No Obligation of Employment. Nothing in this Agreement shall be construed as an express or implied contract of employment between the Executive and the Company (or its subsidiaries, affiliate or divisions) or as a commitment on the part of the Company to retain Executive in any capacity for any period of time. Executive understands that the employment relationship between the Executive and the Company will be “at will” and the Executive understands that the Company may terminate Executive with or without “Cause” at any time (including prior to a Change in Control) or for any or no reason. Following any Change in Control, the Company may also terminate Executive with or without “Cause” at any time subject to the terms of this Agreement and the Executive’s rights and the Company’s obligations specified in the Executive Officer Change in Control Agreement.
Appears in 3 contracts
Samples: Agreement Regarding Termination Benefits (Teradyne, Inc), Agreement Regarding Termination Benefits (Teradyne, Inc), Agreement Regarding Termination Benefits (Teradyne, Inc)
No Obligation of Employment. Nothing in this Agreement shall be construed as an express or implied contract of employment between the Executive and the Company (or its subsidiaries, affiliate or divisions) or as a commitment on the part of the Company to retain Executive in any capacity for any period of time. Executive understands that the employment relationship between the Executive and the Company Teradyne will be “at will” and the Executive understands that the Company may terminate Executive with or without “Cause” at any time (including prior to a Change in Control) or for any or no reason. Following any Change in Control, the Company may also terminate Executive Employee with or without “Cause” at any time subject to the terms of this Agreement and the Executive’s rights and the Company’s obligations specified in the Executive Officer Change in Control AgreementAgreement previously executed between the Company and the Executive dated October 19, 2001.
Appears in 2 contracts
Samples: Agreement Regarding Termination Benefits (Teradyne Inc), Agreement Regarding Termination Benefits (Teradyne Inc)
No Obligation of Employment. Nothing in this Agreement shall be construed as an express or implied contract of employment between the Executive and the Company (or its subsidiaries, affiliate or divisions) or as a commitment on the part of the Company to retain Executive in any capacity for any period of time. Executive understands that the employment relationship between the Executive and the Company will be “at will” and the Executive understands that the Company may terminate Executive with or without “Cause” at any time (including prior to a Change in Control) or for any or no reason. Following any Change in Control, the Company may also terminate Executive with or without “Cause” at any time subject to the terms of this Agreement and the Executive’s rights and the Company’s obligations specified in the Executive Officer Change in Control Agreement.
Appears in 2 contracts
Samples: Amended and Restated Agreement Regarding Termination Benefits (Teradyne, Inc), Amended and Restated Agreement Regarding Termination Benefits (Teradyne, Inc)