitute a binding agreement between us as of the day and year first above written. AGREED TO AND ACCEPTED: FRANCHISE PICTURES, LLC ("Agent") By: S/▇.▇. ▇▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇ Its: Executive Vice President MAGELLAN FILM SAILS, INC. ("Producer") By: S/▇▇▇▇▇▇ ▇▇▇▇▇ Its: Agent 151
Key Man Clause. J▇▇▇ ▇▇▇▇▇ and/or S▇▇▇▇▇▇ ▇▇▇▇▇▇ will continue their current employment with their current respective responsibilities throughout the term of this Agreement; provided that if both J▇▇▇ ▇▇▇▇▇ and S▇▇▇▇▇▇ ▇▇▇▇▇▇ are no longer so employed, replacement(s) acceptable to Buyer in its sole and absolute discretion shall be appointed within 30 days after their departure.
Key Man Clause. Employee may terminate this Agreement at any time during the first two years of the Term hereunder upon ninety (90) days written notice if Roge▇ ▇▇▇▇▇▇▇ ▇▇▇ses to occupy and discharge both of the offices of Chairman of the Board and Chief Executive Officer of Company, which notice by Employee may occur no later than ninety (90) days after such departure of Roge▇ ▇▇▇▇▇▇▇. ▇▇on the effective date of such termination by Employee, Company shall be relieved of the obligation to pay or provide salary or other compensation and/or benefits to Employee for any period subsequent to such termination date, excepting only the obligation to pay to Employee a lump sum amount equal to nine (9) months salary and provide Employee any Warrants and/or stock options vested at that time.
Key Man Clause. Any Employer working in the geographical area of the Union signatory to this Agreement shall be entitled to one (1) key man under the following conditions:
1. The man must be a member in good standing of the Union for a period of not less than one (1) year.
2. First and last man on the job will be a local man.
3. There shall be one (1) key man on a project unless it is otherwise agreed to by the local Business Agent. This rule shall be applied as follows: the first employee on a job, including supervision, may be selected by the employer, thereafter, the next two employees must be hired from the local union, thereafter, the employer then may select the next employee, with the local union and employer alternating selections thereafter.
Key Man Clause. Employee may terminate this Agreement at any time during the first two years of the Term hereunder upon ninety (90) days written notice if Roge▇ ▇▇▇▇▇▇▇ ▇▇▇ses to occupy and discharge both of the offices of Chairman of the Board and Chief Executive Officer of Company, which notice by Employee may be given no later than ninety (90) days after such departure of Roge▇ ▇▇▇▇▇▇▇. ▇▇on the effective date of such termination by Employee, Company shall be relieved of the obligation to pay or provide salary or other compensation and/or benefits to Employee for any period subsequent to such termination date, but upon such termination Company (i) shall pay to Employee a lump sum payment in an amount equal to nine (9) months salary; (ii) provide Employee any Warrants and/or stock options vested at that time; and (iii) shall pay up to but not in excess 7 of the first nine (9) months of so-called COBRA health benefits payments incurred by Employee in continuing his health benefits insurance.