The Company’s Covenants. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s covenants set forth in Sections 5, 16 and 18 of this Agreement, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payment (as defined in Section 6 below) and the other payments and benefits described herein. This Agreement shall not be construed as creating an express or implied contract of employment, and except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.
Appears in 5 contracts
Samples: Change in Control Agreement (Sport Supply Group, Inc.), Control Agreement (Sport Supply Group, Inc.), Control Agreement (Sport Supply Group, Inc.)
The Company’s Covenants. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s covenants set forth in Sections 5, 16 and 18 of this AgreementSection 4 hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payment (as defined in Section 6 below) Payments and the other payments and benefits described herein. No Severance Payments or other benefits shall be payable or provided under this Agreement unless there shall have been a termination of the Executive’s employment with the Company on or following a Change in Control and during the Term. This Agreement shall not be construed as creating an express or implied contract of employmentemployment and, and except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.
Appears in 2 contracts
Samples: Change in Control Agreement (Tractor Supply Co /De/), Change in Control Agreement (Tractor Supply Co /De/)
The Company’s Covenants. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s covenants set forth in Sections 5, 16 and 18 or 17 of this Agreement, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payment (as defined in Section 6 below) and the other payments and benefits described herein. This Agreement shall not be construed as creating an express or implied contract of employmentemployment and, and except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.
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