Common Contracts
2 similar Key Employee Severance Agreement contracts by Planar Systems Inc
SECOND AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENTKey Employee Severance Agreement • March 4th, 2015 • Planar Systems Inc • Electronic components, nec • Oregon
WHEREAS, the Company and Employee previously entered into a key employee severance agreement as of March 1, 2012, which was subsequently amended and restated as of November 25, 2014; and
SECOND AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENTKey Employee Severance Agreement • November 26th, 2014 • Planar Systems Inc • Electronic components, nec • Oregon
The Board of Directors of the Company considers the maintenance of sound and vital management to be essential to protecting and enhancing the best interests of the Company and its shareholders. In this connection, and in order to induce Employee to remain employed by the Company and remain focused on Employee’s important work for the Company in the face of longer-term uncertainties including a potential change of control of the Company and the potential impact of such uncertainties on Employee’s position with the Company, this Agreement, which has been approved by the Compensation Committee of the Company’s Board of Directors, sets forth the severance benefits that the Company will provide to Employee in the event Employee’s employment with the Company is terminated under the circumstances described in this Agreement.
