TERMINATION BY THE COMPANY FOLLOWING CHANGE OF CONTROL Sample Clauses
The 'Termination by the Company Following Change of Control' clause allows a company to end an employee's contract if there is a significant change in the ownership or control of the company, such as a merger or acquisition. Typically, this clause outlines the specific events that constitute a change of control and may detail the notice period or severance terms applicable to the employee in such cases. Its core function is to provide the company with flexibility to restructure its workforce or management team in response to major organizational changes, thereby managing potential risks and ensuring smooth transitions during corporate takeovers.
TERMINATION BY THE COMPANY FOLLOWING CHANGE OF CONTROL. Notwithstanding Sections 9(b), 9(c) and 9(d) above, in the event that, at any time within 90 days following a Change of Control (as hereinafter defined), either (i) the Company shall terminate the Employee's employment without Good Cause as defined in Section 9(a) or (ii) the Employee shall terminate the Employee's employment without there being a Good Cause termination by the Company pending, then and in either such event, such termination shall be treated as a termination pursuant to this Section 9(g) rather than Section 9(b), 9(c) or 9(d), as the case may be, and the Employee shall be entitled to receive until the later of (A) two (2) years after the Termination Date or (B) the Expiration Date, her Base Salary at the rate then in effect (plus cost of living adjustments as provided above). The Employee shall also be paid any accrued vacation pay to the date of such termination for the applicable year only, and any sick leave for appropriate sick day absences then accrued but unpaid or unpaid expense reimbursements that may then be properly due. The amounts payable to the Employee shall not be subject to any
TERMINATION BY THE COMPANY FOLLOWING CHANGE OF CONTROL. The Executive shall be entitled to a lump sum payment determined in accordance with section 3.5 in the event the Executive’s employment is terminated by the Company other than pursuant to section 3.2 within one (1) year of a Change of Control even if a Triggering Event has not occurred, provided that section 4.5 has been satisfied by the Executive. For greater certainty, the Executive shall not be entitled to any payment by the Company pursuant to this section 3.7 or otherwise if the Executive’s employment is terminated by the Company pursuant to section 3.2 of this Agreement.
TERMINATION BY THE COMPANY FOLLOWING CHANGE OF CONTROL. In the event of a Change of Control (as defined below) of the Company, the Company shall require any Successor (as defined below) to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if the Change of Control had not occurred. Notwithstanding the assumption of this Agreement by the Successor, and its agreement to perform the duties and obligations of the Company hereunder, the Company shall remain jointly liable with the Successor with respect to any breach of such duties and obligations. As used herein, a “Change of Control” of the Company shall mean the acquisition by a “Successor,” whether directly or indirectly, by purchase, merger, consolidation or otherwise, of all or substantially all of the common stock, business and/or assets of such Company; provided, however, that a Change of Control shall not be deemed to have occurred as a result of an increased ownership interest of the Company by GIANT GROUP, LTD., or any of their respective affiliates, or a transfer of any such ownership interests by any such entity to any of its affiliates.
TERMINATION BY THE COMPANY FOLLOWING CHANGE OF CONTROL. Notwithstanding Sections 9(b), 9(c) and 9(d) above, in the event that, at any time within 90 days following a Change of Control (as hereinafter defined), either (i) the Company shall terminate the Employee's employment without Good Cause as defined in Section 9(a) or (ii) the Employee shall terminate the Employee's employment without there being a Good Cause termination by the Company pending, then and in either such event, such termination shall be treated as a termination pursuant to this Section 9(g) rather than Section 9(b), 9(c) or 9(d), as the case may be, and the Employee shall be entitled to receive until the later of (A) two (2) years after the Termination Date or (B) the Expiration Date, his Base Salary at the rate then in effect (plus cost of living adjustments as provided above). The Employee shall also be paid any accrued vacation
TERMINATION BY THE COMPANY FOLLOWING CHANGE OF CONTROL. In the event of a Change of Control (as defined below) of the Company, the Company shall require any Successor (as defined below) to assume and agree to perform this Agreement in the same manner and to the same extent that such Company would be required to perform if the Change of Control had not occurred. Upon the assumption of this Agreement by the Successor, and its agreement to perform the duties and obligations of such Company hereunder, that Company shall be released from any further liability under this Agreement. As used herein, a "Change of Control" of the Company shall mean the acquisition by a "Successor," whether directly or indirectly, by purchase, merger, consolidation or otherwise, of all or substantially all of the common stock, business and/or assets of such Company; provided, however, that a Change of Control shall not be deemed to have occurred as a result of an increased ownership interest of the Company by Carl Karcher Enterprises, Inc. ▇▇ Fidelity National Financial, Inc., or any of their respective affiliates, or a transfer of any such ownership interests by any such entity to any of its affiliates.