Common use of Termination Upon a Change of Control Clause in Contracts

Termination Upon a Change of Control. In the event of a Termination Upon A Change of Control, EXECUTIVE shall promptly be paid all accrued salary, bonus compensation to extent earned, vested deferred compensation (other than pension or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of NUTEK OIL in which EXECUTIVE is a participant to the full extent of EXECUTIVE's rights under such plans, accrued vacation pay and any appropriate business expenses incurred by EXECUTIVE in connection with his duties hereunder, all to the date of termination. Thereafter, EXECUTIVE will be retained as an advisor and consultant during the Advisory Period in accordance with Paragraph 1.2.

Appears in 3 contracts

Samples: Compensation Agreement (Nutek Oil Inc.), Nutek Oil Inc., Nutek Oil Inc.

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Termination Upon a Change of Control. In the event of a Termination Upon A a Change of in Control, EXECUTIVE XXXXX shall promptly be paid all accrued salary, bonus compensation to extent earned, vested deferred compensation (other than pension or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of NUTEK OIL WORLD in which EXECUTIVE XXXXX is a participant to the full extent of EXECUTIVE's XXXXX'x rights under such plans, accrued vacation pay and any appropriate business expenses incurred by EXECUTIVE XXXXX in connection with his duties hereunder, all to the date of termination. Thereafter, EXECUTIVE XXXXX will be retained as an advisor and consultant during the Advisory Period in accordance with Paragraph 1.2.

Appears in 2 contracts

Samples: Executive Compensation Agreement (World Financial Systems Co LTD), Executive Compensation Agreement (World Financial Systems Co LTD)

Termination Upon a Change of Control. In the event of a Termination Upon A Change of Control, EXECUTIVE shall promptly be paid all accrued salary, bonus compensation to extent earned, vested deferred compensation (other than pension or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of NUTEK OIL GREENSTART in which EXECUTIVE is a participant to the full extent of EXECUTIVE's rights under such plans, accrued vacation pay and any appropriate business expenses incurred by EXECUTIVE in connection with his duties hereunder, all to the date of termination. Thereafter, EXECUTIVE will be retained as an advisor and consultant during the Advisory Period in accordance with Paragraph 1.2.

Appears in 2 contracts

Samples: Compensation Agreement (GreenStart, Inc.), Compensation Agreement (GreenStart, Inc.)

Termination Upon a Change of Control. In the event of a Termination Upon A Change of Control, EXECUTIVE shall promptly be paid all accrued salary, bonus compensation to extent earned, vested deferred compensation (other than pension or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of NUTEK OIL STXX in which EXECUTIVE is a participant to the full extent of EXECUTIVE's rights under such plans, accrued vacation pay and any appropriate business expenses incurred by EXECUTIVE in connection with his duties hereunder, all to the date of termination. Thereafter, EXECUTIVE will be retained as an advisor and consultant during the Advisory Period in accordance with Paragraph 1.2.

Appears in 1 contract

Samples: South Texas Oil Co

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Termination Upon a Change of Control. In the event of a Termination Upon A Change of Control, EXECUTIVE shall promptly be paid all accrued salary, bonus compensation to extent earned, vested deferred compensation (other than pension or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of NUTEK OIL XXXXXXX ENERGY in which EXECUTIVE is a participant to the full extent of EXECUTIVE's rights under such plans, accrued vacation pay and any appropriate business expenses incurred by EXECUTIVE in connection with his duties hereunder, all to the date of termination. Thereafter, EXECUTIVE will be retained as an advisor and consultant during the Advisory Period in accordance with Paragraph 1.2.

Appears in 1 contract

Samples: Compensation Agreement (Amerigo Energy, Inc.)

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