Common use of Resignation following a Change of Control Clause in Contracts

Resignation following a Change of Control. The Executive may terminate her employment during the period commencing on the date of the first Change of Control to occur following the Effective Date and ending on the 75th day following such Change of Control (the “Cessation Date”) by written notice provided to the Company on or prior to the 60th day following such Change of Control. Except as may otherwise be expressly provided in Section 7.1(a) or in any written agreement between the Company and Executive with respect to the issuance of awards under the Company’s Incentive Award Plan, upon termination of Executive’s employment, Executive shall be entitled to receive only the compensation accrued but unpaid for the period of employment prior to the date of such termination of employment and shall not be entitled to additional compensation. Such accrued compensation shall be paid in accordance with the Company’s ordinary payment practices and, in any event, on or prior to the fifteenth (15th) day of the third (3rd) calendar month following the end of the calendar year in which the date of termination occurs.

Appears in 2 contracts

Samples: Employment Agreement (Tanger Properties LTD Partnership /Nc/), Employment Agreement (Tanger Factory Outlet Centers Inc)

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Resignation following a Change of Control. The Executive may terminate her employment during the period commencing on the date of the first Change of Control to occur following the Effective Date and ending on the 75th day following such Change of Control (the “Cessation Date”) by written notice provided to the Company on or prior to the 60th day following such Change of Control. Except as may otherwise be expressly provided in Section 7.1(a) or in any written agreement between the Company and Executive with respect to the issuance of awards under the Company’s 's Incentive Award Plan, upon termination of Executive’s 's employment, Executive shall be entitled to receive only the compensation accrued but unpaid for the period of employment prior to the date of such termination of employment and shall not be entitled to additional compensation. Such accrued compensation shall be paid in accordance with the Company’s 's ordinary payment practices and, in any event, on or prior to the fifteenth (15th) day of the third (3rd) calendar month following the end of the calendar year in which the date of termination occurs.

Appears in 1 contract

Samples: Employment Agreement (Tanger Properties LTD Partnership /Nc/)

Resignation following a Change of Control. The Executive may terminate her his employment during the period commencing on the date of the first Change of Control to occur following the Effective Commencement Date and ending on the 75th day following such Change of Control (the “Cessation Date”) by written notice provided to the Company on or prior to the 60th day following such Change of Control. Except as may otherwise be expressly provided in Section 7.1(a) 7.1 or in any written agreement between the Company and the Executive with respect to the issuance of awards under the Company’s Amended and Restated Incentive Award Plan, upon termination of the Executive’s employment, Executive shall be entitled to receive only the compensation accrued but unpaid for the period of employment prior to the date of such termination of employment and shall not be entitled to additional compensation. Such Except as otherwise set forth in the Company’s employee benefit plans, such accrued compensation shall be paid in accordance with the Company’s ordinary payment practices and, in any event, on or prior to the fifteenth (15th) day of the third (3rd) calendar month following the end of the calendar year in which the date of termination occurs.

Appears in 1 contract

Samples: Employment Agreement (Tanger Properties LTD Partnership /Nc/)

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Resignation following a Change of Control. The Executive may terminate her his employment during the period commencing on the date of the first Change of Control to occur following the Effective Date and ending on the 75th day following such Change of Control (the “Cessation Date”) by written notice provided to the Company on or prior to the 60th day following such Change of Control. Except as may otherwise be expressly provided in Section 7.1(a) or in any written agreement between the Company and Executive with respect to the issuance of awards under the Company’s 's Incentive Award Plan, upon termination of Executive’s 's employment, Executive shall be entitled to receive only the compensation accrued but unpaid for the period of employment prior to the date of such termination of employment and shall not be entitled to additional compensation. Such accrued compensation shall be paid in accordance with the Company’s 's ordinary payment practices and, in any event, on or prior to the fifteenth (15th) day of the third (3rd) calendar month following the end of the calendar year in which the date of termination occurs.

Appears in 1 contract

Samples: Employment Agreement (Tanger Properties LTD Partnership /Nc/)

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