Common use of Non-Termination of Employment; No Third-Party Beneficiaries Clause in Contracts

Non-Termination of Employment; No Third-Party Beneficiaries. Except as expressly provided in this Agreement, no provision of this Agreement or the Separation Agreement shall be construed to create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any future, present, or former employee of Circuit City, a Circuit City Entity, CarMax, or a CarMax Entity under any Circuit City Plan or CarMax Plan or otherwise. Without limiting the generality of the foregoing: (i) except as expressly provided in this Agreement, neither the occurrence of the consummation of the Separation nor the termination of the Participating Company status of CarMax or a CarMax Entity shall cause any employee to be deemed to have incurred a termination of employment which entitles such individual to the commencement of benefits under any of the CarMax Plans or any of the Individual Agreements; (ii) except as expressly provided in this Agreement, nothing in this Agreement shall preclude CarMax or any CarMax Entity, at any time after the consummation of the Separation, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any CarMax Plan, any benefit under any Plan or any trust, insurance policy or funding vehicle related to any CarMax Plan; and (iii) except as expressly provided in this Agreement, nothing in this Agreement shall preclude Circuit City or any Circuit City Entity, at any time after the Close of the Separation Date, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Circuit City Plan, any benefit under any Plan or any trust, insurance policy or funding vehicle related to any Circuit City Plan.

Non-Termination of Employment; No Third-Party Beneficiaries. Except as expressly provided in this Agreement, no No provision of this Agreement or the Separation Principal Agreement shall be construed to create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any Tronox Individual or Transferred Individual or other future, present, present or former employee of Circuit CityXxxx-XxXxx, a Circuit City Xxxx-XxXxx Entity, CarMaxTronox, or a CarMax Tronox Entity under any Circuit City Xxxx-XxXxx Plan or CarMax Tronox Employee Benefit Plan or otherwise. Without limiting the generality of the foregoing: (ia) except as expressly provided in this Agreement, neither the occurrence of IPO, the consummation of the Separation Distribution (or Exchange) nor the termination of the Participating Company status of CarMax Tronox or a CarMax Tronox Entity shall cause any employee to be deemed to have incurred a termination of employment or layoff which entitles such individual to the commencement of benefits under any of the CarMax Plans Xxxx-XxXxx Employee Benefit Plans, any of the Tronox Plans, or any of the Individual Agreements; and (iib) except as expressly provided in this Agreement, nothing in this Agreement shall preclude CarMax or any CarMax Entity, at any time after the consummation of the Separation, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any CarMax Plan, any benefit under any Plan or any trust, insurance policy or funding vehicle related to any CarMax Plan; and (iii) except as expressly provided in this Agreement, nothing in this Agreement shall preclude Circuit City or any Circuit City EntityTronox, at any time after the Close of the Separation Distribution Date, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Circuit City Tronox Employee Benefit Plan, any benefit under any Plan or any trust, insurance policy or funding vehicle related to any Circuit City Tronox Employee Benefit Plan.