CIC Agreements definition
Examples of CIC Agreements in a sentence
Except as may be modified hereby, the CIC Agreements and the arrangements providing for CIC Payments shall remain in full force and effect.
Employees of H▇▇▇▇ Corporation and H▇▇▇▇ Logistic Services, L.L.C. (“HLS”) at pay grades 34 and above will receive CIC Agreements either upon hire or promotion to an eligible pay grade level at the benefit level described in Section 2 below.
Parent and the Company further agree that following the Effective Time none of such executive officers shall be bound by any of the noncompetition provisions of the CIC Agreements.
Parent further agrees that the amounts payable to an executive officer whose employment terminates due to a "Qualifying Termination" within the "Window Period" under the CIC Agreements (as amended to reflect this Section 7.14(f)) shall be no less than the amounts set forth in Section 7.14(f) of the Company Disclosure Letter.
Parent agrees that the CIC Agreements shall be binding upon, and shall inure to the benefit of, any successor to the Company, and any such successor shall be deemed substituted for all purposes as the "Company" under the terms of the CIC Agreements.
Effective as of the Effective Time, Colonial Merger Sub hereby assumes the CIC Agreements with Messrs.
On May 15, 2009 (and on each subsequent May 15th) the term of the CIC Agreements will be automatically extended for one additional year, unless H▇▇▇▇ gives notice to each executive 60 days prior to the automatic extension date.
Knight, Olander, Remppies and ▇▇▇▇▇▇▇ as set forth in Section 5.12(a) of the Agreement will be considered a termination by the Company other than for cause (as those terms are defined under the CIC Agreements and the Employment Agreements).
Knight, Olander, Remppies and ▇▇▇▇▇▇▇ shall be entitled to all rights and benefits under their respective CIC Agreements, and, as of the Closing Date, Cornerstone will pay a lump sum amount to each of Messrs.
For example, if an eligible executive is hired on and enters into a CIC Agreement on March 1, 2008, the initial term of his CIC Agreement will last until May 15, 2010, and if H▇▇▇▇ does not give a notice of nonextension by March 16, 2009, then the term of the CIC Agreements will be automatically extended to May 15, 2011 on May 15, 2009.