CIC Term definition

CIC Term. The term of the CIC Agreement as specified in Section 2.2 of this Agreement.
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CIC Term means the period commencing as of the Effective Date and expiring as of the close of business on the second anniversary of the Effective Date, provided, however, that (i) commencing on January 1, 2014 and each January 1 thereafter, the CIC Term shall automatically be extended for an additional year unless, not later than September 30 of the immediately preceding year, the Company or the Executive shall have given notice that it or he, as the case may be, does not wish to have the CIC Term extended and (ii) upon a Change in Control, the CIC Term shall be extended to the second anniversary of such Change in Control. Notwithstanding the foregoing, if, at any time prior to a Change in Control, the Executive for any reason is no longer an employee of the Company or a Subsidiary, thereupon the CIC Term shall be deemed to have expired.
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Examples of CIC Term in a sentence

  • The Company or the Executive may elect to terminate the automatic extension of the Term by giving written notice of such election not less than (i) one year prior to the end of the Initial Term or any Renewal Term, as applicable, or (ii) 90 days prior to the end of the CIC Term or any Post-CIC Renewal Term, as applicable (the “Non-Renewal Notice”).

  • Unless a Non-Renewal Notice is given as herein provided or Executive’s employment is earlier terminated in accordance with the terms of this Agreement, the period of Executive’s employment shall, as of and following the expiration of the CIC Term, be automatically extended for additional 12-month periods (individually, and collectively, the “Post-CIC Renewal Term”).

  • Unless a Non- Renewal Notice is given as herein provided or Executive’s employment is earlier terminated in accordance with the terms of this Agreement, the period of Executive’s employment shall, as of and following the expiration of the CIC Term, be automatically extended for additional twelve (12)-month periods (individually, and collectively, the “Post-CIC Renewal Term”).

  • Unless a Final Non-Renewal Notice is given as herein provided or Executive’s employment is earlier terminated in accordance with the terms of this Agreement, the period of Executive’s employment shall, as of and following the expiration of the CIC Term, be automatically extended for additional 12 month periods (individually, and collectively, the “Post-CIC Renewal Term”).

  • The Company or the Executive may elect to terminate the automatic extension of the Term by giving written notice of such election not less than (i) one-year prior to the end of the Initial Term or any Renewal Term, as applicable or (ii) 90 days prior to the end of the CIC Term or any Post-CIC Renewal Term, as applicable (the “Final Non-Renewal Notice”).

  • Upon the occurrence of a Change in Control at any time during the course of the CIC Term, without further action, this Change in Control provision shall become immediately operative, including without limitation, the last sentence of clause 16.6 notwithstanding that the CIC Term may have theretofore terminated.

  • Unless a Non-Renewal Notice is given as herein provided or Executive’s employment is earlier terminated in accordance with the terms of this Agreement, the period of Executive’s employment shall, as of and following the expiration of the CIC Term, be automatically extended for additional twelve (12)-month periods (individually, and collectively, the “Post-CIC Renewal Term”).

  • Employee’s cessation as a participant in the Severance Plan is effective as of the date of this Agreement, regardless of whether Employee is currently in a General Term, CIC Term, or Protection Period as those terms are defined in the Severance Plan and regardless of any advanced notice or other termination requirements described in the Severance Plan.